Dubai Ruler approves second phase of Dubai 2040 Urban Master Plan

The Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, has approved the second phase of the Dubai 2040 Urban Master Plan. The ten critical initiatives in this phase are Enhancing Urban Centers, Dubai's Real Estate Strategy, Urban Farming Plan, Preserving Urban Heritage Plan, Developing the 20-Minute City Policy, and creating the Pedestrian Network Master Plan, among others. This phase is made up of several projects under these initiatives. As part of the initial phase of the Dubai 2040 Urban Master Plan, His Highness also examined the status of 17 projects and initiatives. Sheikh Mohammed bin Rashid stated, "As of today, we have a clear vision for the growth of Dubai's housing market and urban infrastructure through the year 2040. Our objective is for Dubai to have a high yield from urban agriculture, be pedestrian- and eco-friendly, and be a city. " Mattar Al Tayer, Commissioner General for Infrastructure, Urban Planning and Well-Being Pillar and Chair of the Supreme Committee of Urban Planning in Dubai, gave Sheikh Mohammed bin Rashid Al Maktoum an overview of the significant initiatives of Phase II of the Dubai 2040 Urban Master Plan. Three already-existing and two new urban centers totaling five will be developed as part of the latest phase in Dubai. The plan also specifies a thorough strategy for Dubai's real estate market up until 2040 to bring it into compliance with the Master Plan's requirements and achieve a balance between supply and demand. It calls for proactive measures to manage real estate market opportunities and changes, achieve sustainable urban development, and increase investor confidence. BKM/ Expat Media
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