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Everything You Need to Know about Business Bay

Thursday, June 13, 2019

A Brief About the Business Bay, Dubai

Business Bay is considered to be one of Dubai’s elite residential and professional hubs. It lies amidst the shining waters of the Dubai Canal. Its neighborhood is Downtown Dubai. It’s a desirable destination for investors. It was the 6th most popular area to purchase apartments in Dubai.

Business Bay is expected to become the central business hub of Dubai. Thus, it is giving a series of great amenities and a busy lifestyle. Business Bay has some of the most popular apartments, facilities, parks, and supermarkets.

Business Bay hosts multiple commercial buildings. These buildings feature well-reputed profile offices, banks, and shops. This area is well connected. Thus, the lifestyle is just perfect for professionals working in Business Bay, Downtown Dubai, and DIFC. The locality has some of the greatest hotel chains from across the world. These include Oberoi, Taj, and Marriott.

Also, this area has a series of exotic apartments, hotel apartments, and hotels. No wonder this area is drawing a good deal of interest from renters, buyers, and tourists. This region is closely located to the upcoming design destination, Dubai Design District. It also lies close to one of Dubai’s oldest hotspots, Jumeirah.

The Executive Towers is a pioneering project in this locality. It comprises of a series of 12 high rise buildings. These offer a beautiful view of the well-known Dubai Skyline. It is still regarded as one of the topmost places to live and invest in Dubai. In this area, the Marais Floating Villa project and the lavish Dorchester hotel are being worked upon. These are handled by top investors. These high-scale projects are expected to gain great heights in the upcoming years.


Popular Places in Business Bay

The highly popular buildings for living in Business Bay are the Executive Towers, Bayz by Danube, Mayfair Tower, Windsor Manor, and the Executive Bay. Executive Towers was said to be one of the first developments in the area. It features a group of 12 high rise buildings. It has a good mix of commercial and residential properties. Thus, it can be said that Executive Towers has options for renting as well as investing.

Bayz by Danube consists of studios, 1,2 and 3 bedroom apartments. It is an off-plan development that lies close to the Dubai Canal. Mayfair Tower has ready flats for rent. It has a similar mix of apartments in Bayz. Windsor Manor and the Executive Bay residential towers are the other popular places in Business Bay.

Business Bay lies really close to the Downtown Dubai community. The industrial area of Al Quoz lies to its north. The new Habtoor City is located across the Dubai Canal. It is just a short drive from DIFC, Al Safa, Jumeirah, and Sheikh Zayed Road. This makes it a grand location for the city’s professionals to rent or purchase.

 

Famous Projects/Building in Business Bay

Business Bay stretches over an area of 80 million sq. ft. This region is a major location in the city. It features a grand mix of properties. A majority of the residential properties in the area are apartments. This region consists of a few pavilion villas for rent in the Executive Towers compound other than the Sky Villas. The Marais Floating Villa project lies along the Dubai Canal. When it comes to the configurations of the properties, you will be able to find a good number of studios, 1,2 and 3-bedroom apartments in Business Bay. Also, you can find some 4-bedroom luxury apartments and penthouses for rent.

If you are looking at renting in Business Bay, the average prices for studios are at AED 65k, 1-bedroom apartments for AED 85k and a 2-bedroom flat starts at AED 124k. These are way more affordable than neighboring Downtown Dubai. This is where studios start at 75k. When it comes to investing in Business Bay, more and more people are thinking of buying apartments in Business Bay. Here, prices average at AED 809k for studios, 1-bedroom freehold flats at AED 1.3M and 2-bedrooms apartments are worth AED 2M. Speaking of ROI, the properties in Business Bay have a net yield of 6.1%.

The well-known off-plan communities to invest in Business Bay are inclusive of Private Residences by Omniyat, Binghatti Residences by Binghatti Developers and Vera Residences by Damac.

The area is well-known for its fast-paced vibe. This lures in a huge population of young professionals working in Downtown Dubai, Sheikh Zayed Road and DIFC. The lifestyle draws largely to young couples as well as bachelors. Families have shown genuine interest in buying the apartments in this area. This area has a diverse form of culture. Thus, the neighborhood is multi-cultured as well.

 

Buying an Apartment in Business Bay

In the present day, you need to check out the trending buildings to purchase the right apartments for yourself.

Executive Towers is a popular area for apartments for sale in Business Bay. Executive Towers was at the top of the list of areas to buy property in Business Bay. The development has a good size. In total, there are 12 skyscrapers. These are of varying heights. Also, great transport links are one of the other key advantages of buying apartments in Business Bay.

Damac Maison is a Swish development that lies at the opposite end of the district from Executive Towers. These offer exclusive furnished properties for those thinking of buying apartments in Business Bay. Here, apartments for sale start from AED 689,980 for a small unit.

WestBay Tower comes third on the usual list of popular locations to buy apartments. This project is still technically off-plan.

 

Renting an Apartment in Business Bay

You must try to understand certain key points about renting an apartment in Business Bay. Many options are expensive and some are not.

You must pick your location carefully. You must make your house look good. You need to be careful when finding apartments for rent in Business Bay.

Follow the right marketing strategies to increase the visibility of the unit that you intend to sell.

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