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Penthouses in Business Bay

Economic development in Dubai attracts investors from all over the world. The UAE state has promoted tourism infrastructure, and ensured the absence of taxes on business. Dubai symbolizes a high standard of living, so the cost of luxury real estate is constantly growing. Laws regarding real estate allow foreigners to buy apartments with no restrictions. They are not even taxed, so the purchase of real estate in Dubai is a safe investment for the future.

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About the district of Business Bay

Business Bay is the largest business center in Dubai. The district was built in 2003 as part of Sheikh Mohammed Rashid Al Maktoum’s vision to develop a global commercial hub in the UAE. The area is filled with office buildings and upscale apartments that are surrounded by green areas and water channels.

It is bordered by the cultural center, Downtown Dubai, the Al Quoz industrial area and the Dubai Design District. The Al Khail Road/E 44 and Sheikh Zayed Road/E11 pass through the area leading to the DXB airport. Public transportation is represented by:

  • 20 bus stops with six routes.
  • There is a red line subway station in the area.
  • DC1 and DC2 waterway ferry lines.
  • A taxi service.

Whilst buying an apartment in any of the complexes comes with a private parking space, there is also free parking on Al A’amal Street. Business Bay has several reputable kindergartens and prestigious schools with international standards of education. Within 15 minutes of the neighborhood is Dubai Knowledge Park, which includes universities and educational centers for students. There are medical clinics in the area.

Features of Business Bay real estate

The penthouses, which are located on the upper floors, are considered the most elite residences. The neighborhood is constantly evolving and will include more than 240 residential, office and retail buildings when completed.

Prices for penthouses start at AED 1,850,000 (USD 503,000) for two-bedrooms. Some complexes offer an entire floor for purchase, which can be divided or furnished to your liking.

Al Habtoor City, a huge mixed-use complex with several residential towers, shopping malls, restaurants and hotels, stands out. The price per square meter in a penthouse starts at AED 18,400 (USD 5,000). The Volante Tower and Urban Oasis apartments have a maid’s room and 24-hour maintenance, prices for six-bedroom penthouses start at AED 18,300,000 (USD 5,000,000).

The Executive Tower offers the most economical options.

The penthouses usually come with additional features such as a parking space, a swimming pool, several bathrooms, high-speed Internet and TV, and central air conditioning.

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