Business Bay is a commercial, residential, and business cluster adjacent to Downtown Dubai. It stretches over an area of about 6 square kilometers on both sides of the Dubai Water Canal, from the Ras Al Khor Wildlife Sanctuary to Sheikh Zayed Road.
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Business Bay is a commercial, residential, and business cluster adjacent to Downtown Dubai. It stretches over an area of about 6 square kilometers on both sides of the Dubai Water Canal, from the Ras Al Khor Wildlife Sanctuary to Sheikh Zayed Road.
Initially designed as a major business hub, several large office centers were built in the area, but after the 2008-2013 economic crisis, residential and commercial real estate became in high demand. Due to the high flow of tourists in Downtown Dubai and the high demand for short-term rentals, the total number of luxury hotels in Business Bay is already approaching the second dozen. The number of premium residential complexes with their own shopping areas, recreational infrastructure, and green areas is also increasing.
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The general developer of Business Bay is the state-owned company Dubai Properties, owned by the ruler of Dubai. The developer plans to implement the ambitious Marasi Business Bay project, which will become a new attraction of the district and the entire city. The project envisages the creation of a grand yacht club with a berth for 1,200 places and a pier of 16,000 sq.m with a water station. It is also planned to create trading areas for hundreds of shops and restaurants and a public park of 60 thousand sq.m with various places for recreation and entertainment.
Currently, a business lifestyle predominates in the area, with few parks and large entertainment locations, and the Dubai Water Canal promenade is not yet fully developed. This is largely due to the ongoing construction, as less than a hundred of the planned two hundred buildings have been constructed.
Business Bay has a well-developed network of 4-lane internal roads that lead to Sheikh Zayed Road and Al Khail Road - the two main highways that run throughout Dubai. The western boundaries of the district are adjacent to the red line of the metro, and Business Bay station provides access to both ends of the city. Several bus routes run along the main roads of the area, and stops for public water transport and private boat docks are built along the canal. The canal provides access to the Dubai Creek, Jumeirah and Al Wasl areas.
There are about half a dozen preschool institutions in Business Bay, such as Learning Tree Nursery, Canadian Kids Nursery, and First Path Montessori. And outside the district, there are at least a dozen schools that can be reached within 10 minutes. In particular, Horizon English School Dubai offers a British education program, Clarion School offers an American one, and Global Indian International School Dubai teaches children according to the Indian system.
Emirates Hospital Clinic operates in the Bay Avenue shopping center, while the nearest hospitals, Medcare Hospital Al Safa and Zabeel Health Center, are a 10-minute drive away.
The Business Bay area attracts investors' attention because the real estate here is cheaper than in Downtown Dubai, with almost the same high quality of life. Premium residential properties are being built in Business Bay, and high transport accessibility and convenient location allow for quick access not only to Downtown Dubai but also to other popular destinations: 15 minutes to DIFC and Jumeirah beaches, and 20-30 minutes to Dubai International Airport, Palm Jumeirah, Burj Al Arab, and Dubai Marina.
That's why tourists who come to see Dubai's attractions, businessmen heading to the city's business and exhibition centers, as well as local and foreign professionals who want to live near their workplace often choose housing in Business Bay.
This creates demand for both short-term and long-term rentals, and the ROI for apartments with 1-2 bedrooms reaches 5.7%. Studios show the highest ROI at 6.7%, which confirms the demand for real estate in Business Bay for young entrepreneurs and office workers. Further development of the district's infrastructure will only increase demand and prices, making it even more attractive from an investment standpoint.
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