Business Bay, one of the most well-known areas, is located south of the city center. The commercial buildings, offices, banks, and shops gave the area its name. Because of the district’s developed transportation infrastructure, the local lifestyle is ideal for professionals working in the district’s territory, Downtown Dubai, and DIFC. Another distinguishing aspect is the presence of major hotel chains such as Oberoi, Taj, and Marriott.
The region has grown into a desirable residential district, with numerous lovely flats and hotel suites. Buyers and tenants are interested in local housing units. The high level of demand can be attributed to the neighborhood’s proximity to the Dubai Creative District design center and Jumeirah, one of the city’s most renowned districts.
In this blog, we will walk you through a complete overview of Business Bay and why it is the best area for buying property in dubai.
Buying Property in Business Bay
Business Bay covers almost 7,500,000 m2 and has a diverse range of residential apartments. The majority of local real estate consists of apartments in high-rise buildings that form part of the city’s renowned skyline. The community contains various studios, 1-, 2-, and 3-bedroom apartments, as well as several premium 4- and 5-bedroom apartments and penthouses. These apartments for sale in Business Bay are priced between AED 2,400,000 and AED 72,800,000.
The neighborhood is well-known for its multicultural and energetic culture, which attracts young people working in the city’s central business district. The local way of life is best suited to young couples and singles. However, the number of families interested in apartments has recently increased.
Return on Investment (ROI) in Business Bay Real Estate
The studio apartments for sale in Business Bay have the best return on investment (ROI) (6.0%). They are the most profitable buy-to-invest alternative for buyers wishing to capitalize on the potential of the local market. Following that are one-bedroom apartments (5.6%) and three-bedroom apartments (5.3%). The return on investment for two-bedroom apartments for sale in Business Bay is 5.1%. It is 4.5% for 4-bedroom apartments and 3.9% for 5-bedroom units, respectively.
Arabianbusiness.com: Dubai records over $3 billion in weeklong transactions
Areas Facilities in Business Bay Dubai
a) Transport Facility
All of the apartments for sale in Business Bay get a designated parking space in the neighborhood. There are several free public parking lots on Al Aamal and Al Saada Streets. Private parking places, which cost AED 10+ per hour, are also available.
Two of the busiest freeways run through the neighborhood. It connects to the Sheikh Zayed Road in the north and the Al Khail Road in the south. There is a direct exit to Downtown Boulevard.
b) Restaurants & Shopping Malls
Shopping is one of the most popular pastimes. Although the Dubai Mall attracts many tourists with its outstanding range of trendy brands, the Bay Avenue Mall attracts many locals with its numerous shops, restaurants, and spas. West Zone grocery is near Mayfair Towers, whereas Al Maya supermarket is near Clover Bay Tower.
Local dining establishments range from informal to fine dining. Waka at the Oberoi, Mama’esh at the Bayswater Tower, Cuisinero Uno at the Steinberger Hotel, and Tong Thai at the JW Marriott Marquis are among the most well-known restaurants.
Relevant: Is It The Right Time to Buy an Apartment in Dubai?
c) Beachfront Community
Water sports aficionados will be pleased to learn that Business Bay is within a 15-minute drive from the famous Jumeirah Beach. Locals can enjoy the gorgeous man made Dubai Canal, which is not truly a beach. Right adjacent to it is a wonderful spot for wandering and admiring the magnificent view of the water’s surface.
d) Entertainment Attractions
The Dubai Canal, as previously mentioned, is a famous attraction. This is a man-made project that allows you to enjoy Dubai Creek’s free-flowing waters. The 3 km long canal produces a magnificent picture and connects the district to the city’s old parts via a very efficient water transportation system.
e) Educational Institutes
There are some of the greatest preschools in town for parents with smaller children. Al-Safe School, which follows the British Curriculum, is the most popular among local families in terms of elementary and secondary schools.
The students who live in Business Bay can drive alone or take public transit to DKP. This location’s universities provide educational program from internationally authorized schools.
f) Healthcare Facilities
The Bay Avenue clinic is regarded as one of the greatest medical institutions in the area. It assists local residents in the treatment of minor illnesses. For conditions that necessitate additional investigation, Al-Saf and Jumeirah hospitals are preferable. It takes about 15 minutes to get there.
g) Community churches, temples, and mosques
There are no places of worship on the island, although residents can walk to the famed Jumeirah Mosque in 15 minutes. Other noteworthy mosques in Dubai include Al Ghafoor and the Burj Khalifa.
The nearest Christian churches are located 15 minutes away in Oud Metha. Hindu residents travel 25 minutes to Bur Dubai to visit the Shiva and Krishna temples.
Why Invest in Business Bay?
Close Proximity to Downtown Dubai
Owning a property on the outskirts of Downtown gives a fantastic opportunity for both residents and smart investors. Many of the city’s most prominent attractions, including Dubai Mall, Dubai Mall Fountains, Burj Khalifa, The Museum of the Future, City Walk, and Dubai Opera, are located downtown. Having a presence within touching distance of all of these areas will appeal to both long-term residents and short-term letters.
Furthermore, the apartments for sale in Business Bay have some spectacular, direct views of the Downtown skyline. A skyline that contains the world’s tallest building, The Burj Khalifa, as well as another notable construction, The Dubai Frame. The Burj Khalifa’s New Year’s Eve firework spectacular draws thousands of visitors each year and is a must-see event. Owning a house with direct visibility over this event puts you in the center of one of the most anticipated extravaganzas each year.
Checkout: Best Emaar Beachfront Properties
As the name implies, Business Bay is a district in Dubai centered on the working professional. It is close to a number of key, contemporary, professional economic hubs. Every day, a large number of professionals visit Business Bay, the Dubai International Financial Centre (DIFC), Dubai Healthcare City, and the Dubai World Trade Centre (DWTC) in Dubai.
Part of the recently unveiled Dubai 2040 Master Urban Plan is to further cement DIFC and Business Bay as the city’s financial epicenters. With a growing workforce expected to arrive in the area in the next few years, the need for high-quality and acceptable housing will continue to rise in waves. This will make establishing a foothold in the Business Bay property market before it takes off a critical step for astute investors.
Accessibility to City’s Best Attractions
Business Bay is bordered by world-renowned restaurants and nightlife locations such as The Maine Brasserie, Boca, Bombay Brasserie, Armani Ristorante, Nusr-Et Steakhouse, Zuma, and Gaia, among others. Dubai Design District (D3), the city’s flourishing art and culture hub, is close and attracts art and fashion lovers from all over the world with its diverse array of art galleries, fashion shops, and local cafes and eateries. While Meydan draws attention to Dubai with the annual Dubai World Cup horse racing event. An event that attracts millions of sports and fashion fans from all around the world.