Dubai is a bustling city in the heart of the United Arab Emirates and a hub of activity, innovation, and growth. With its shimmering skyscrapers, luxurious stores, and world-class attractions, Dubai has established itself as a premier destination for business and leisure travellers alike. But Dubai's ambitions go far beyond just being a popular tourist spot. The city has expanded its offerings and infrastructure to become a global centre for commerce, trade and investment. Recently, Dubai announced its latest expansion plan tilted the Dubai 2040 Urban Master Plan.
Dubai’s 2040 Urban Master Plan
The Dubai 2040 Urban Master Plan outlines a detailed strategy for the sustainable urban growth of Dubai. Over the next 20 years, it will aim to strengthen Dubai's position as a top travel destination for citizens, residents, and tourists by “improving people's enjoyment and quality of life”. The people-centric plan was launched on the 13th of March 2021 and inaugurated by the Vice President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum. The Dubai 2040 Urban Master Plan is now the sixth development plan for the emirate since 1960.
The expansion of Dubai will focus on key areas of the city such as Deira and Bur Dubai, Downtown and Business Bay, Dubai Marina and JBR. With a strong new approach to sustainable development, it will double the number of green spaces and recreational areas to help create a nature-centric environment for locals and guests. Dubai’s 2024 Urban Master Plan also strives to assist the development of the emirate's urban and cultural history and increase residents' attachment to older neighbourhoods by introducing more sustainable and adaptable transportation systems.
“The Master Plan aims to encourage mass transit use, walking, cycling and the use of flexible means of transportation, besides developing a comprehensive planning database to support decision-making and enhance transparency.”
- The United Arab Emirates' Government portal
Small Steps, Big Leaps: How Dubai's tech-savvy upgrades are making a difference
The growth of Dubai will focus on Smart City Initiatives. One of the key aspects of the plan is to transform Dubai into a smart city by leveraging cutting-edge technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT). This involves integrating these technologies into various aspects of the city's infrastructure, from transportation and energy to healthcare and education.
The plan aims to make Dubai a global leader in IoT by using sensors and other devices to gather data on various aspects of the city, such as traffic, energy consumption, and air quality. This data can be used to optimise city services and infrastructure, reduce waste, and improve quality of life for residents. The plan also aims to leverage blockchain technology to improve efficiency and transparency in various sectors, such as real estate, tourism and overall business in Dubai. For example, blockchain can be used to create secure, tamper-proof digital records of property transactions, or to create a decentralised platform for sharing data about tourist attractions and events.
The plan aims to make data about the city's operations and infrastructure available to the public through an open data platform. This will enable citizens and businesses to develop new applications and services that can improve city services and create new economic opportunities. As new business opportunities arise, we could see an increase in business travel towards Dubai.
Implications for business travel and demand for serviced apartments
The expansion of Dubai also places a strong emphasis on developing Dubai's knowledge-based economy, with a focus on innovation and technology. This will likely attract more business travellers to the city, particularly those involved in the tech and innovation sectors. As a result, the demand for high-quality, flexible, and spacious serviced apartments is likely to increase. This will be particularly relevant for long-stay business travellers who will need to work on projects or partnerships with local companies, attend conferences and events, or explore business opportunities in the region.
Laying Down the Law: A hint at what possible new legislations could look like
The plan includes a strong emphasis on environmental sustainability, with a target to reduce Dubai's carbon footprint by 16% by 2021. New legislation and policies may be introduced to support this goal, such as regulations mandating the use of renewable energy in new construction projects or incentives for companies and/or property owners to reduce waste and carbon emissions. As this project brings innovation, particularly in the tech sector, new data security legislations will also most likely be implemented.
As business in Dubai continues to thrive thanks to its continuous expansion, demand for serviced apartments will likely continue to increase. Take a look at SilverDoor’s portfolio of serviced apartments in Dubai and if you are planning to travel or relocated to Dubai, make sure you brush up on all you need to know about moving to the UAE.
