Business Bay is a trendy mixed-use district in Dubai. Set alongside the gleaming waters of the Dubai Canal, it neighbours the city’s most happening centre, Downtown Dubai.

Business Bay Dubai spans 46.9 million sq. ft., of which 22.1% is allocated for residential projects, 18.5 % for commercial use and 59.4% is dedicated to mixed operations. This recognised destination is home to leading international and local businesses, architectural masterpieces, renowned hospitality groups, public transport links and many top-notch amenities.

According to Bayut’s Annual Dubai Rental Report 2023, Business Bay is one of the top areas for renting luxury apartments. You can also browse the rental transaction analysis for properties in Business Bay, as recorded by DLD over the past 12 months.

IN A NUTSHELL

• A leading business hub in Dubai
• Features residential and commercial skyscrapers
• Located on the banks of the Dubai Canal
• Close to Burj Khalifa, The Dubai Fountain and the Dubai Aquarium
• Investor-favourite due to upcoming developments and projects
• Home to the former tallest hotel in the world, JW Marriott Marquis
• Popular lifestyle destination because of several restaurants, cafes and hotels

home

Neighbourhood

COMMUNITY OVERVIEW

True to its name, the area is home to commercial buildings featuring high-profile offices, banks and shops. Business Bay’s fast-paced vibes attract a huge population of young professionals. Plus, proximity to Downtown Dubai, Sheikh Zayed Road and DIFC greatly adds to its appeal. Some of the region’s leading hotel chains, including Taj, Anantara and Marriott, are present in the neighbourhood.

Business Bay lies along the waters of Dubai Creek

The lifestyle at Dubai Properties Business Bay caters largely to young couples and singles, but many families also invest in apartments. With a selection of beautiful apartments, penthouses, hotel apartments and hotels, Business Bay Dubai has grown into a coveted address, eliciting an equal amount of interest from renters, buyers and tourists. The area is also close to Dubai Design District and one of the city’s oldest hotspots, Jumeirah.

Properties in Business Bay Dubai

Business Bay area enjoys a prime location in the city, featuring apartments and penthouses. Many Business Bay buildings make up Dubai’s iconic skyline. Apartments in Business Bay are available as studios, 1, 2 and 3-bedroom apartments and 4-bedroom luxury apartments and penthouses.

High-rise apartment towers in Business Bay, Executive Towers

4-bedroom penthouses in Business Bay span 6,600 sq. ft. to 7,341 sq. ft. You can also find duplexes with four spacious bedrooms, a maid’s room, five to six bathrooms, floor-to-ceiling windows, open and fully fitted kitchen, a comfortable living and dining space, a storage room, a study room and parking spaces. These penthouses have a huge terrace with a private pool.

Dubai Properties Business Bay is also home to several hotel apartments in the studio to 3-bedroom layouts. These units comprise bedrooms with bathrooms, a spacious living area, a well-equipped kitchen, a separate sitting area, floor-to-ceiling windows and a large/balcony terrace

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.

Commercial buildings in Business Bay Dubai

Popular commercial buildings in Business Bay include The Binary, Clover Bay Tower, The Prism, Tamani Arts Offices, The Citadel, Bayswater Tower, Iris Bay, The Exchange Business Bay and Metropolis Tower.

The Binary by Omniyat features five connected podium levels and 21-storey and 24-storey buildings above ground. The project also has three basements, a ground floor and 15 retail units on the ground floor.

Bayswater by Omniyat has 293 offices. The Citadel by Deyaar is a 48-storey commercial tower offering 406 offices.

UPCOMING PROJECTS IN BUSINESS BAY

Off-Plan Development	Apartment Types Offered	Estimated Handover
Safa Two by DAMAC	Studio, 1, 2 and 3-bedroom apartments	2026
Chic Tower by DAMAC	Studio, 1 and 2-bedroom apartments	Q2, 2026
Peninsula One by Select Group	Studio, 1, 2 and 3-bedroom apartments	Q4, 2024
Peninsula Two by Select Group	Studio, 1 and 2-bedroom apartments	Q4, 2024
Peninsula Three by Select Group	Studio, 1 and 2-bedroom apartments	Q4, 2024
Peninsula Four The Plaza by Select Group	Studio, 1, 2, 3 and 4-bedroom apartments, duplexes and penthouses	2026
Regalia by Deyaar	Studios, 1, 2 and 3-bedroom apartments, duplexes and penthouses	2024
Jumeirah Living Business Bay	2, 3 and 4-bedroom apartments and 4 and 5-bedroom penthouses	Q4, 2025

Popular off-plan developments to invest in Business Bay include Peninsula by Select Group, Safa Two by DAMAC Properties, Chic Tower by DAMAC, Regalia by Deyaar, The Paragon by IGO and Jumeirah Living Business Bay.

RENTAL TRENDS IN BUSINESS BAY

Popular buildings to rent apartments in Business Bay have a variety of amenities for tenants, such as well-equipped gyms, swimming pools, children’s play areas, covered parking and retail areas.

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Yes, this can be a favorable opportunity for those seeking potentially lucrative returns and a luxurious lifestyle. The city’s booming economy, investor-friendly environment, and the availability of freehold areas contribute to its appeal. Additionally, Dubai’s iconic architecture and innovative projects attract global and industry attention, making it a destination for high-end buyers and tenants.

What Is the Main Disadvantage of Investing in Real Estate?

While Dubai property investments can offer numerous benefits, it is important to consider the main disadvantage: illiquidity. Real estate is an illiquid asset, meaning it can only be easily bought or sold quickly with incurring significant transaction costs and time delays. Unlike stocks or bonds that can be traded on an exchange, the process of buying or selling real estate involves extensive paperwork, legal procedures, and finding suitable buyers or sellers. It’s essential for investors to carefully plan and assess their liquidity needs before investing in rental properties.

Why Invest in Dubai 2024?

Investing in Dubai in 2024 offers a promising opportunity in a thriving economy with diverse real estate projects. With a strategic location, sustainable development focus, and the upcoming World Expo, Dubai presents an attractive investment destination for growth and diversification for the future here.

Is Buying a Villa in Dubai a Good Investment?

Buying a villa in Dubai can be a profitable investment due to the city’s stable real estate market, high rental income and demand, and investor-friendly policies. Considering these factors, purchasing a villa in Dubai can offer long-term financial benefits and a luxurious lifestyle.

1. What Is the Law Behind Buying a Property in Dubai?

Law No. 7 of 2006 is the main reference and regulation regarding owning property in Dubai. The law entitles UAE and GCC residents to buy property anywhere in Dubai.  As for the foreigners, they can buy their property in areas designated as freehold or leasehold. 

2. What Is the Difference Between Freehold and Leasehold Ownership?

The difference between them is that freehold ownership gives you full ownership of the property without restriction, while leasehold allows you to own the property for a set period of time, which is up to 99 years.

3. What Are the Requirements to Buy a Property in Dubai?

If you’re buying property in Dubai for the first time, you’ll need a few key documents. These include

• Passport
• Visa 
• proof of income 
• recent bank statements 
• No Objection Certificate (NOC) from the developer
• Details about the property 
• Purchase agreement 
• Payment information 
• The seller’s identity proof. 

4. What Are the Steps You Should Follow to Buy a Property in Dubai?

The procedure to buy property in Dubai is the same either for owning a home or having a profitable real estate investment in Dubai. To know more about them in detail, check the below steps:

Step 1: Prepare the Buyer/Seller Contract

When you’ve zeroed in on the ideal property, initiate a conversation with the seller to discuss terms. You have the flexibility to pay upfront in cash or consider a mortgage. While this phase doesn’t mandate the involvement of a real estate agent or lawyer, it’s crucial to draft a contract that is precise.

Ensure it clearly outlines the pricing, payment methods, and all pertinent terms to avoid any future misunderstandings.

Step 2: Sign the Real Estate Sale Agreement

You can easily download the sale contract (Form F), which is also known as a Memorandum of Understanding (MOU), from the official website of the Dubai Land Department (DLD). 

Beside, tou’re free to include your own terms in the contract. Once it’s all set, both you and the seller should sign it in front of a witness, ideally at the Registration Trustee’s office.

Moreover, you should pay an amount of 10% as a security deposit on the property to the Registration Trustee, you receive them once the whole transaction is completed.

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Step 3: Apply for No Objection Certificate

At this point, you’ll have a quick chat with the developer to get a No Objection Certificate (NOC) and finalize the ownership transfer. If there are no outstanding service bills or charges on the property, the developer will issue the certificate.

Step 4: Transferring Ownership at the Registrar’s Office

You should prepare the needed documents, attend in person, or send your authorized representative. Wrapping up the transfer takes just a few steps.

1. Submit the required documents. 

• A payable cheque for the property price 
• Original identification documents of both seller and buyer (Emirates ID & passport) 
• The original NOC 
• The signed contract of F Form 

2. Get verification of the data
3. Pay the fees and receive a receipt for payment
4. Receive the output through email.

The transfer will be processed on the same day if the parties submit their documents early. Besides, after receiving the approval email, a new title deed will be issued in your name as the new owner. 

How to Invest in Real Estate in Dubai

5. What Are the Admin Costs of Buying a Property in Dubai?

The admin fees are a great detail to consider while buying a new home in the Emirates. Find below the fee in detail:

• Issuing the Title of Deed: AED 580
• Admin fees to DLD: AED 4,200
• Fees for the DLD are 4% of the property value.

6. Can You Buy Property in Dubai Without an Agent?

Yes, you can. In Dubai, there are different communities where you can get a property directly from the developer or individuals who are selling their units.

7. What Is a Trustee office in Dubai?

Trustee Centres or Trustee Offices in Dubai are offices that are authorised by the Dubai Land Department to act as an intermediary between the DLD and clients. 

These offices offer a range of services, including:

1. Overseeing property registration
2. Managing mortgage
3. Facilitating transactions. 

Specifically, they are responsible for verifying property documents, ensuring compliance with DLD regulations, and collecting transfer fees required by the Dubai Land Department. 

Additionally, they liaise between all involved parties, ensuring a smooth and legally compliant process for property sales, purchases, and leases. 

Trustee Offices in Dubai are instrumental in maintaining the integrity and efficiency of the real estate market, making them essential for both local and international investors and property owners.

8. What Is a Title Deed in Dubai?

In Dubai, a title deed is an official and legally binding document issued by the Dubai Land Department (DLD) that certifies the ownership of a property. 

Moreover, this document outlines the owner’s legal rights, like the right to use, mortgage, sell or lease the property. 

Any title deed should include the following details: 

• Owner name
• Property location
• Size
• Property type. 

If you paid for your property in full, then the title deed should be exclusively in your name. As an owner, you should note that this document is critical in any real estate transaction or dispute.

9. How Much Salary Is Required to Buy a House in Dubai? 

The salary you need to buy a house in Dubai depends on the property’s location and type. Generally, banks prefer that you earn at least AED 15,000 a month, but some might consider you even if you’re earning less, sometimes under AED 10,000. 

10. How Much Deposit Do I Need to Buy a House in Dubai? 

If you’re a UAE national, you’ll typically need to put down at least 20% of the property’s value. For expats, the minimum deposit is usually around 25%. 

11. How Long Does it Take to Buy a Property in Dubai? 

The process of buying a property in Dubai can take from 2 to 10 weeks. It might take longer if the property is already mortgaged or being purchased with a mortgage.

12. What Is the Best Way to Buy a Property in Dubai?

Buying property in Dubai can be straightforward if you follow a few key steps:

• Check your affordability: Start by figuring out how much you can realistically afford.
• Start saving: Begin setting aside money for your down payment and other expenses.
• Know your ideal property: Decide on the type of property you want and where you want to live.
• Get an Approval in Principle: Secure a preliminary mortgage approval to know your budget.
• Make an offer: Once you find the right property, put in an offer.
• Apply for your mortgage: Finalize your mortgage application to secure financing.
• The legal work: Complete the necessary legal procedures to finalise your purchase.

13. How Much Money Do I Need to Buy a House in Dubai?

The amount of money you need to buy a house in Dubai varies by location and your needs so there is no such minimum or maximum amount to own a home. However, it’s advised that if you are buying in instalments, they should be a maximum of 30% of your income so you can afford to live while paying the property payments.

Things to Consider While Buying a Property in Dubai

Some prominent freehold districts where foreigners can buy property in Dubai are Arabian Ranches, Palm Jumeirah, Dubai Marina, and Downtown Dubai.

It’s recommended to only deal with real estate agents who are registered with RERA.

Documents written in a Foreign language must be attested and submitted with certified translations into Arabic.

The transactions must be registered within 60 days from the date of signing the contract by both parties.