Top Selling Projects for Business Bay
Dubai's Business Bay is currently home to some of the most valuable real estate projects in the city. Here are the top selling projects by value in this prestigious location:
1. Select Peninsula Apartment - With a current rate of AED 2,321 and a sale value of AED 3,795M, this luxurious residential project is a top choice for those seeking a high-end living experience.
2. Aykon City Tower - Offering stunning views of the Dubai skyline, Aykon City Tower has a current rate of AED 2,254 and a sale value of AED 1,853M. Its prime location and luxurious amenities make it a highly desirable project.
3. Seascape - With a current rate of AED 1,791 and a sale value of AED 638M, Seascape is a modern and stylish residential project that offers a serene waterfront living experience.
4. Chic Tower - This contemporary residential tower has a current rate of AED 2,117 and a sale value of AED 498M. Its sleek design and prime location make it a popular choice among buyers.
5. Binghatti Canal - With a current rate of AED 1,604 and a sale value of AED 346M, Binghatti Canal offers affordable luxury in a prime location.
6. The Paragon - This exclusive residential project has a current rate of AED 1,713 and a sale value of AED 286M. Its spacious apartments and luxurious amenities make it a highly sought-after project.
7. Marquise Square Tower - With a current rate of AED 1,848 and a sale value of AED 181M, Marquise Square Tower offers luxurious living spaces in a prime location.
8. Al Habtoor City - This iconic project has a current rate of AED 1,500 and a sale value of AED 174M. Its world-class amenities and prime location make it a top choice for buyers.
9. Waves Tower - With a current rate of AED 1,638 and a sale value of AED 162M, Waves Tower offers modern and stylish living spaces in a prime location.
10. Omniyat The Sterling - This luxurious residential project has a current rate of AED 1,910 and a sale value of AED 142M. Its high-end amenities and prime location make it a top choice for those seeking a luxurious living experience in Business Bay.
Summary For Business Bay
Location Summary Report:
Business Bay is a premier commercial and residential locality in Dubai. It is strategically located near the Dubai Creek and Sheikh Zayed Road, providing easy access to major business hubs and leisure destinations in the city.
Rental Rate:
The current rental rate in Business Bay is AED 113 per square foot. This is a highly competitive rate compared to other commercial areas in Dubai, making it an attractive option for businesses looking for affordable office spaces.
Sales Transactions:
In the past year, there were a total of 9,066 sales transactions in Business Bay, indicating a strong demand for properties in this area. This trend is expected to continue as more businesses and investors recognize the potential of this high-growth location.
Gross Sales Value:
The total gross sales value of properties in Business Bay was AED 11 billion in the last year. This reflects the high value placed on properties in this area, making it a lucrative investment option for those looking to invest in real estate.
Current Rate/Sq.ft:
The current rate per square foot in Business Bay is AED 2,006. This indicates the high value placed on properties in this area, making it a prime location for commercial and residential properties.
Overall, Business Bay is a highly attractive location for businesses and investors looking for a strategic location with high growth potential. With its competitive rental rates, strong demand for properties, and high gross sales value, it offers a lucrative investment opportunity in Dubai's real estate market.
Price Trend For Business Bay
Business Bay: Location Sales Trend
Business Bay is a thriving neighborhood located in the heart of Dubai, known for its upscale lifestyle, modern infrastructure, and luxurious amenities. In recent years, the location has witnessed a surge in real estate sales, with the average rate per square foot increasing steadily.
According to the latest data, the average rate per square foot in Business Bay is expected to rise in the coming quarters. In Q1'22, the average rate per square foot was 1657, which is expected to increase to 2076 in Q1'23. This represents a significant increase of 25%, indicating that Business Bay is one of the most lucrative locations for real estate investment in Dubai.
In terms of the number of transactions, Business Bay has witnessed a fluctuating trend in the recent quarters. In Q1'22, the number of transactions was 1340, which decreased to 937 in Q2'22. However, the number of transactions is expected to pick up again in the coming quarters, with 1884 transactions expected in Q3'22. The number of transactions is expected to remain steady in Q4'22 and Q1'23 with 1782 and 1793 transactions, respectively.
Overall, Business Bay is a location that promises high returns on real estate investment, with steady growth in average rates per square foot. The number of transactions may fluctuate, but the location remains a popular choice for buyers and investors alike.
