Business Bay is one of the most cosmopolitan areas in Dubai, as well as the business and shopping center of the capital of the Emirate. It is just minutes away from the city center, Downtown Dubai. Downtown Dubai has huge potential. It is still gradually expanding and is being built up by new complexes. This provides the choice for people willing to buy property in an iconic location with access to key facilities and attractions of the city.
Real estate in Business Bay is mostly represented by housing estates and towers of business centers. There is a park, plenty of supermarkets, restaurants, and entertainment venues. This helps find an optimal balance between work and personal life. There are also a lot of world-famous hotels in the area, like Paramount Hotel Midtown and Radisson Blu Hotel.
Content:
Advantages of Business Bay
Business Bay is highly sought-after by young expat professionals who have an individualistic outlook on the world. The local multi-national residents live a truly dynamic and cosmopolitan lifestyle.
The district is developing according to the government's precise vision. It has enough amenities to ensure leisure and recreation. But there is no access to the sea. For a beach holiday and seclusion, you can go, for example, to the neighbouring Dubai Marina area.
Business Bay has established itself as one of the city's most prestigious addresses thanks to its large variety of premium apartments, hotel rooms, and hotels. Tenants, homebuyers, and tourists have an equal interest in the real estate market here. Additionally, Jumeirah, one of Dubai's oldest neighbourhoods, and Dubai Design District are both nearby.
Hotels
Hotels in Business Bay are luxurious resorts with close proximity to many of the tourist attractions in Downtown Dubai. The best hotels are the following:
- Steigenberger Hotel is one of the most popular hotels in the area. The 5-star hotel is situated in Al Abraj Road. This is a 19-storey building with serviced rooms and numerous restaurants. Here is The Backyard, one of the best bars in the territory.
- Radisson Blu Waterfront is right to the Dubai Water Canal. The hotel has 432 rooms, 11 conference rooms, and 8 gourmet restaurants and bars.
- JW Marriott Marquis Hotel is the second-highest hotel in the world and one of the best 5-star hotels in the city. The twin tower project is visible from anywhere in Business Bay.
- Taj Dubai offers deluxe rooms, a spa, outdoor pools, and other amenities.
- The Oberoi hotel overlooks the Burj Khalifa. The hotel has Ananta, one of the finest Indian gourmet restaurants.
Public transport
For those depending on public transport, Business Bay metro station is accessible, as well as taxis and buses running up and down the area.
Other metro stations close to the area are Burj Khalifa/Dubai Mall metro station, Financial Center station, and Emirates Towers.
Al Khail Road and Sheikh Mohammad Bin Zayed Road are two primary transport routes that serve as a means of connecting to the outside city.
Supermarkets
There are huge supermarket chains called Spinneys and Choithrams. Near Mayfair Towers, there is a West Zone supermarket. Al Maya supermarket several Zoom convenience stores are in Clover Bay Tower.
Shopping malls
Shopping is one of the key building blocks of life in Dubai. The Dubai Mall remains a popular option for residents of Downtown Dubai and Business Bay. Another mall is the Bay Avenue Shopping Mall in Business Bay, where you'll find various boutiques, diners, and leisure and entertainment facilities.
Everything about real estate in Business Bay, UAE
Business Bay is a densely built-up territory. The majority of the properties are situated in the towers of residential complexes here. The variety of impressive structures and buildings includes new skyscrapers with high-quality furniture and amenities.
Residential apartments in Business Bay are spacious and bright. You can purchase or rent premises of various configurations, starting from studios to four-bedroom options, penthouses, lofts, and duplexes. Each apartment meets international quality standards. The majority of the apartments are offered for sale furnished, fully equipped, and with first-class finishes.
The area can boast some of the ultra-modern apartments in the city. Most of them are in a freehold zone, so they are available for purchase by foreigners.
New buildings and communities in Business Bay
Popular investment communities in the heart of the city are DAMAC Paramount Towers, the premium Omniyat project, and the exclusive Millennium Binghatti Residences by Binghatti Developers.
Villas in Business Bay are presented in the following projects: Marasi Floating Villas, Sky Villas, and Executive Towers. These units are available for purchase or rent.
The lifestyle in the area is predominantly for the young. Single experts and professionals of different fields live here, as well as young couples. But recently, the trend has been turning around. Families with children have started to show interest in this community, especially in terms of investing in apartments.
Rental prices
Residential complexes in Business Bay offer plenty of housing options for rent. You will find apartments with various amenities, including swimming pools, spa areas, playgrounds, barbecue zones, and other useful options.
The prices are below for rental housing. They also depend on the property type:
- Studios start from 28,000 AED ($7,623, ¥53,514) to 200,000 AED ($54,451, ¥382,248) per year;
- One-bedroom options vary between 35,000 AED ($9,528, ¥66,893) and AED 200,000 ($54,451, ¥382,248) per year;
- Two-bedroom apartments range from 53,000 AED ($14,429, ¥101,295) to 950,000 AED ($258,643, ¥1,815,679) per year;
- Three- and four-bedroom apartments start at 89,000 AED ($24,230, ¥170,100) and go to 290,000 AED ($78,950, ¥554,260) per year;
- Penthouses vary between 199,000 AED ($54,179, ¥380,337) and 1,300,000 AED ($353,933, ¥2,484,614) per year;
- Villas start at 247,000 AED ($67,247, ¥472,076) per year.
Sale prices
Below is the cost of housing options in Business Bay, depending on the unit’s type:
- Studios, 418,003 AED ($113,803, ¥798,899) to 1,480,000 AED ($402,939, ¥2,828,637);
- One-bedroom apartments, 550,000 AED ($149,741, ¥1,051,182) to 2,800,000 AED ($762,318, ¥5,351,476);
- Two-bedroom apartments, 850,000 AED ($231,418, ¥1,624,555);
- Three-bedroom apartments, 1,300,000 AED ($353,933, ¥2,484,614) to 19,800,000 AED ($5,390,681, ¥37,842,583);
- Four-bedroom apartments, 2,400,000 AED ($653,415, ¥4,586,979) to 32,400,000 AED ($8,821,115, ¥61,924,228);
- Penthouses, 4,400,000 AED ($1,197,929, ¥8,409,463) to AED 40,000,000 ($10,890,265, ¥76,449,664);
- Villas , 2,000,000 AED ($544,513, ¥3,822,483) to 7,000,000 AED ($1,905,796, ¥13,378,691).
Buy-to-invest options
Business Bay is one of Dubai's most sought-after neighbourhoods for tourists and long-term renters, so investing in real estate here can provide returns quickly. The average annual return on investment for renting out the unit is 6%. The indicator may change depending on the property type. Studios are the most profitable with the annual yield of 6% . One- to three-bedroom apartments bring in 5.1% to 5.6% of the total.
Please get in contact with our experts if you need help choosing a liquid asset for investment in Business Bay!
