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Dubai’s Business Bay continues to shine as a premier real estate destination with a record-breaking Dh362 million canal-front land sale. The prime waterfront plot along the Dubai Water Canal offers exceptional development potential for mixed-use and premium retail projects, reinforcing the area’s status as a hub of investment confidence and urban growth.
Key Highlights:
- Record Sale: Prime corner plot on Dubai Water Canal sold for Dh362 million, marking a new benchmark for Business Bay.
- Prime Location: Direct access to the canal boardwalk, with walking and cycling paths, and strong connectivity via Sheikh Zayed Road and Al Khail Road.
- Future Connectivity: Planned stations on the Zabeel Track, Gold Line, and Express Line within 500 metres to enhance accessibility.
- Market Growth: Business Bay land prices appreciated 16.7% year-on-year, with average rates rising from Dh1,800 to Dh2,100 per sq ft.
- Robust Investor Demand: Limited supply of prime waterfront plots drives high investor interest and market activity.
- Advisory & Brokerage: Transaction handled by Driven | Forbes Global Properties with expert advisory support for Mukarrib Holdings.
- Development Potential: The plot offers excellent flexibility for designing premium mixed-use or commercial projects tailored to international standards.
- Business Bay Appeal: Central location, proximity to Downtown Dubai, and expanding luxury residential and commercial portfolio sustain long-term growth momentum.
- Positive Market Outlook: Analysts anticipate continued appreciation, supported by Dubai’s expanding economy, foreign investment inflows, and strategic infrastructure upgrades.
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