About Business Bay Dubai
Dubai is a popular business hub, which also serves as a great tourist destination for people from all corners of the world. Business Bay Dubai is, on the other hand, one of the trendiest and cozy residential and commercial centers in this lucrative city. While it has a lot of properties already, more are still coming up with a vision of becoming the central business area of Dubai.
Business Bay Dubai (open in a new window) location is in the south of downtown Dubai. On its north is the Al Quoz industrial area. Other neighboring cities include the AI Habtoor city (open in a new window), Al Safa (open in a new window), Jumeirah (open in a new window), DIDC, and Sheikh Zayed (open in a new window). The good thing about Business Bay is that it is convenient for professionals working here and investors planning to rent or buy properties.
As a matter of fact, in 2020, a Dubai Annual Sales report from Bayut listed Business Bay Dubai as the most popular city with affordable apartments. That said, you will find everything you need at Business Bay Dubai — this includes shops, high-profile offices, banks, hotel chains, and a pleasant nightlife for those who want to have some fun.
Real estate in Business Bay Dubai
Most of the properties in Business Bay are residential in the form of apartments. Most buildings make up the Dubai iconic skyline. You can search for studio accommodations, 1, 2, 3, or 4-bedroom apartments, and a few penthouses, depending on your needs and budget. These are found in the Sky Villas, Marasi Floating Villas in Dubai Canal, and a few of the available pavilion villas in Executive Towers. These form the high-rise apartments in the city.
Being a cosmopolitan region with a fascinating vibe, most young professionals working in Business Bay and other neighboring towns live here. However, due to the increased number of apartments and the possibility to invest in real estate, even families are moving to Business Bay.
As a whole, Dubai is a multicultural city having people from different countries and backgrounds. Business bay has a good share of this demographic mixture from expatriates.
How easy can you rent an apartment or an office at Business Bay? The answer is that there is an option for almost everyone. Most of these options come with swimming pools, gyms, a furnished lobby, and an area for children to play.
That said, the price of accommodation in Business bay Dubai depends on the size and area chosen. However, the standard range is as follows for different categories of apartments.
- Studios range between is AED 28,000 – 200,000 per year
- One-bedroom ranges between AED 35,000 – 200,000 per year
- Two-bedroom ranges between AED 53,0000 – 250,000 per year
- Three-bedroom ranges between AED 89,000 – 270,000 per year
- Four-bedroom ranges between AED 94,000 – 299,000 per year
- A penthouse ranges from AED 199,000 to 1,300,000 per year
These are the most popular residential categories you will find. However, for those who plan to rent villas, they are also available, and the price range is about AED 247,000 annually for a 4-bedroom unit. Hotel accommodations for rent are also available in the same configuration as stated above — studio to three-bedroom apartments, and the price ranges between AED 37,000 to 288,000 annually.
When it comes to commercial properties, most offices in Business Bay Dubai cost about AED 1,500 to 5,000,000 yearly. On the other hand, shops range between AED 39,000 and 2,300,000 every year, depending on the size of the business and its location.
What if you want to buy the property rather than rent? A studio apartment can cost between AED 418,000 and 1,480,000. A 4-bedroom flat can cost from AED 2.3M to 32.4M, while penthouses can go up to 72.8M. Hotel apartments are also available for sale, and the price ranges from AED 444,000 to 475M.
You might be surprised that there are villas, townhouses, offices, and shops in the area for sale. It is a matter of deciding where you want to own a property in Business Bay Dubai and then visiting several realtors in the area to know what you can afford.
The most profitable apartments for investors are studio units, whereby you can take home 6.0 percent ROI. With 1, 2, 3, 4, and 5-bedroom units, you can get a 5.6, 5.3, 5.1, 4.5, and 3.9 percent ROI, respectively.
Things to know about Business Bay Dubai
If you are new to Business Bay, you might want to go through this information to feel at home whether you are a tourist or plan to extend your stay for a long time.
- Most popular buildings: DAMAC Towers, Executive Towers, Capita Bay Towers, Merino Tower, Ontario Tower, and Mayfair Tower.
- Most popular hotels: Taj Dubai, Steigenberger Hotel, JW Marriott Marquis Hotel, The Oberoi, and Radisson Blu Hotel Waterfront
- Transportation: The town is connected to two popular highways in Dubai from the north by Sheikh Zayed Road and the south by Al Khail road. For those who need public transportation, Business bay Dubai metro station is the best option — it is cheap and convenient.
Other metro stations near the area include Financial center station, Burk Khalifa, and Emirates Tower Station. However, buses and taxis are also available for your consideration.
- Parking: Your accommodation apartment has a dedicated parking area for tenants. In addition, there are free parking spaces along Al Sa’ada Street and Al A’amal Street. If you want private parking, they are also available at a fee — usually more than AED 10 for one hour.
- Basic amenities and facilities: The most popular supermarkets are Spinners, Choithrams, West Zone supermarket, and Zoom mini-marts.
For those who might be concerned about the availability of mosques, temples, and churches, may not be present in Business Bay, but they are reachable within a few minutes’ drive. For instance, it will only take you 15 minutes to reach Jumeirah Mosque, Burj Khalifa Mosque, and Al Ghafoor Mosque. It takes the same amount of time to reach Holy Trinity Church and St. Mary’s Catholic Church in Oud Metha. As for Hindu residents, it takes 25 minutes to reach the nearest temple in Bur Dubai — Shiva and Krishna temple.
Schools: Business bay Dubai has preschools such as Maple Bear Pre School, Hummingbird Nursery, Canadian Kids Nursery, and Blossoms Nursery for your consideration. Both elementary and secondary schools are also available nearby, including Safa British school and Jumeirah English Speaking School.
In general, education is easily accessible for residents of Business Bay, whether it is inside the town itself or you have to drive for a few minutes to reach there.
- Fun activities: For those looking forward to a shopping spree, bay Avenue Mall is the place to go. It might not match up the likes of Dubai Mall, but you will find diverse stores for your fashion taste, spas, and also restaurants.
- How about the nightlife? From the restaurants listed before, you can enjoy different types of cuisines any evening. Some of these, such a Steigenberger Hotel and the Eloquent Elephant, come with a bar to quench your thirst after a long day.
As for beach lovers, Jumeirah beach comes in handy since it’s nearest Business bay. Other fun places include Bay Avenue Park, Burj Park, and Safa Park running track. Sometimes Bay Avenue hosts community events that can be both entertaining and educational. These include music festivals, farmers’ markets, and occasional celebrations such as new year’s or mother’s day.
Wrapping It Up
Business Bay is one of the best prime locations for both investors and professionals. The city setting is convenient for everyone whether you live single, have a small family, or have an extended family. It all depends on your budget and needs. Luckily most amenities and facilities are available in the city, and those that are not are only a few minutes drive from Business bay Dubai.
The only thing you might not like in Business Bay is traffic-related disruptions, which happen a lot of times. However, to be fair, this is a very tiny issue considering the rest of the things that you got to enjoy.
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