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Buyers' Guide

Best Off-Plan Investments in Business Bay

30 June 2024 Written by Arpan

Investment Yield over Last 12 Months - 5.77%

Business Bay, one of Dubai's premier waterfront districts, was the leading choice for investors in the first half of 2024, with transactions totaling AED 4.2 billion. Centrally located, it is just a short distance from commercial hubs like Downtown Dubai and DIFC, and is easily accessible via Sheikh Zayed Road and Al Khail Road. Originally envisioned as Dubai’s business hub and the Middle East's business capital, Business Bay has recently become a highly sought-after residential area and a prime spot for offplan investments in Business Bay.
offplan investments in business bay

The penthouses are designed for contemporary urban living, offering unique aesthetics and lifestyle experiences. Prices across the district have been fairly steady at an average of AED 1,466 per square foot, with some of the newer projects going over AED 1,800 per square foot, making it an excellent choice for investors. Gross yields have stayed upward of 5.5% over the past 12 months, inching closer to 6% in the last quarter. As further development around the Dubai Canal starts to hit completion, it will become an even more attractive prospect for future home buyers.

 

The location really is one of the major factors that works in Business Bay’s favor. Sitting adjacent to Downtown Dubai, it is in close proximity to world-famous attractions such as The Dubai Mall, The Dubai Opera and the magnificent Burj Khalifa. In fact, many of the office buildings and residential towers in the area have an unobstructed view of the world’s tallest building. A drive of less than 20 minutes will take you into the fashionable Jumeirah district, which used to be the trendiest part of the city at one time and is still hugely popular, in no small part because of its beautiful beaches. That’s not to say that Business Bay doesn’t have any attractions of its own. If you’re looking for an area with a vibrant nightlife then this is the place to be, boasting several five-star hotels including The Taj, The Oberoi, The St. Regis and JW Marriott, which is the world’s tallest hotel.

 
Best Off-Plan Investments in Business BayBest Off-Plan Investments in Business Bay

The Canal is flanked by several premium apartment towers that are being developed by reputed names such as Omniyat and Dubai Properties. A beautiful boardwalk runs along the banks of the Canal, where new retail and dining experiences being developed. It is home to the first floating homes in Dubai, partially submerged villas that offer you a water view like no other in the city. The Opus, the appropriately named final project by the late Dame Zaha Hadid (and her first in Dubai) is situated directly between the Canal and the Burj Khalifa. And famous Saudi developer Dar Al Arkan has chosen to make its Dubai debut in this district as well, with the waterfront residential tower called I Love Florence, which will feature interiors by Roberto Cavalli.

 

Some of these fantastic off-plan investments in Business Bay are highlighted below, and head over to our Business Bay location page to discover more.

 

About the Author

Arpan

Jason Hayes is the founder of LuxuryProperty.com and is a leading authority on luxury real estate both globally and in Dubai. Taking the Management lead on the Private Client Office, he is internationally recognised for his expertise in high-end property markets.

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