Property for sale in Business Bay, UAE
There are over 60 free zones in Dubai where real estate is available for foreigners. Business Bay is one of such communities. This is a popular Dubai district that provides comfortable conditions for doing business and living. Apartments in Business Bay, Dubai are often purchased not only as vacation homes or permanent residences for relocation, but also as an investment.
This upscale community in the heart of the megalopolis is often compared to Manhattan, the US business hub. Business Bay residents have access to all of the emirate’s major landmarks. The community features top-notch amenities facilitating a dynamic lifestyle. For expats, there is an opportunity to buy property in Business Bay and have full ownership of it with the right to resell, gift, bequeath, or lease. Business Bay property prices vary, making it possible to select a home to suit any budget.
The emirate’s residential and commercial property stock is rapidly developing. Starting from 2021, house prices and the demand have been growing consistently. Highly liquid and high-yield housing in the UAE can also generate profits through value capitalization. Investing in real estate in Business Bay is particularly lucrative at the development stage. You can find bargain properties for sale in Business Bay at the start of construction, while completed residential projects are far more expensive. By the time a property is commissioned, its price usually increases by double digits. You can make a profit by reselling your apartment or villa, which makes for a lucrative investment.
Business Bay
Lifestyle and features
The key feature of this community is great transport accessibility. It is located in the heart of the emirate, close to all of the city’s iconic landmarks. The international airport is 15 minutes away and it takes the same time to reach the megalopolis’ major motorway, Sheikh Zayed Road that connects all of ita parts, making it possible to drive to any district. The luxurious beaches of Palm Jumeirah and Dubai Marina are a 20-minute drive away. It takes 10 minutes to get to the downtown with all the major landmarks, such as the Burj Khalifa skyscraper and the dancing fountains.
If you prefer not to drive, you can take the underground, taxis, or buses. The community lifestyle suits diverse groups of population. Young professionals, retired people, and families with children are equally likely to find something to admire in this district with great infrastructure.
The community development plan includes building new, no less interesting places, specifically five harbors that will accommodate not only berths but also floating houses and a waterfront with amenities. New restaurants, cafés, and shops will emerge. Real estate in Business Bay will grow increasingly more expensive as it happens.
Property types in Business Bay
This community was initially designed as a business hub, but the rapidly surging demand for real estate for sale in Business Bay made it necessary to expand the original plan. It now features commercial and residential buildings side by side. Most properties are mixed-use. Their lower floors are reserved for office or commercial spaces, and the upper floors, for homes. There are all in-demand property types in this district, such as apartments, penthouses, and villas. The latter are usually located in the podium parts of skyscrapers. Some projects feature floating villas in Business Bay, Dubai. These are found along the Dubai Canal.
The community is developed by several companies, including major ones, such as Omniyat, Binghatti Developers, and DAMAC Properties. They offer completed properties for sale in Business Bay and units in off-plan projects.
Property investment in Business Bay
Commercial potential of Business Bay
You can invest in the UAE residential real estate to protect money from inflation. Properties in Business Bay, Dubai generate an average rental yield of 3.9% per annum. Studios can yield up to 6%. The average rent on such homes is $30,000 per year. The rates start at $12,000 per year.
Two-bedroom apartments can be leased for an average of $135,000. Please note that prices depend on the residential project’s level of comfort: the better the facilities, the higher the rents. Penthouses are the most expensive. These properties can be leased for $408,000 per year. The annual rent on a villa starts at $68,000.
Advantages of Business Bay
Landmarks
This community was initially created as the city’s business hub, so its cultural institutions and leisure offerings are still under development. The district’s landmarks include:
- Al Habtoor City, a complex with the world’s largest water theater, La Perle
- Dubai Canal with a waterfront promenade
The 3-kilometer-long man-made canal connects different communities by water transport routes
- Mountain Extreme, a large sports park
- Bay Avenue, a shopping and entertainment mall
If you buy real estate in Business Bay, Dubai you will live near UAE’s major landmarks.
Restaurants and shopping
Living in this community is a great opportunity to try cuisines of the world. Here are some of the high-rating restaurants:
- Tong Thai, an authentic Thai restaurant with Bangkok cuisine
- Izakaya, a Japanese bar famous for sushi, sashimi, and rolls
- Kitchen 6, a restaurant that combines menus from six countries
There is a shopping mall in the community just as large as the Dubai Mall, which is less than 2 km away. The mall in Business Bay accommodates not only numerous boutiques by global brands, but also restaurants, bars, and entertainment venues.
Spa, sports, and leisure
The nearest beach is the Jumeirah waterfront that boasts grounds with all the necessary amenities. Promenade areas are under active development. They usually combine not only landscaped grounds but also outdoor sports courts and children’s playgrounds. Presently, Avenue Park is the most prominent park in this community but the number of spacious green areas will increase in the future. Gyms are found in almost every residential project within the district. There are also gyms with cutting-edge exercise equipment in different parts of Business Bay. The best spa salons are JW Marriott, Oberoi, and Taj.
Buying a property in Business Bay
Not everyone wants a property on an island. Business Bay is a great alternative. Whether you are looking for property in Dubai with a sea view or just wish to buy property in Business Bay for investments and living, you can find many options in our catalog. With our convenient filters, you can customize your search by property type, floor area, and value. We list prices in euros and dollars for ease of calculation. Our English-speaking real estate experts will be happy to consult you in real time, assist with the selection, and walk you through all the legal details of closing the deal.
