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.
According to Aleizba.com Dubai Annual Sales Report 2020, Business Bay is one of the popular areas for buyers and investors looking for affordable apartments.
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.
SALES TRENDS IN BUSINESS BAY
Apartments for Sale in Business Bay
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.
Apartment Type | Average Sales Price in AED |
Studio | 660,000 |
1-Bed | 980,000 |
2-Bed | 1,594,000 |
3-Bed | 2,271,000 |
4-Bed | 5,268,000 |
5-Bed | 39,724,000 |
Villas for Sale in Business Bay
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.
Villa Type | Average Sales Price in AED |
3-Bed | 2,978,000 |
4-Bed | 4,636,000 |
RENTAL TRENDS IN BUSINESS BAY
Investors willing to invest in commercial properties can find shops and offices for lease in Business Bay Dubai.
You can Rent an office in Business Bay within a price range of AED 2,000 to AED 25,00000 A retail shop for rent in Business Bay also available.
Apartments for Rent in Business Bay
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.
Apartment Type | Average Rental Price in AED |
Studio | 42,000 |
1-Bed | 60,000 |
2-Bed | 87,000 |
3-Bed | 121,000 |
4-Bed | 190,000 |
5-Bed | 1,442,000 |
6-Bed | 770,000 |
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.
Villa Type | Average Rental Price in AED |
4-Bed | 247,000 |
MOST POPULAR BUILDINGS IN BUSINESS BAY
Executive Towers
DAMAC Towers by Paramount Hotels and Resorts
Merano Tower
Capital Bay Towers
Ontario Tower
