Learn more about the Business Bay apartment market through trends and average prices.
How affordable are apartments in Business Bay?
The median sales price for a apartment in Business Bay is approximately AED1,710,000
The median price per square feet in Business Bay is AED2,030
The Business Bay area currently has 3,355 apartments for sale
Explore Apartments in the Neighborhoods of Business Bay
Business Bay was developed in 2005 as a modern commercial area. The total building area is 46,900,000 square feet (4,360,000 m2), with a maximum leasable area of 78,500,000 square feet (7,290,000 m2). The total population is expected to exceed 300,000, with a projected population of more than 191,000 for the overall growth and 110,000 for employers and others. Business development will occupy 2,653,244 square feet (246,494.4 m2), accounting for 18.5 percent of overall growth; mixed-use development will occupy 8,520,368 square feet (59.4 percent); and residential development will occupy 3,163,628 square feet (293,910.7 m2) (22.1 percent). On Business Bay, AED 110 billion (US$30 billion) will be spent.
It was intended to be Dubai's main industrial area at first, but it has gradually expanded as a business-bay. Business Bay real estate includes opulent residences, resorts, and opulent villas and Apartments. One of the benefits is that it is connected to the Dubai water canal; it has an admirable colorful mechanical waterfall sight and cycling tracks. It has a cosmopolitan, fast-paced vibe that draws young and professional people. Though young couples and singles will enjoy the area's convenient location and high-rise buildings, families with children should keep playgrounds, parks, jogging and biking trails, and rush-hour traffic in mind. Business Bay Apartments are spacious and well-lit, with sizes ranging from studios to one-, two-, and three-bedroom apartments. The most prominent apartment communities in Business Bay are Executive Tower J, DAMAC Towers, Capital Bay Towers, Merano Tower, Ontario Tower and 8 Boulevard Walk. A Business Bay apartment can be purchased for as little as AED 9,000,000. There are Apartments for sale in the surrounding area as well.
Business Bay is located south of downtown Dubai, near the Dubai Mall, the Burj Khalifa, and the Old Town neighborhoods, with Al Wasl to the west. And Dubai Marina is just a 20-minute drive away. Business Bay is part of His Highness Sheikh Mohammed Bin Rashed Al Maktoum's vision as Vice President of the UAE, Prime Minister, Minister of Defense, and Ruler of Dubai. According to Dubai Land Department statistics, Business Bay is the second most popular investment destination, trailing only Dubai Marina. There are convenient connections to major roads or to major locations such as Jumeirah or Umm Suqeim, which provide a wide range of facilities such as hospitals, malls, beaches, restaurants, hotels, running routes, and parks.Business Bay has excellent transportation connections; it is connected to the Red Line of the Dubai Metro via the Burj Khalifa, Dubai Mall Station, and Business Bay Station, as well as providing 24-hour Cab services.
Popular Parts of Business Bay
Business Bay is a vibrant residential and commercial neighborhood in Dubai. It shares a frontier with Dubai's landmark district, Downtown Dubai, and is set amidst the gleaming waters of the Dubai Canal. Business Bay not only has a lively nightclub, but also several 5 Star Luxurious hotels. JW Marriott Marquis Hotel Dubai is the second biggest hotel in the country, with 1,608 rooms. JW Marriott Marquis Hotel Dubai's market value is AED 1.8 billion.
The view of the Burj Khalifa makes it a very appealing location for a property in Business Bay; it is located at the summit of the new creek expansion, which has about 12 kilometers of waterfront walkways. The Bay Avenue is located near the executive towers in Business Bay and provides residents retail stores as well as over 90 dining choices.
The Dubai Creek Canal splits the city into two charming cities of lights: Deira and Bur Dubai Island, both of which provide spectacular views of Festival City Mall, Ras Al Khor Sanctuary, and the Burj Khalifa. Business Bay has easy access to Downtown Dubai. It is just 5 minutes away from Dubai Mall and has convenient access to all of Downtown Dubai's amenities.
Types of Apartment in Business Bay
A variety of mixed-use properties located in historic buildings can be found in Business Bay. There are condos, one-bedroom flat, and penthouses to choose from, all with stunning views of the city or the Dubai Canal. The Apartments in this neighborhood exude luxury and exclusivity.
Looking for an apartment for Sale in Business Bay
It actually offers People with high quality, ideal venue, and comfortable areas at fair prices. The below are the typical sales rates in Business Bay:
Condos: Beginning at 600,000 AED
Apartments with one bedroom start at 1,300,000 AED.
Apartments with two bedrooms launch at 1,700,000 AED.
Apartments with three bedrooms launch at 2,500,000 AED.
Starting price for a three-bedroom duplex is 4,400,000 AED.
Despite the fact that apartments make up the majority of residential properties in the district, there are Apartment for sale at Jumeirah,8 Boulevard Walk and Riverside Apartment floating villas along Dubai Canal.
Lifestyle factors in Business Bay
Business Bay, Dubai's skyscraper district, has far more to do than concrete buildings and bustling city life. Living in Business Bay brings you right next to Downtown Dubai, one of the emirate's most active and lively neighborhoods. This neighborhood has everything a modern suburban community can have a plethora of entertainment venues, high-quality homes, condos, restaurants, and shopping establishments. In addition to the Bay Avenue Park, developments such as the Executive Towers include small green strips with children's play areas and other recreational amenities. With its quirky graffiti-style architecture and skate park, Bay Avenue is likely to appeal to teens. It's an excellent venue for them to socialize with the families of their neighbors.
Top 3 Reasons to Invest in Business Bay
If you want to buy or live in Business Bay, you don't have to look far because the area is right in the heart of Dubai, next to Downtown Dubai and Al Quoz. The area, which consists of numerous commercial and residential structures, is home to a multi-ethnic social sphere of inhabitants, resulting in a diverse and lively community. One of the most significant advantages of residing in Business Bay is that it is not characterized by a single race, so you will find people from virtually every continent coexisting with competitive costs. It is a Dubai community with a steady increase in ROIs over the years, rendering it a lucrative nest egg or source of supplemental profits. Business Bay is a diverse and active community.