A detailed guide to the Business Bay area in Dubai
Business Bay is one of the key commercial and business centers of the Emirate. Construction of the neighborhood began in 2003, so it is called relatively young. Business Bay is designed on the principle of Manhattan in New York and combines both residential and commercial buildings. Five years ago, this neighborhood became the best investment area in Dubai.
The main advantages of the Business Bay neighborhood
– Located in the Freehold-zone, so a foreigner can buy a property here with the right of full private ownership.
– The yield is approximately up to 6% per annum.
– The area is ideal for business and investment.
– All major attractions are within walking distance or a short drive away.
Target Audience
Initially created as a major business hub, the district focused on the construction of large-scale office centers. However, after the economic crisis of 2008-2013, residential and commercial real estate became in demand. With a renowned cosmopolitan lifestyle, today Business Bay attracts a diverse audience including young couples, professionals, business people and families with children.
Transportation Accessibility
The neighborhood is connected to the main and longest street, Sheikh Zayed Road, which starts from the Abu Dhabi border and runs through the city. Today, the highway has been widened to 12 lanes, making it a key transportation artery for the entire emirate. The highway connects a large number of neighborhoods including DIFC, Downtown Dubai, Dubai Media City, Dubai Internet City, JLT and Jumeirah.
On the other side, Business Bay borders Al Khail Road, which plays a key role in the movement within Dubai. In recent years, new lanes have been added, interchanges have been widened and convenient exits have been created. Today, the street connects neighborhoods such as Dubai Hills Estate, JVC and Al Barsha.
The nearest metro station is the same name as Business Bay. A well-developed network of bus stops will allow you to get to the central points even those residents who do not yet have personal transportation. DC1 and DC2 ferries also have direct access. Important information for travelers: the road to Dubai International Airport takes about twenty minutes by car.
Developed infrastructure
Many customers who want to buy real estate in Dubai are interested in the infrastructure of the area. Business Bay is fully prepared for a comfortable life. There are large supermarkets (West Zone Fresh, Spinneys, Choithrams, Gala), top restaurants (The Kana, Baron Gourmet, Piccola Milano, Katsuya, Moon) and a large shopping center Bay Avenue Mall.
For those considering the Business Bay area for family living, there's good news too. Kindergartens (Hummingbird Nursery, Maple Bear Preschool), Express English Language Center, pharmacies, beautiful waterfront: all these are necessary for comfortable living.
Investment Attractiveness
Business Bay is the center of business activity in Dubai, which creates a constant demand for residential and commercial real estate. The interest is driven by the large number of expats among office workers and other organizations.
In 2020, Business Bay caught the eye of investors looking for affordable housing. The average return on investment in the neighborhood was 5.9%.
Top 5 neighborhood projects for investment
For sale studios, apartments with 1-4 bedrooms.
Planned completion: third quarter 2026.
Two high-rise towers with exclusive design by jewelry house De Grisogono. The apartments have views directly onto the Dubai Water Canal. Infrastructure of the complex: landscape pool, landscaped recreation area, gym, tennis court, playground for children.
Cost: from AED 3,518,000
For sale studios, apartments with 1-2 bedrooms.
Planned readiness: third quarter of 2024.
This is a modern residential complex created under the Binghatti brand. It is located on the first coastline, which is a big plus for investing in real estate. The interiors of the apartments are decorated using dark and pastel colors.
The infrastructure of the complex is famous for its entertainment: swimming pools for adults, sauna, Jacuzzi, spa-salon, etc. And after the working day you can always visit cafes and restaurants without leaving the complex.
Cost: 1,207,688 AED
For sale apartments with 1-2 bedrooms.
Planned completion: first quarter of 2026.
The Crestmark is a high-rise tower overlooking the Dubai Water Canal waterfront and marina.
Residents of this complex can enjoy first-class infrastructure. For example, for lovers of an active lifestyle, there is a gym, bowling alley and a luxurious swimming pool where you can relax after intensive training.
For those who prefer to work and spend time doing things, there is a co-working area.
But not only adults can enjoy a comfortable life in this complex. Special attention is paid to children - there is a spacious playroom and a cozy playground for them, where they can have fun and spend time safely.
Price: from 2,855,828 AED
Apartments with 1-2 bedrooms are on sale.
Planned completion: third quarter 2027.
A high-rise complex with interior spaces inspired by precious chrysolite stones. The apartments have views of Dubai Water Canal, Burj Khalifa. The infrastructure of Canal Crown is impressive: green recreation areas, SPA in space style, gym, swimming pool with virtual reality elements, observation deck on the roof, relaxation capsules.
Cost: from AED 2,045,000
For sale apartments with 1-2 bedrooms.
Planned completion: fourth quarter of 2023.
A new project under the brand of Italian design house Missoni on the coast of Dubai Canal - a real oasis in the business center of the city. The apartments overlook the canal embankment. A bonus of Urban Oasis is its location: the top attractions of Dubai, such as Burj Khalifa, Dubai Mall, singing fountains and Dubai Opera, are within a five-minute walk from the complex.
Cost: from AED 3,167,047
As you can see, the Business Bay area is one of the most ambitious and largest real estate and business development projects in the emirate. The area will continue to grow and develop in the coming years, attracting new investment and providing more opportunities for companies.