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Business Bay is a popular area for real estate investment in Dubai, known for its business-friendly infrastructure and proximity to major attractions like Downtown Dubai and Dubai Canal. Over the past decade, it has developed into a thriving commercial and residential neighbourhood.
Several high-end residential towers have been constructed in Business Bay, offering investors and end-users a range of options when purchasing apartments in the area. From sleek high-rises with views of the Dubai skyline to more affordable options for young professionals and families, Business Bay caters to varying budgets.
The area is well-serviced by public transportation, including the Dubai Metro, and plenty of retail outlets, cafes, and recreational spaces within walking distance. While the key attractions for home buyers include proximity to offices in the financial district, reputable developer projects with amenities, and spacious apartments with quality finishes.
With its central location and business-oriented lifestyle offerings, Business Bay is regarded as one of Dubai’s most popular areas for expatriates and investors seeking apartments for sale.
Types of Apartments in Business Bay
Spanning 46 million square feet, Business Bay is a substantial area in Dubai, housing over 240 buildings that are both residential and commercial.
The residential options in this mixed-use development include apartments and penthouses. Residents can also conveniently locate luxurious units near office spaces.
The apartments for sale in Business Bay vary from single-bathroom studios to expansive 5-bedroom apartments and architecturally grand penthouses. These residential units cater to a wide range of preferences and needs.
Furnished Apartments for Sale in Business Bay
Business Bay has emerged as a top destination for real estate buyers seeking furnished apartments in Dubai. Several high-end residential towers offer fully-fitted units with contemporary designs and quality finishes, appealing to professionals and investors looking for a move-in ready home in a prime location.
Type of Apartment | Average Sale Prices |
Studio Apartments | AED 850k – AED 1.5M |
1-Bed Apartments | AED 700k – AED 7.2M |
2-Bed Apartments | AED 1.1M – AED 2.9M |
3-Bed Apartments | AED 1.8M – AED 39M |
4-Bed Apartments | AED 2.6M – AED 52M |
5-Bed Apartments | AED 15M to AED 175M |
Unfurnished Apartments for Sale in Business Bay
For buyers looking for more flexibility or to fit out a property to their tastes, Business Bay offers options for unfurnished apartments across various developments. These bare-shell units allow investors and end-users to customise the space with their choice of furnishings and design elements.
Off-plan Apartments for Sale in Business Bay
Off-plan apartment sales have been popular in Business Bay, allowing investors to buy properties in upcoming towers at attractive pre-launch prices. Several reputable developers have offered payment plans for projects still under construction, appealing to buyers looking to invest in future inventory set for completion in 3-4 years.
Type of Apartment | Average Sale Prices |
Studio Apartments | AED 798k – AED 1.7M |
1-Bed Apartments | AED 1M – AED 4.5M |
2-Bed Apartments | AED 1.5M – AEd 29M |
3-Bed Apartments | AED 2.9M – AED 39M |
4-Bed Apartments | AED 4.6M – AED 52M |
Prominent Buildings to Buy Apartments in Business Bay
Business Bay features many high-profile residential developments by renowned developers, offering buyers premium amenities and facilities. Top buildings include:
- DAMAC Towers by Paramount: These are indeed prominent buildings in Business Bay, offering a range of apartments with views of the canal and Downtown Dubai. They comprise three residential towers and one hotel tower, featuring amenities like swimming pools, fitness centres, and more.
- DAMAC Maison Prive: This is a twin tower known for its waterfront views and is popular in Business Bay. The 30-storey building has various apartment styles, all furnished and luxurious.
- Executive Towers: This complex is highly popular for residential apartments in Business Bay. It includes 10 residential towers, 1 hotel tower, and 1 commercial tower. The towers offer a variety of luxurious and spacious apartments and are within walking distance from Downtown Dubai.
- Mayfair Tower: Known for its luxurious yet functional design, this tower is centrally located in Business Bay, close to major roads and the Dubai Metro Station. It offers a range of amenities and has various apartments for sale.
- Merano Tower: Developed by DAMAC Properties, this 22-storey residential tower features spacious studio to 3-bedroom apartments equipped with amenities like swimming pools and gymnasiums.
Other notable developments in Business Bay as of 2024 include Canal Heights 2 by DAMAC, Al Habtoor Tower, and Ontario Tower, which offer a blend of luxury and functionality with a variety of amenities and services.
These projects cater to varying requirements, from investment-grade units to luxurious homes, giving buyers plenty of options.
Sale Price Trends for Apartments in Business Bay
Apartment prices in Business Bay have shown a generally upward trend in recent years as the area has developed into one of Dubai’s premier commercial and residential hubs. However, sale prices vary widely based on factors like developer, amenities, unit sizes, views, and payment plans.
Apartment Type | Average Sales Price in AED |
Studio | AED 996,000 |
1-Bed | AED 1,559,000 |
2-Bed | AED 2,517,000 |
3-Bed | AED 4,014,000 |
4-Bed | AED 12,042,000 |
Facilities in Business Bay
Business Bay contains a variety of lifestyle facilities and amenities to serve the needs of residents and visitors. Key facilities include:
- Access to Dubai Metro and tram stations for ease of transit
- Walking and cycling tracks along Dubai Canal
- Dubai Mall, Burj Khalifa in close proximity
- Abundance of restaurants, cafes, and retail outlets
- Parks and recreational spaces like Bay Avenue Park
- Schools and nurseries for families with children
- Offices and coworking spaces in commercial towers
- Luxury hotels including Address Boulevard, SLS Dubai Hotel
- Healthcare facilities like Aster Hospital and clinics
- Convenience retail and grocery stores in most towers
With robust infrastructure and connectivity, Business Bay has developed into a comprehensive district with facilities for work, life, dining, and leisure.
Benefits of Living in Business Bay
Centrally situated between “new” and “old” Dubai, Business Bay offers residents a desirable balance of lifestyle perks and convenience. Key benefits include:
- Proximity to key business hubs like Downtown Dubai, DIFC, and Dubai World Trade Centre
- Walking access to dining and retail at Dubai Mall and Souk Al Bahar
- Transit connectivity via Metro, tram, and bus routes to other parts of Dubai
- Access to green spaces like Bay Avenue Park, Dubai Canal, and waterfront promenade
- Reputable community with the presence of major local and multinational companies
- Hotels, serviced apartments for visiting guests and business travellers
- Schools, nurseries, and healthcare facilities available in the area
- Upscale residential towers by top developers with 5-star amenities
- Investment-friendly area with high rental yields and capital appreciation
With professional and family-oriented offerings, Business Bay appeals to investors and residents, prioritising connectivity, lifestyle, and convenience.
Why Buy Property in Business Bay?
Business Bay has emerged as one of Dubai’s most sought-after real estate investment destinations due to its prime location, business-friendly infrastructure, and lifestyle offerings.
Some of the critical factors that make Business Bay an attractive area for property buyers include:
- Strategic location between old and new Dubai allows easy access to key business districts like Downtown and DIFC
- Established commercial area with many multinational companies, hotels, and retail outlets
- The presence of reputable developers like Emaar, Damac, and Azizi delivering high-quality projects
- Strong connectivity via roads, metro, tram, and water transport along the Dubai Canal
- Balance of commercial and residential properties providing good rental income potential
- Family-friendly community with availability of schools, retail outlets and parks
- High capital appreciation with properties valued significantly higher compared to a decade ago
- Upcoming Expo 2020 site and new developments further boost demand and prices
With strong fundamentals and growth prospects, Business Bay promises profitable investments and quality living for both investors and end-users.
Conclusion
Business Bay has cemented itself as one of the most compelling destinations for real estate buyers in Dubai. Underpinned by robust connectivity, a business-friendly ecosystem, reputable developers and communities, and rising investment potential, the area offers a wide selection of apartments catering to varying needs and budgets.
Whether you are seeking a premium high-rise home or an affordable starter unit, Business Bay provides the right mix of lifestyle perks, convenience, and long-term financial upside that makes it a worthwhile option to consider. With its central location and expanding offerings, the area is set for strong growth and returns going forward.
FAQs
Prices per square foot can range quite significantly based on factors like developer, payment plan, amenities, etc. But on average, prices tend to be between AED 1,200 and 1,800 per square foot.
Yes, several projects across Business Bay have options for buying apartments on a freehold basis, granting full ownership rights to foreign nationals.
Investment properties can yield 7-9% returns depending on factors like location, developer, and unit type. Studio and 1-bed units tend to have the strongest rental demand.
Several banks do offer mortgages for ex-pats buying off-plan, often requiring a 50% down payment and financing the balance over instalments.
Service charges vary by project but are typically between AED 10 and 20 per square foot annually. This covers maintenance, cooling, amenities, and communal area upkeep.
While the area offers luxury and convenience, there are also some challenges to living in Business Bay, such as the dominance of skyscrapers, traffic congestion during peak hours, and limited schooling options within the immediate vicinity.
