What is Dubai's Next Big Thing

What-is-Dubai's-Next-Big-Thing

Probably something out of this world - literally!

For all we know, Dubai has been on the forefront of developing magnificent and extraordinaryaaaaa infrastructures. But this time, they’re reaching for something grander, something that transcends beyond the imaginable – a project known as the MOON.
In fact, Dubai has continuously redefined the limits of possibility. For instance, from the iconic Burj Khalifa piercing the skyline to the bustling Downtown Dubai adorned with the world’s longest water fountains. This city never fails to amaze people from around the world with their futuristic endeavours.

In the heart of this metropolis, where each building competes with the sky for grandeur, the question arises: What’s the next chapter in Dubai’s story of continuous growth and development? Will the Dubai artificial moon be the most remarkable yet?

 When we thought we had seen enough, Dubai was just getting started.
Join us in unraveling the possibilities of Dubai’s future, where each venture is not just an addition to the skyscraper city but a leap into the unimaginable.

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Dubai's-Next Big-Thing
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Dubai is Building a $5 Billion Moon-Shaped Resort

Dubai-is-Building-a-$5-Billion-Moon-Shaped-Resort

The MOON

$ 5 Billion project
900 foot moon replica
4.000 room hotel
10,000 seat arena
Dubai-is-Building-a-$5-Billion-Moon-Shaped-Resort

This staggering $5 billion project aims to craft a moon-shaped resort atop a 30-meter (100-foot) structure that might be the one. Moreover, Canadian entrepreneur Michael Henderson envisions a 274-meter (900-foot) replica of the moon, gracing the coveted plot at the base of  The Palm Jumeirah. Beyond its celestial grandeur, the Moon Project integrates with Dubai’s futuristic landscape. Additionally, this project, propelled by Moon World Resorts Inc., a venture co-founded by Henderson, promises a synthesis of celestial aesthetics and earthly opulence. Literally bringing the Moon to the Earth. Furthermore, the proposed Dubai artificial Moon structure embodies a destination resort featuring a 4,000-room hotel, a 10,000-seat arena, and a “lunar colony,” inviting guests to experience the surreal sensation as if strolling on the moon. To add, as it is perched on a pedestal-like circular building, the MOON will cast a mesmerizing glow at night, adding a celestial ambiance to Dubai’s night skyline.

Accordingly, Henderson, during discussions at the Arabian Travel Market in May 2023, shared his ambitious vision, presenting artist renderings that playfully explore potential locations for the MOON. Also, these include iconic landmarks such as the Burj Khalifa and the Dubai Pearl.

As Dubai continues its remarkable resurgence from the 2009 financial crisis, the Moon Project stands as different project in dubai. 

Dubai’s Unparalleled Achievements

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Amongst the many new attractions in Dubai, two remarkable landmarks stood out embodying the city’s spirit and vision; the Burj Khalifa and Downtown Dubai.

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The Burj Khalifa

Dubai’s Burj Khalifa, a tribute to Sheikh Khalifa ibn Zayed Al Nahyan, is an engineering marvel unveiled on January 4, 2010. Accordingly, it was developed by Skidmore, Owings & Merrill, with Adrian Smith as the architect and William F. Baker as the structural engineer. Consequently, the Burj Khalifa reaches a breathtaking height of 2,717 feet (828 meters) across 163 floors. 

Moreover, it boasts records such as the world’s tallest freestanding structure, highest occupied floor, and highest outdoor observation deck. Hence, it symbolizes Dubai’s splendor and human innovation, ascending unparalleled heights both literally and figuratively.

Additionally, inspired by the local Hymenocallis flower, the tower’s three-lobed footprint blends elegance with modernity. Designed for commercial, residential, and hospitality ventures, the Burj Khalifa’s exterior captivates with aluminum and stainless-steel panels, vertical tubular fins, and over 28,000 hand-cut glass panels.

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Downtown Dubai

Nestled at the Burj Khalifa’s base, Downtown Dubai transcends being a neighborhood; it pulsates as a global nexus. Amidst skyscrapers and boulevards, it thrives as a dynamic center of commerce, culture, and entertainment. Also, its cosmopolitan allure makes it a microcosm where diversity, innovation, and tradition seamlessly converge.

Moreover, Downtown Dubai extends beyond skyscrapers to horizontal wonders. For instance, it features the world’s longest choreographed water fountains at the Burj Khalifa’s feet – a symphony of water and light enchanting spectators. What’s more, the 2000 seats grand opera auditorium serves as a cultural oasis, hosting beautiful performances.

Dubai’s-Unparalleled-Achievements

Dubai’s Resilient Real Estate Market

Dubais-Resilient-Real-Estate-Market
Dubais-Resilient-Real-Estate-Market

Dubai’s journey in real estate was like a boat close to sinking but never sank; rather, it navigated through the turbulent waves and stood resilient, notably from the 2009 economic downturn. Further, this era was marked by projects like The Pearl and the Palm Jebel Ali, remnants of the financial crisis, that required a substantial $20 billion bailout from Abu Dhabi.

Moreover, looking back almost 15 years, Dubai stands as a transformed landscape. Rents surge impressively at 26.9% year-on-year, defying prevailing economic uncertainties. The record-breaking 86,849 residential sales in the past year surpassed the previous high of 80,831 in 2009.

Hence, in the global dance of rising inflation and interest rates, Dubai stands firm. Tied to the dollar, the dirham keeps Dubai sheltered,

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Emerging Trends in Dubai’s Real Estate Market

According to CBRE’s UAE Market Review in Q3 2023, Dubai’s residential real estate market in the year 2023 leading up to September 2023 has witnessed remarkable shifts, reflecting a dynamic and evolving landscape.

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Emerging-Trends-in-Dubais-Real-Estate-Market

Dubai Real Estate
Market Trends

Pricing Dynamic

19.6% increase in average residential prices

19.7% increase in average apartment prices

18.9% increase in average villa prices

Rental Market Trends

20.6% increase in average rent

20.7% increase in average apartment rent

20.1% increase in average villa rent Transactions

87,163 Transactions

Pricing Dynamics

  • The market witnessed a surge of 19.6% in average residential prices, indicating a resilient demand.
  • Apartment and villa prices embraced a growth of 19.7% and 18.9%, respectively. Additionally, average apartment prices soared to AED 1,357 per square foot, while average villa prices reached AED 1,605 per square foot.
  • Despite this surge, apartment sales rates per square foot remain 8.8% below their 2014 baseline. In contrast, villa sales rates have outshone their 2014 levels by 11.1%.
Pricing-Dynamics

Rental Market Trends

  • Rental growth has softened, with average residential rents increasing by 20.6% in the year to September 2023.
  • Apartment and villa rents rose by 20.7% and 20.1%, respectively.



Accordingly, the total number of tenancy contracts registered surged to 425,285, a 47.9% increase from the 2019 period, propelled by a significant rise in renewed rental registrations.

Rental-Market-Trends

Supply and Transactions

  • Approximately 27,095 residential units were estimated to be delivered in the year 2023 to Q3 2023, with 46.4% located in Meydan One, Downtown Dubai, and Business Bay.
  • September 2023 witnessed a contracting off-plan market, with a 41.5% decrease in off-plan sales. In contrast, secondary market sales pirouetted with a 30.5% increase. Nevertheless, the grand finale for the year to date reached a record-breaking 87,163 transactions.
  • Within the prime and super-prime segments, transactions above AED 5 million and AED 10 million and above experienced moderate declines.
Supply-and-Transactions

Future Outlook

  • The moderation in the rental market is expected to persist, driven by a waning growth in key residential communities.
  • Prices in the apartment and villa market segments are anticipated to continue to rise, albeit, at a more measured pace compared to earlier in 2023.
  • In essence, Dubai’s real estate market tells a narrative of adaptability and resilience with intricate pricing dynamics, emerging trends in Dubai, and supply landscape.
Future-Outlook

Dubai Upcoming Developments

Besides the majestic Dubai artificial moon, there are also future projects in Dubai that may redefine the real estate landscape of the city and break new records.

The-Dubai-Creek-Tower

The Dubai Creek Tower

The Dubai Creek Tower, Emaar Properties’ monumental creation is located in the heart of Dubai Creek Harbour and this development is envisaged to surpass the Burj Khalifa. Accordingly, the Dubai Creek Tower underwent a visionary redesign, another testament of Emaar Properties prowess for sure. Moreover, its completion date is already set for 2025.

Marsa-Al-Arab

Marsa Al Arab

Marsa Al Arab is unfolding on the landscape of Dubai South. Additionally, carving two islands on either side of the iconic Burj Al Arab, this development promises a spectacle that transcends the ordinary. Interestingly, Marsa Al Arab is a superyacht-inspired haven with its design seemingly resembling one. Accordingly, this project 

Burj-Binghatti

Burj Binghatti

Burj Binghatti crafted by Jacob Arabo, its honeycomb design stands out as a unique and distinguishing feature. Additionally, it stretches to 200 meters with more than 112 storeys, and it aspires to become the tallest residential tower globally by 2026.

Ciel-Dubai

Ciel Dubai

This year, Ciel Dubai, the world’s tallest stand-alone hotel at 365 meters, is expected to paint the Dubai Marina with its ethereal charm. To add, this project encompasses over 1,000 guest rooms, a rooftop Sky Terrace, and the enchanting Ciel Observatory

Dubai-Wasl-Tower

Dubai Wasl Tower

By Q2 of 2024 Dubai will welcome the arrival of Dubai Wasl Tower, a spectacle on Sheikh Zayed Road. Furthermore, beyond its 300 meters, this tower is a dance of architecture, designed to create the illusion of dynamic motion.

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Dubai’s 3D Printing Strategy 2030

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3D Printing Strategy

Could 3D Printing Construction ?

Dubai’s foray into the realm of 3D printing construction marks a significant milestone in the city’s building sector. Moreover, this is driven by the ambitious 3D Printing Strategy 2030 and championed by AC3D. Additionally, as the market anticipates substantial growth from $500 million to $2.5 billion by 2025, Boris Kozlov, Founder and CEO of AC3D, underscores the commitment to fostering a more sustainable future for the construction sector, with Dubai serving as the starting point.

E-foil Boarding : Water Sports

Besides the anticipated Moon Project and 3D construction strategy, there’s another water sports scene.

In recent years, Dubai’s water sports scene has witnessed the surge of electric hydrofoil boarding, or E-Foil boarding, marking a transformative evolution in water sports. Evidently, this cutting-edge activity seamlessly blends the thrill of traditional water sports like surfing and wakeboarding with state-of-the-art electric propulsion technology, delivering an unparalleled experience for enthusiasts.

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E-foil-Boarding-Water-Sports

FAQs

The next big thing in Dubai encompasses the visionary $5 billion Moon-Shaped Resort project. This extraordinary venture integrates the characteristics of the moon and gracing it to the Earth, promising an extraordinary and unparalleled experience.

The emerging trends in Dubai's real estate market reflects a surge in average residential prices by 19.6%, unveiling a robust demand. Both apartment and villa prices have surged significantly, and despite a softened rental growth of 20.6%, over 87,000 transactions were recorded, showcasing the market's resilience and adaptability.

Among the Dubai upcoming developments are Dubai Creek Tower, Marsa Al Arab, Burj Binghatti, Ciel Dubai, and Dubai Wasl Tower. These projects embody architectural marvels, luxury living, and unique lifestyle experiences, contributing to the city's continuous evolution.

The Dubai artificial Moon project is a $5 billion endeavor conceptualized by Michael Henderson and Moon World Resorts Inc. Envisaging a 900-foot replica of the moon, this project introduces a 4,000-room hotel, a 10,000-seat arena, and a lunar colony, making it a focal point in Dubai's futuristic landscape.

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