Popularly regarded as a new emerging city within the Dubai city, Business Bay is one of the most favourable real estate destinations in current time. With a plethora of residential and commercial options available and new projects developing at a faster node, Business Bay will be regarded as a business capital of Dubai in future.
So what makes Business Bay a popular investment destination in Dubai? Let’s have a look:
Location and Connectivity
The area enjoys smooth connectivity with other areas via Red Line of Dubai Metro. Business Bay is also strategically located nearer to Burj Khalifa and other centres of attractions like freehold zones and DIFC. Downtown Dubai and Dubai Mall are in close proximity to the area.
The entire Business Bay is being developed on the lines of Canary Wharf business hub situated in London. It features several skyscrapers comprising of both commercial and residential units. Spread over an area of 46,900,000 sq ft, the locality will be home to a population of 300,000 people in future. Various commercial, residential and mixed-land developments are developing here with some in various stages of construction. Due to the presence of other sound infrastructure, home buyers and other property investor’s finds this region best in terms of realty investment.
Several premium developments in Business Bay include:
A mixed-use project that includes pedestrian-only zone, beautiful walkways over canals, restaurants, cafes, retail stores etc.
It comprises of 12 towers that include residential, commercial and office spaces.
A retail development, it comprises Boutiques, showrooms, plaza, sporting facilities, and kids play area.
Some of the famous projects in the Business Bay include JW Marriott Marquis (Tallest hotel in the world), the Swiss Cheese Tower, the Bay tower, waterway, Damac Bay Edge, Damac Vera Residences etc.
Price and Trend
Due to the presence of sound infrastructure, well-developed connectivity and commercial, residential and retail spaces, end users are keen on investing here. This has led to the steady gain in the property prices in Business Bay. Experts suggest that in future the rates will increase more when it will become fully functional. The current price of the property starts from AED 550,000 and goes to a maximum of AED 9,400,000.