In Dubai, residential units are still attractive assets for foreign investors. Last year, 84,196 buying and selling transactions worth more than $81,000,000,000 were conducted in the city. The Business Bay district, one of the hottest neighbourhoods, has become a leading sales center. Its development began in 2003. Despite the fact that this is a young community, it holds a leading position in the ranking of the best locations for buying an apartment in Dubai. Let’s consider the main reasons that push an investor and an end-users to purchase a property in Business Bay the UAE.
An overview of the community
Business Bay has literally grown out of the shadow of the neighbouring community of Downtown Dubai and become one of the most sought-after areas due to convenient location directly on the canal bank, excellent transport connections, and perfect amenities for both business and leisure.
Its international status has risen thanks to praise from Lonely Planet, the global travel guidebook publisher. The publisher placed the community in the fifth place of the top-10 “coolest neighbourhoods in the world to visit.”
To the north, it borders with lustrous Downtown Dubai and intersects with the Dubai Canal. There is a 12-kilometer walking promenade that allows you to admire the running ferries to Dubai Marina and the Al Fahidi Historic District.
A broad range of properties in Business Bay
Business Bay covers more than 7,000,000 m2. It is one of the best places in the city with a broad range of different types of real estate. Most of the residential units consist of apartments in high-rise buildings that are part of the famous Dubai skyline. In terms of configurations, there are a large number of studios, 1-, 2- and 3-bedroom apartments, several luxurious 4- and 5- bedroom apartments and penthouses.
The average apartment prices can be found in the following table:
|A number of bedrooms in an apartment||The average apartment price (AED)|
The average villa prices are the following:
|A number of bedrooms in a villa||The average villa price (AED)|
One of the main advantages of the business community is the developed infrastructure. It includes:
- Transport infrastructure. It is very fast and easy to get around the community. The local metro station, taxis, and buses are the main available public means of transport. Drivers of private cars and various modes of transport can use private and public parking spaces near each residential and commercial building.
- Healthcare institutions. One of the best clinics in the city can be found on Bay Avenue. You can receive all the necessary care and treatment for minor diseases. For health issues requiring deeper analysis, you should visit clinics in Safa or Jumeirah. They are located just 15 minutes drive away.
- Educational institutions. The neighbourhood offers a large selection of the best pre-schools in the city. Primary and middle school students who live in Business Bay attend schools located in neighboring areas.
- Outlets. On Bay Avenue you can find Spinney and Choithrams supermarkets with an extensive selection of products that can meet every demand of the local residents.
Why is the purchase of real estate in Business Bay a good decision?
In terms of development and lifestyle, the Business Bay area is often compared to Manhattan. This is the business center of the metropolis. Here, the housing market provides a broad range of commercial and residential units. The main pros are the following:
- Strategic location. Business Bay is located close to the fashionable community of Downtown Dubai, Dubai Marina, and Jumeirah Beach.
- Proximity to the airport. Dubai International Airport is conveniently located just 15 minutes drive away.
- Developed infrastructure. A well-maintained promenade for walking, different restaurants, shopping centers, and entertainment venues attract tourists throughout the year.
- The closeness to attractions. The record-breaking Burj Khalifa, singing fountains, and the Aquarium are not far from the neighbourhood.
- Active development. Currently, a new sub-community of Marasi Business Bay is under construction on the coastal territory of Business Bay. The master plan of the ambitious project includes not only modern apartments in multi-apartment residential complexes, but also houseboats.
Assistance with buying property in Business Bay
Visit the official AX Capital website for up-to-date information regarding premium-class properties in Business Bay or other thriving communities in Dubai. Agency clients can count on expert help with the selection of a dream home, full support during the real estate transaction, and quality after-sales service.