Business Bay Good Investment Or Not

[memo123]

Hello
from your post I see that you know the BB area really well , names of buildings , locations and presumably prices too.
can you please give me an idea of what projects they have in BB , names and estimated prices , I understand you are not an agent nor a broker so that makes you more credible in my opinion and you are not trying to make a quick profit .
If you can help I would be most grateful .
Regards
Memo

Originally Posted by docc

I recently visited business bay (my poor SUV went through hell!) and there were atleast a 100 towers under construction. Most of the plots were boarded up and there was some sort of activity going on most plots. However, the one's that have come really far are Bay gate, Churchill Executive, One Business Bay and Vision tower. There were also a few other that were a few floors high but i don't remember their names.

BBay is a great investment and has a lot of potential. However, there will be a point in time when there will be too many offices in the market. I was told by a reputable source that the annual population growth in dubai is 8% which equates to about 70,000-80,000 people moving to Dubai each other. This clearly tells us as to HOW many office and residential units will be required.

At present, there are only 2 freehold office spaces available ON SZR. First is Escan tower by ACI and the second one is The Onyx by Ishraqah. JLT is freezone and can only be used by people in the metals and commodities business. Tecom is also freezone but can only be used by people in the media and telecom business.

This clearly explains how much of FREEHOLD office space is required in Dubai. BBay is the answer to that and hence a very stable development. BBay plus DBD equates to Manhattan - Wall street and midtown combined together. Prices are bound to hit 3000/Sft in the next 6 months and i believe, most of the new announcements at Cityscape will be in that range.

Good luck to everyone!