Properties for Sale in Business Bay

The area with the self-explanatory name, Business Bay is the business and commercial center of Dubai. Its concept was created as an equivalent of Manhattan in New York and Ginza in Tokyo. Development of the area began in 2003 and by 2017, the world-famous publishing house; Lonely Planet, who  publishes global travel guides, included Business Bay in the top-five most interesting places to visit.

Business Bay hosts ​​a number of mixed-use, high-rise developments from office buildings, banks and retail areas, residential real estate, luxury hotels, restaurants and entertainment venues. The total area of ​​Business Bay is 79,975,854 sq. ft. After the full completion of construction works, there will be 240 skyscrapers that will house residential and commercial units. The main waterway of the Emirate, the artificial Dubai Water Canal, runs along the central part of the entire area. There are dozens of restaurants, as well as cultural and entertainment facilities along the waterfront, including the famous aqua theatre, La Perle.

This is a multicultural area with a vibrant cosmopolitan atmosphere that attracts young professionals from all over Dubai. Residences are often bought and rented by foreigners who work in the Business Bay area itself or in the nearby areas of Downtown Dubai and Dubai International Financial Center (DIFC).

Business Bay is located to the south of the cultural and tourist center of Downtown Dubai, which is home to the majority of the main attractions in the emirate. The area is also bordered by Al Quoz and Dubai Design District and is a short drive from DIFC and Jumeirah Beach. On the northern border of Business Bay there is Dubai’s main highway, Sheikh Zayed Road/ E11, which provides access to all parts of the Emirate as well as the main artery between Dubai and Abu Dhabi. In the south of the district, there is another major highway – Al Khail Road/E 44 which runs parallel to Sheikh Zayed Road. Dubai International Airport is only 15 minutes away using the E11 route.

The main attraction in the area is the 10,498-feet-long Dubai Canal which opened in 2017 and became an extension of the natural offshore branch of Dubai Creek. The 19,685-feet promenade has a running and cycling track. On the border of Business Bay, where the canal runs under the bridge of Sheikh Zayed Road, is a small waterfall, which is fantastically illuminated at night. The canal can be crossed on foot via special pedestrian bridges. The Dubai Canal is not only beautifully designed, but is also practical – it connects Business Bay with the old part of Dubai by a water transport system.

Another attraction in the district is JW Marriott Marquis Hotel – the second highest hotel  in the world (1164 ft) and also one of the busiest hotels in Dubai. It used to rank 1st amongst the tallest hotels, however until February 2018, when the Gevora Hotel was built on Sheikh Zayed Road,it overtook it by three feet.

As for entertainment venues, La Perle by Dragone Theatre, which hosts incredible acrobatic water shows, operates in Al Habtoor City. The concept of the performance was developed by Franco Dragone, the world-renowned Italian theater director.

Another significant landmark in the district is the unique The Opus skyscraper by Omniyat, which was completed in 2020. Its peculiarity lies in its surreal design: it is a building with mirrored facades, in the center of which there is a large opening of a bizarre shape. In the dark, the futuristic look of The Opus is complemented by illumination. The architect  of the project was the legendary Zaha Hadid, the first female architect in the world to be awarded the Pritzker Prize and the Order of the British Empire from Queen Elizabeth II herself. The Opus is a mixed-use building with restaurants, hotel rooms, private residences and offices available to rent.

Although there are not so many ‘tourist’ attractions in Business Bay itself, from here one can reach Dubai’s main attractions located in Downtown Dubai in just 7-10 minutes:

• The Burj Khalifa, the tallest building in the world (163 floors, 2,723 ft) with observation decks offering stunning views of the whole of Dubai.
• The Dubai Fountain, the largest singing fountains on the planet.
• Dubai Opera, an incredible performing arts center in the form of a d-how shape to honor Dubai’s maritime history.
• The Dubai Mall, the world’s largest shopping and entertainment complex with an area of ​​12,916,692 sq. ft, which is home to the Dubai Aquarium & Underwater Zoo, Dubai Ice Rink, an authentic dinosaur skeleton, EKart Zabeel electric karting, hundreds of boutiques, restaurants, spas and other entertainment.
• Souk Al Bahar, a shopping center designed as a traditional old Arabia market.

As Business Bay is an area of skyscrapers, residential real estate is mainly represented by apartments. Most of the towers provide a wide range of amenities for residents and tenants like gyms, swimming pools and children’s playgrounds, etc. Prices for studios start at AED 410,000 (USD 112,000) for one-bedroom apartments, prices start from AED 570,000 (USD 155,000). The minimum rental price is AED 28000 (USD 7,700) per year for a studio and AED 38,000 (USD 10,500) for one-bedroom apartment.

Property in Business Bay includes a limited series of hotel apartments – private residences in a hotel, which are serviced in the same way as all other rooms. Hotel apartments can be purchased both as a personal residence with maximum luxury, and as a rental option for tourists. The minimum cost of such real estate in Business Bay is AED 450,000 (USD 122,500). For instance, The Vogue offers serviced apartments for sale.

Business Bay also offers a fairly wide selection of penthouses from AED 1,040,000 (USD 285,000). There are also several exclusive options within the area – one can purchase an entire floor of a skyscraper and design or merge the units at their own discretion. For

Business Bay also offers a fairly wide selection of penthouses from AED 1,040,000 (USD 285,000). There are also several exclusive options within the area – one can purchase an entire floor of a skyscraper and design or merge the units at their own discretion. For instance, it is possible to divide complete floors into several apartments or offices and rent these out separately.The minimum price for a full-floor is AED 9,000,000 (USD 2,450,000).

Entire high-rise buildings can also be purchased in Business Bay. The minimum price for such a purchase is AED 138,000,000 (USD 37,600,000).

Surprisingly, Business Bay offers a limited collection of villas and duplexes. They are mainly located on the lower levels of skyscrapers, but there is also the option of the Marasi floating houses located along the canal. Prices for these unique villas start from AED 2,000,000 (USD 545,000), and the annual rent will cost a minimum of AED 175,000 (USD 48 000).