Real estate is probably one of the most fast-rising industries today. Ranging from residential complexes to commercial spaces, many developers saw potential on this industry, especially in countries like UAE. The upswing started when investors projected the need for quality spaces to serve individuals and …
Month: November 2017
Dubai is a known business destination in the Middle East. With its tolerant business policies and strategic location, it provides an ideal and attractive investment climate for local and expatriate businesses alike. Due to its steady growth, the population is projected to reach at 3.3 …
Last April 2017, Business Bay was chosen as one of the “Coolest Neighborhoods” by Lonely Planet, a premier travel site. This Dubai’s latest precinct is voted along side with Lisbon’s The Triangle, Copenhagen’s Vesterbro, lorence’s Borgo San Frediano, Seoul’s Seongsu-dong and London’s Tooting.
Despite the formality vested on its location name, Dubai’s Business Bay is home to several exciting establishments which is the reason why it made its way to the list. Coming back from a tremendous fall due to the 2008 global financial crisis, this Dubai district is slowly making progress and reinventing itself as a forefront leisure destination.
Before the district was hit by the crisis, the government of Dubai had big plans for Business Bay which prompted the construction of high rise buildings and transport roads that will connect it with other areas in Dubai. The location of Business Bay is quite strategic due to its proximity to Downtown core and a stone’s throw away from Dubai Mall.
But when the financial crisis started, everything came to a halt in Business Bay – businesses started to fall and construction were left unfinished. For years, it has become a soulless expanse of office spaces, yielding more vacancy than profit.
But local residents did not abandon the district and instead created their own community that offers casual but welcoming experience to tourists who dare to check the seemingly abandoned area. A few cafes and restaurants were established to cater to locals and foreigners.
Come 2014, things started to look up for Business Bay. It is when investors and governing bodies left behind their old plans and started to re-invent Business Bay to give it a new appeal. Instead of focusing solely on the business side of the zone, the investors took another turn and planned to turn the district into a premier waterfront leisure destination. From what had been planned as a district dominated by businesses and office, it is now becoming a residential and hospitality area. Part of the plan was to turn what was previously built for businesses to apartment blocks. The development is expected to speed up this 2017.
As of current, the major development that has been happening in Business Bay is improvement of roads and transportation means so residents and citizens from other locations will have an easier way of travelling to and fro from the place. In the next few years, locals and other foreign nationalities would see more developments like construction of waterfront promenade which will composed of water houses and other luxury properties for high end visitors who are looking for a splendid space to stay-in, whether for short term stay or a long-term basis.
But the district is not as bare as it sounds. There are still a lot of things to do in Business Bay. Tourists can have an adventurous lunch at Wanderlust Brunch at JW Marriott Marquis where you can have an extraordinary culinary trip or pick up a fresh produce while doing your morning jog and exercises from Bay Avenue.
Business Bay is definitely a Dubai district that everyone is looking forward to see and experience.