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Business Bay

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Business Bay is a true Dubai Manhattan, business and residential quarter in the heart of the city, located just 1.5 km from the world’s highest tower Burj Khalifa, along the newly opened Dubai Canal.

Business Bay is in great steady demand among those wishing to rent an office, and both from potential investors and home buyers. It is actually an almost perfect area for work and for living.

The district invariably tops the ratings as for the cost of housing and for the new office units supply: a big part of all new office buildings is being built here (26% of the total commercial property supply in 2016). Business Bay has an advantage of enough undeveloped land plots for construction allowing the area’s authorities and developers to focus on what exactly is needed for tenants and buyers, which means that the demand for office rents in this area will keep constantly growing. 

The demand for "bespoke" and exclusive office buildings also gives Business Bay another advantage over older city areas, for it is here where the most exclusive architectural projects are currently being implemented.

As for the infrastructure, in addition to the existing developed structure of all kinds of amenities, the area has recently been greatly transformed by the opening of the Dubai Canal. The Marasi Business Bay project allows residents and visitors of the area to sit in a number of cafes by the water overlooking the canal, stroll through the shops along the new boardwalk with a 1250 berth marina.

Marasi Business Bay project worth USD 272 million will be completed in full only by 2023. By that time, the territory covering 2,6 million square feet will include parks, 16 multi-purpose open plazas, children’s play zones, amphitheaters, open cinemas, weekly markets etc. Some of these transformations will become real already by the end of 2017, the date of the expected project’s first phase completion.

Business Bay also continues to build up a profile as the go-to prime commercial destination with a number of major projects by leading Dubai developers underway on different stages. These include the newly complete The Exchange office tower, B2B Tower, Al Manara, Al Khail, Damac Towers by Paramount, and more than 100 other buildings that will bring best quality offices, apartments and luxury apartments to the market in coming years.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management