Dubai’s preparations for World Expo 2020 are heating up. One of the latest Expo 2020-focused projects in the emirate is called Route 2020 and it will extend Red Line of the Dubai Metro by 15 km.
Route 2020 project was officially given a green light by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The project will increase the length of the Dubai Metro to a total of 90 km by adding seven new stations to the Red Line. They will span from Nakheel Harbour to the site of Expo 2020, located in close proximity to Al Maktoum International Airport.
The new 15 km-long route will operate through Jumeirah Golf Estates, Furjan, Dubai Investment Park and Discovery Gardens. Two of the new stations will be set underground and 4 km from the route will also be pass under the ground.
Tendering for the project is expected to begin in July 2015. The project will be completed in 2018.
Route 2020 is also part of a bigger plan that aims to improve public transport in Dubai. Along with the Dubai Metro, this master plan also features bus, tram and water transport services.
Residents living in the densely populated areas to which the metro’s Red Line will be extended are reported to have welcomed the news for Route 2020 project. It is estimated that about 240,000 people live on the 15 km extension of the Dubai Metro.
Many of them are still experiencing difficulties when it comes to commuting to their work. In addition, traffic jams are something common in these areas. However, once Route 2020 is completed, it is expected to encourage more people to use the metro and improve the traffic in these parts of the emirate.
Rental Prices Increase
Back in 2012, RTA (the Roads and Transport Authority) released a research showing that the value of residential property situated new the Dubai Metro tracks and stations tends to increase by up to 34%. As a result, rental prices also increased by up to 50%.
A similar increase in property value and rental prices will probably be observed in the new Route 2020 areas. However, given prognosis for declining real estate prices in Dubai throughout 2015, the increases will not be so shockingly dramatic. What is more, prices are predicted to rise only after the Route 2020 project is completed, which will be in about two years time.