Dubai has some of the largest construction projects in the world under way, but one of the most popular places for international real estate investors is Business Bay. Business Bay is a freehold construction zone near downtown Dubai that is a mix of business, residential and retail space. The ability for businesspeople to work and live in close proximity, as well as its convenient location, makes it an attractive investment.
Damac Properties, one of Business Bay’s largest developers, has recently announced a new project in Business Bay, Water’s Edge. The regional information source Gulfnews.com (www.gulfnews.com), notes that the 20 story Water’s Edge will feature both office and retail space. “Our presence in Business Bay stems from our belief in the extremely vibrant and dynamic masterplan for the development,” Hussain Sajwani, chairman of Damac Holding, said.
Water’s Edge follows several other recent Damac projects in Business Bay and is the ninth development for the company. A few of their previous Business Bay projects include HAZ Tower, The Corner and XL Tower.
While other real estate markets around the world have hit some sluggish sports, Dubai has continued to be strong. Nicholas Marr, CEO of Homesgofast.com, has been pleased with the market there: “Whilst other regions have had peaks and troughs Dubai remains one of our busiest regions for our investors. In recent months Damac Properties have had a steady flow of investment opportunities. The Dubai property investment market has leaned towards commercial real estate with some outstanding opportunities at Business Bay.”
Dubai continues to be a strong market, and Business Bay is a prime location. For investors looking to get into an area with a mix of residential, business and retail space, this is an ideal location. They can live, work and play easily and conveniently.
Popular Business Bay projects
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