Penthouse in Business Bay
Business Bay is one of the most popular areas with modern developments, where you can find penthouses in Dubai. The business centre of the city, stretching along the Dubai Canal, attracts not only businesspersons: the well-developed infrastructure of the community makes life comfortable for any audience. Although the area is not located by the sea, its spacious residences with views of the canal and high-rise towers quickly find theirbuyers. Foreign citizens consider luxury real estate not only as a place to move, but also as an investment.
Penthouses occupy 1 or 2 last floors in a skyscrapers. Such residences can compete with standalone villas in their area and amenities. The layouts provide a private lifestyle: usually the owners of such apartments have a separate entrance and a personal elevator. This allows you to minimize your contacts with the neighbours, while getting a spacious and prestigious residence, from the windows of which you can enjoy a panoramic view of the Dubai centre.
Internal layouts depend on the specific property. The standard number of bedrooms varies from 4 to 5, but there can be more rooms in such a residence. Each apartment has several balconies, often unique designs with a terrace are on offer. Besides, quite often there are rooms for staff, dressing rooms, and a gym in the residences. No less popular are penthouses with a swimming pool. In terms of its convenience, this format is not inferior to housing on the seashore. The interior design is unique in most cases. A number of apartments are commissioned not only with fully equipped bathrooms and kitchens, but also with furniture and decor.
The relatively young community of Business Bay is one of the free economic zones. Initially, the area was designed as a territory for conducting commercial activities, but the convenient location quickly made it highly popular. Currently, residential, commercial, and mixed-use properties, represented by modern skyscrapers, coexist here.
The community’s benefits:
- Location along the Dubai Canal
- Proximity to Downtown Dubai with the world's tallest tower, Burj Khalifa
- Well-developed infrastructure, offering everything necessary for comfortable living
Foreigners can own and manage penthouses in Business Bay on a private property basis. The purchase of real estate worth more than AED2,000,000 ($544,500) allows you to apply for a 5-year resident visa.
Penthouse prices in Business Bay
The most common properties are penthouses with 4 bedrooms. Their average price is AED8,250,000 ($2,250,000). However, the upper threshold for the cost of penthouses in Business Bay, UAE can be much higher and reach AED125,000,000 ($34,000,000). The median cost of a 5-bedroom residence is AED37,400,000 ($10,180,000). The price depends on the level of the property’s uniqueness and luxury and the prestige of the complex where it is located. It should be taken into account that real estate prices in Dubai are steadily growing, so it is better not to delay the decision to purchase the property you are interested in.
Investing in a penthouse in Business Bay would be a profitable step. The exclusivity of the property ensures high liquidity. You can buy apartments and resell them later, earning on the capitalization of the cost. It is even more profitable to buy an off-plan penthouse apartment in Business Bay at the construction stage, when housing prices are lower than in already commissioned residential complexes. While the development of the territory still allows you to do this. As the construction of the community is completed, only ready-made and more expensive penthouses will remain there on offer.
No less profitable is a long-term strategy that allows you to receive a stable income from renting out premium-class residences. Average rent at the time of publication for 4-bedroom residences ranges from AED369,000 to AED1,620,000 ($100,500 to $441,000) per year. It should be borne in mind that the rent is growing along with the sales prices, so in the future, income will only increase.
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On the website you can find offers from the developers. All information is actual and contains the final price. Intuitively simple search system allows you to get a first impression of real estate in real time. Please feel free to leave a request, and our managers will assist you with choosing an exclusive accommodation in the centre of Dubai or with a sea view. To get advice, just contact the experts in any way convenient for you.
