Being just a stone’s throw away from Downtown Dubai, Business Bay is a place where all the action happens! As a part of the vision of His Highness Sheikh Mohammed, statistics from the Dubai Land Department detail that it remains as the Number 2 top investment destination after the Dubai Marina.
Location and Connectivity
As any prime location, it has to be ideally located and connected. Business Bay area is strategically positioned between two main highways, Sheikh Zayed and Al Khail. A recently completed flyover on Al Khail Road improved access in and out of the community.
Growth and Investment
Business Bay started its journey back in 2005, and it’s still continuing to grow. With its amazing transport connectivity and proximity to such a prime location as Downtown, it keeps attracting investors with a lower price point and diversity of commercial and residential projects.
If you’re a potential tenant, this central business district in Dubai is more affordable than Dubai Marina. And if you’re a potential investor, the average ROI in the area is around 5.7%, and it’s still performing much better, even within Dubai, especially if you compare it to similar major markets around the world.
Mixed-Use Projects
Most of the projects in Business Bay are mixed-use, combining offices, retail, and residential units. Investors can benefit from having a pool of potential tenants from people working in the same or neighbouring buildings. It is also an ideal destination for short-term rentals because of its metro connectivity, proximity to Downtown, Dubai Mall, and Dubai Canal. So your residential units will be a great alternative to a five-star hotel for business travellers or tourists.
One of the most famous attractions in Business Bay is the Opus building. It is the last building completed by Zaha Hadid and the only project in the world where Zaha Hadid was not only involved in designing the exterior of the building but also the interior. The Opus is a multi-use building. One side on the right is the ME Hotel, while the left side consists of apartments and offices. On the ground floor level, there are some of the finest restaurants, bars, and cafes in the city. There’s Roka, a Japanese restaurant; Basco, a Spanish bar; and The Maine, an American fine dining restaurant.
Historical Significance
Markets have always played a significant role in Dubai’s history. Business Bay, being situated on the historical banks of Dubai Creek, shifted from a pearl-diving village into an international port. The Dubai Canal turned the city from an international hub into a luxury waterfront community. Now, you’ll find plenty of cafes, restaurants, and even waterfront views along the Dubai Canal, so it’s a great place to hang out after work too.
Affordable Prime Location
The current market situation means yesterday’s tenants have become landlords. Investors can benefit from the situation as well, being able to buy property in a prime location at a lower entry ticket. The primary market also offers great options with incredible payment plans. So remember, the best time to buy is now, and your property will increase in value over time because land is a limited resource.
Lifestyle and Nightlife
From offices to high-rise towers and the swankiest apartments that the City has to offer, Business Bay is a location for those who seek to live life to the fullest by blending business and luxury. If you ever visit, it’s a mix of serious corporate vibes during the day, but it turns into a lively scene with people unwinding as the sunsets.
Offering a vibrant nightlife, it’s home to many five-star luxury hotels, including the world’s tallest hotel, JW Marriott Marquis, and Escape Tower Business Bay, one of the iconic towers in the area.
Residential Community
The people who live in Business Bay are usually a mix of young professionals, expats, and families who want to be close to work but also have access to luxury living. Most of the apartments are modern high-rises with amazing views of the city or the canal. You can even spot the Burj Khalifa from some of them!
It goes without saying that the community you associate it with will certainly take you further in life. Surrounding yourself with people who are on the same wavelength as you is something that will happen effortlessly at Business Bay.
Business Opportunities
If you are an entrepreneur or a titan in the corporate space, you will find that Business Bay area is full of opportunities. Many multinational companies from around the world call this space home. Some of the industries that have placed their mark on Business Bay include finance, real estate, tech, and even marketing. IT companies in Business Bay are especially prominent, making it an attractive destination for tech entrepreneurs. Hot Desking and coworking spaces have also become rather popular here, creating an opportunity for young entrepreneurs to set themselves within Business Bay.
For those looking for a physical location for a new business, it doesn’t get better than Business Bay. With Downtown Dubai being so close by, you’ll have easy access to the entirety of the city. This would make networking with your clients, competition and other like-minded individuals rather effortless.
In Conclusion,
Business Bay is a perfect blend of business and leisure, with a fast-paced vibe during the day and a more relaxed, social atmosphere at night. If you are looking to invest in a property here, or if you think Business Bay would be the ideal place for you to call home, reach out to us at SetHub. Our property experts have a clear picture of the hottest properties to invest in within Business Bay.
A quick consultation with us will give you a better idea on how to proceed if you are feeling lost. Schedule a call now and you will hear back from us within just one business hour! SetHub is more than just a business setup consultant, we stick with our clients for the long run and are always on hand to help you out with any questions you may have about life in Dubai.
