TOP DESTINATIONS for Living and Investment

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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 canal  entire area. There are dozens of restaurants, as well as cultural and entertainment facilities along the waterfront, including the famous aqua theatre, La Perle.

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.

In 2017, the world-renowned travel guide publisher, Lonely Planet, ranked Business Bay as one of the most interesting destinations on the planet, alongside London, New York and Rio de Janeiro. The proximity to the attractions of Downtown Dubai, developed infrastructure and dynamic life constantly attract tourists from all over the world. Farmers’ markets are organized in the area of Bay Avenue as well as music festivals and celebrations that are held here on New Year’s, Earth Day, Mother’s Day and other dates throughout the year.

Being the business hub of Dubai, demand for both commercial space and residential real estate in Business Bay continues to be high, as expatriates make up a significant proportion of office and retail workers. As stated by experts, the local economy will grow by an average of 5-9% per year for the next several years. Hundreds of local and international companies open their offices in Dubai monthly, which means they will need office spaces to house their employees.

Business Bay belongs to the freehold territories – here one can buy residential and commercial real estate in full ownership. In 2020, the district became one of the most sought-after among investors looking for affordable apartments.

At the end of 2020, the average return on investment of real estate in Business Bay was 5.9%. In the residential real estate sector, studios had the highest ROI of 6.0%. One-bedroom apartments are in second place with an index of 5.6%