ABOUT BUSINESS BAY DUBAI
Business Bay is one of the trendy residential and professional hubs in Dubai. Set amidst the gleaming waters of the Dubai Canal, it is neighbours with Dubai’s quintessential neighbourhood, Downtown Dubai.
Business Bay is fast fulfilling its aim to become the central business hub of Dubai, much like Manhattan in NYC, providing an array of top-notch amenities and a fast-paced lifestyle. It is known to be a mixed-use neighbourhood with residential and commercial areas.
IN A NUTSHELL
- A hub of commercial activities and businesses in Dubai
- Features many residential and commercial skyscrapers
- On the banks of the Dubai Canal offering views of the skyline
- Close to Burj Khalifa, The Dubai Fountain and Dubai Aquarium
- Investor-favourite due to upcoming developments and projects
- Home to the former tallest hotel in the world, JW Marriott Marquis
- Lifestyle destination featuring several restaurants, cafes and hotels
Located south of Downtown Dubai, lies one of the most recognisable neighbourhoods in Dubai, Business Bay. True to its name, the area is home to several commercial buildings featuring high-profile offices, banks and shops. Extremely well connected, the lifestyle in Business Bay is ideal for professionals working in the area, Downtown Dubai and DIFC. The area also has some of the leading hotel chains from across the world including Oberoi, Taj and Marriott.
With a selection of beautiful apartments, hotel apartments and hotels, it has grown into a coveted address in the city eliciting an equal amount of interest from renters, buyers and tourists. The area is also closely located to the design destination, Dubai Design District and one of Dubai’s oldest hotspots, Jumeirah.
PROPERTIES IN BUSINESS BAY
Stretching over 80 million sq. ft., Business Bay is a prime location in the city, featuring a mix of properties. Most of the residential properties are apartments and many of the Business Bay buildings are part of Dubai’s iconic skyline.
There are a few pavilion villas for rent in the Executive Towers apart from the Sky Villas and the Marasi floating villas along the Dubai Canal. In terms of the configurations of the properties, you can find a large number of studios, 1, 2 and 3-bedroom apartments, a few 4-bedroom luxury apartments and penthouses.
Popular off-plan communities to invest in Business Bay include Private Residences by Omniyat, Millennium Binghatti Residences by Binghatti Developers and Paramount Towers by DAMAC Properties.
The area is known for its cosmopolitan, fast-paced vibe attracting a huge population of young professionals working in Downtown Dubai, Sheikh Zayed Road and DIFC. The lifestyle here caters largely to young couples and singles, but off-late a lot of families have also been interested in the area, particularly to invest in apartments. In terms of nationalities, there is a good mix of expatriates, categorising Business Bay as a multi-cultural neighbourhood.
RENTAL TRENDS IN BUSINESS BAY
|Apartment Type||Average Rental Price in AED|
For those looking at renting apartments in Business Bay buildings can find plenty of options. These residential towers offer apartments that come with a variety of amenities for tenants such as well-equipped gyms, swimming pools, children’s play areas and so on.
The rents for studios in Business Bay range between AED 28k yearly and AED 200k yearly. You can rent 1-bedroom apartments in Business Bay ranging between AED 35k yearly and AED 200k yearly. A 2-bedroom flat for rent in Business Bay starts at AED 53k yearly and goes up to AED 950k yearly.
Tenants looking for larger residential units can opt for 3 and 4-bed flats. The 3-bedroom flats for rent in Business Bay start at AED 89k yearly and go up to AED 220k yearly. The rents for 4-bed apartments in Business Bay can go as high as AED 290k yearly.
Hotel apartments in Business Bay come in studio to 3-bedroom configurations. The annual rents for hotel apartments in Business Bay range between AED 37k and AED 288k.
Annual rents for penthouses in Business Bay is between AED 199k and AED 1.3M.
|Villa Type||Average Rental Price in AED|
There are few villas for rent in Business Bay. The average rental price for 4-bedroom units is AED 247k yearly.
As for commercial properties, there are shops and offices available for rent. Offices for rent in Business Bay is priced between AED 1.5k yearly and 5.9M yearly. On the other hand, shops for rent in Business Bay cost as low as AED 39k and as high as AED 2.3M yearly.
SALES TRENDS IN BUSINESS BAY
|Apartment Type||Average Sales Price in AED|
It is becoming increasingly popular to buy apartments in Business Bay. The sale prices for studios in Business Bay start at AED 418k and goes up to AED 1.48M. The sale price for 1-bedroom flats in Business Bay range between AED 550k and AED 2.8M. Buying 2-bedroom apartments in Business Bay, one has to spend a minimum of AED 850k. The sale price for 3-bedroom flats start from AED 1.3M and goes up to AED 19.8M.
The 4-bedroom apartment for sale in Business Bay range between AED 2.3M and AED 32.4M. For buying a 5-bed apartment in Business Bay, prices are between AED 4.4M and AED 40M. For a 6-bed unit, the sale price is AED 27.8M.
There are several penthouses for sale in Business Bay available in 2 to 5-bedroom configurations. The sale prices range from AED 2.4M and AED 72.8M. You can purchase a 2-bedroom penthouse at a price of AED 16.6M. A 3-bedroom penthouse for sale in Business Bay ranges from AED 2.8M and AED 17.1M.
A 4-bedroom penthouse for sale in Business Bay is priced as low as AED 2.4M and can go as high as AED 72.8M. The sale price of 5-bed penthouses in Business Bay is between AED 3.35M and AED 70M. While a 6-bed penthouse can be purchased at a price of AED 30M.
Interested buyers can find hotel apartments for sale in Business Bay priced between AED 444k and AED 475M.
|Villa Type||Average Sales Price in AED|
A 2-bed villa can cost AED 2.0M, while a 3-bed villa costs AED 2.8M. On the contrary, the sale price of a 4-bed villa in Business Bay ranges between AED 4.6M and AED 7.0M.
The sale price of townhouses in Business Bay is AED 4.2M for a 3-bedroom unit.
Investors willing to invest in commercial properties can find shops and offices for sale in Business Bay Dubai.
You can buy an office in Business Bay within a price range of AED 212k and AED 34.7M. A retail shop for sale in Business Bay is priced between AED 439k and AED 13M.
ROI IN BUSINESS BAY
The highest ROI for apartments in Business Bay is 6.0% for studio units. According to the results, studios can be the most profitable option for investors. 1-bed flats follow with a 5.6% return, while 3-bed flats have an ROI of 5.3%. The 2-bed flats have an ROI of 5.1%. The 4 and 5-bed flats have an ROI of 4.5% and 3.9% respectively.
Investors interested in buying villas must note that 4-bed houses generated 5.1% returns.
MOST POPULAR BUILDINGS IN BUSINESS BAY
- Executive Towers
- DAMAC Towers by Paramount Hotels and Resorts
- Merano Tower
- Capital Bay Towers
- Ontario Tower
The most popular buildings for residing in Business Bay are predictably the Executive Towers, DAMAC Towers by Paramount Hotel & Resorts, Merano Tower, Capital Bay Towers and Ontario Tower. These are also among the most popular buildings to buy apartments in Business Bay.
Executive Towers was one of the first developments in the area and features a cluster of 12 high rise buildings. With a mix of commercial and residential properties, Executive Towers is one of the popular residential towers to rent in Business Bay.
DAMAC Towers by Paramount Hotels & Resorts is the second most popular building on the list. It is a four-tower complex standing tall in Business Bay. The three residential buildings feature 1,200 residential apartments while the fourth building houses the Paramount Hotel with 800 luxurious rooms.
Merano Tower is the third most popular building in Business Bay. It is a 29-storey building developed by DAMAC Properties. The skyscraper features apartments in studios, 1, 2 and 3-bedroom configurations.
Other popular buildings for rent and sale include Capital Bay Towers, Ontario Tower, Damac Maison Majestine, DAMAC Maison Cour Jardin and Mayfair Tower.
BUSINESS BAY FLOOR PLANS
Those looking for Business Bay floor plans can browse through the floor plans available for popular communities/buildings in Business Bay.
HOTELS IN BUSINESS BAY
The hotels in Business Bay are luxurious resorts that offer proximity to the many tourist attractions part of Downtown Dubai. The best hotels in Business Bay are:
- Steigenberger Hotel
- Radisson Blu Hotel Waterfront
- JW Marriott Marquis Hotel
- Taj Dubai
- The Oberoi
The Steigenberger Hotel is one of the most popular hotels in the area. It is a 5-star hotel location on Al Abraj Street. The 19-floor hotel also has many dining options. It is home to The Backyard, a nightlife spot that is one of the best bars in Business Bay.
Radisson Blu Hotel Waterfront is located adjacent to the Dubai Water Canal. The hotel consists of 432 rooms, 11 meeting rooms and 8 fine-dining restaurants and bars.
Known to be the second tallest hotel in the world, JW Marriott Marquis Hotel Dubai is one of the best 5-star hotels in Dubai. The twin-towered hotel can be seen from all over Business Bay Dubai. It offers a large 80,000 sq. ft. ballroom, an outdoor pool, a spa and 14 dining venues.
Taj Dubai is located on the edge of Business Bay. It is within walking distance from both the Business Bay and Burj Khalifa/Dubai Mall metro stations. The hotels also offer deluxe rooms, a spa, outdoor pools and various other amenities.
The Oberoi offers views of Burj Khalifa from the balconies of its luxury hotel rooms. The hotel also features Ananta which is one of the best fine-dining Indian restaurants in Dubai. Guests can take advantage of the free valet parking and yoga classes.
TRANSPORTATION AND PARKING SPACES IN BUSINESS BAY
The apartments in the area come with dedicated parking spaces. There are some free public parking spots on Al A’amal Street and Al Sa’ada Street. There are also several private parking lots that charge AED 10+ per hour.
Business Bay Dubai is well connected to two of the most-used highways in the city; in the north, it is connected to Sheikh Zayed Road and in the south, there is the Al Khail Road. There is also an exit leading directly onto the Downtown Boulevard.
PUBLIC TRANSPORTATION IN BUSINESS BAY
Getting around the community is not a challenge at all. The Business Bay Metro Station is available for those relying on public transportation in Business Bay along with a selection of taxis and buses that ply the area.
Other metro stations near Business Bay include Burj Khalifa/ Dubai Mall Metro Station, Financial Centre Station and Emirates Towers Station.
AMENITIES, SCHOOLS AND HEALTHCARE
Those living in Business Bay have no reason for concern when it comes to proximity to amenities.
SUPERMARKETS IN BUSINESS BAY
When it comes to supermarkets in Business Bay, there is well-stocked Spinneys and Choithrams in Bay Avenue to cater to the populace of the area. There is also a West Zone Supermarket near Mayfair Towers, an Al Maya supermarket in Clover Bay tower and several Zoom mini-marts.
CHURCHES, TEMPLES AND MOSQUES IN BUSINESS BAY
For the spiritual needs of the community, there aren’t any actual mosques in Business Bay itself. Close by there is the famed Jumeirah Mosque, a short 15-minute drive away. Other notable mosques near Business Bay include the beautiful Al Ghafoor Mosque and the Burj Khalifa Mosque in Downtown Dubai.
The closest church for residents of the area is the St Mary’s Catholic Church and the Holy Trinity Church in Oud Metha, roughly 15 minutes away. Hindu residents of the community can head over to Bur Dubai and visit the Shiva and Krishna temples, 25 minutes away.
SCHOOLS NEAR BUSINESS BAY
Parents with younger children can choose from some of the cities best preschools like Hummingbird Nursery in Bay Avenue, Maple Bear Pre School in The Burlington Tower, Blossoms Nursery in Downtown Dubai and Canadian Kids Nursery in Churchill Towers.
When it comes to elementary and higher secondary schools near Business Bay, there is Jumeirah English Speaking School and Safa British School in Al Safa.
Dubai International School Al Quoz follows the American curriculum till Year 12. Towheed Iranian Boys School is located at Al Meydan Road.
GEMS Our Own Indian School is located near Manama Hyper Market, Al Meydan Road and Global Indian International School (GIIS) Dubai Campus is located near Al Manar Islamic Center, Al Meydan Road.
Another school near Business Bay is the Gems Wellington Primary School in Al Satwa offering the UK/IB system until Year 13.
For older students, the universities part of Dubai Knowledge Park are easily reachable by both car and public transport and offer educational programs from internationally accredited institutions.
CLINICS AND HOSPITALS IN BUSINESS BAY
One of the best hospitals in Business Bay, Emirates Hospital Clinic in Bay Avenue serves the community well to treat minor ailments. For conditions that require more analysis, Medcare Hospital in Safa and Emirates Hospital in Jumeirah are a short 15-minute drive away.
Geographically in Dubai, Business Bay is a close neighbour to the Downtown Dubai community, with the industrial area of Al Quoz to its north, and the new, contemporary Al Habtoor City lying across the Dubai Canal. It’s a short drive from DIFC, Al Safa, Jumeirah and Sheikh Zayed Road, making it a great location for the city’s professionals to rent or buy properties.
SHOPPING, DINING AND NIGHTLIFE
As one of the most upscale locations in Dubai, Business Bay is a bustling residential, professional and commercial hub. The community has a fast-paced, vibrant lifestyle complete with trendy bars, busy cafes and luxurious spas.
MALLS IN BUSINESS BAY
Retail therapy is one of the staples of life in Dubai. Although The Dubai Mall with its impressive catalogue of fashion brands is the popular choice when it comes to shopping, the Bay Avenue Mall in Business Bay has a good selection of diverse stores, restaurants and spas.
RESTAURANTS IN BUSINESS BAY
The restaurants range from casual dining eateries to fine-dining outlets. Like most upscale locations in Dubai, Business Bay has built a commendable repertoire of interesting dining options.
Waka in Oberoi, Mama’esh in Bayswater Tower, Cuisinero Uno in Steigenberger Hotel and Tong Thai in JW Marriott Marquis are some of the well-known restaurants in Business Bay. The many dining outlets in Downtown Dubai, City Walk and DIFC are also a short distance away.
When it comes to licensed bars and pubs there is no shortage for those living in the community. The Backyard in Steigenberger Hotel, Vault in JW Marriott Marquis and The Eloquent Elephant in Taj Dubai are some of the best lounges and bars in Business Bay.
BEACHES NEAR BUSINESS BAY
Water lovers will be happy to note that the famous Jumeirah Beach is only 15 minutes away from the area, making it easy to plan a day lounging by the sea. While not exactly a beach near Business Bay, residents can visit the gorgeous man-made Dubai Canal, which has a spectacular boardwalk allowing you to stroll along and take in the magnificent waterfront views.
LEISURE ACTIVITIES AND NOTABLE LANDMARKS
The defining trait of the Business Bay address is most definitely the remarkable Dubai Canal, a man-made project that highlights the free-flowing waters of the iconic Dubai Creek. The 3-km canal not only makes a pretty picture but also connects Business Bay to the older parts of Dubai, through an extremely efficient water transport system.
It is already becoming one of the most exciting places to visit in Business Bay Dubai. It is being developed into a sought-after residential and lifestyle hub with some of the most-prestigious projects taking place here. Notable amongst these are the Marasi floating villas, a project of villas docked on Business Bay and floating along the Dubai Canal.
Another highlight is the JW Marriott Marquis hotel, which was the tallest hotel in the world until February 2018, when the Gevora Hotel on Sheikh Zayed Road overtook it by 1m.
OUTDOOR ACTIVITIES, FITNESS AND BEAUTY
Owing to its commercial popularity and busy nature, it’s easy to imagine that there may not be too many flourishing parks in Business Bay Dubai. This is far from the truth, residents can stretch their muscles and take in a walk at the Bay Avenue Park, near Spinneys in Business Bay. The pet-friendly Burj Park is also available in neighbouring Downtown Dubai. There are many fun things to do in Burj Park. You can go cycling, witness the Wings of Mexico and the world’s tallest performing fountain. Safa Park’s large running track is just across the road near Sheikh Zayed Road.
There is also no shortage of indoor fitness centres with a selection of gyms dotted across the area. Notable fitness centres in Business Bay are Fitness First in Vision Tower, Elevation Fitness on Al Sa’ada Street and BARE in Clover Bay Tower. Bare Dubai is one of the best gyms in Business Bay offering full body training sessions along with workouts for first timers.
For a quick beauty fix, residents can visit Rifa Beauty Salon at The One by Omniyat, Valery & Co in Executive Towers and Brushed Beauty Salon on Al Asayel Street. To indulge in a more luxurious spa session, head to the spas in JW Marriott, The Oberoi or Taj.