Business Bay: the canal, towers by Burj Khalifa and branded residences
How a business district by the creek became a corridor of skyscrapers by the canal. Burj Binghatti Jacob & Co, Bugatti Residences, Safa Two, DWTN, the eight key new developments, entry prices and what you will not see on a viewing.
Business Bay is Dubai's business district along the canal, just beyond Burj Khalifa. Some of the city's most talked-about towers are being built here: Burj Binghatti Jacob & Co is planned as the world's tallest residential tower; nearby are Bugatti Residences, where a lift takes your car to the apartment, and a building with a dining room suspended in a bridge between its towers. Our catalogue contains 166 developments in the area, 53 of them due for handover in 2026 or later, by 27 developers. We look at how a vacant stretch of land by the creek became a skyscraper district, how its eight key new developments differ, what it costs to get in and what you will not see on a viewing.
What is happening in the area
Business Bay has long been established: the area's first buildings were handed over in 2010. But the main activity is happening now. Binghatti, Damac, Omniyat, Deyaar and Select Group are developing properties unlike those previously seen in Dubai: with a jeweller's or car brand on the façade, a beach and pool inside the tower, or full-floor residences. Entry prices still start at AED 1 million.
For a buyer, this means two things. First, the address is already established. Burj Khalifa, Dubai Mall, the metro and offices are close by, and you can see that in person, not only in a rendering. Second, the choice is extensive, and the buildings differ greatly. An AED 1 million studio and an AED 40 million residence may be on the same waterfront, so you cannot compare them by the name “Business Bay” alone.
If you are buying in the UAE for the first time, start with “How to buy property in the UAE”: it explains the Dubai transaction from reservation to handover.
How a vacant stretch of land by the creek became a skyscraper district
In the mid-2000s, Dubai Properties, part of Dubai Holding, conceived a “city within a city”. The plan was to extend Dubai Creek inland from Ras Al Khor lagoon to Sheikh Zayed Road and create a business centre along the banks of the new channel. It was compared with Manhattan in New York and Ginza in Tokyo. The plan called for 240 towers for 200,000 residents, at a total estimated value of AED 110 billion.
The creek was dug in just a few years
By autumn 2007, 10 km of new channel had been added to the creek's 14 km natural course. It averages 100 m wide, reaches 500 m at its widest point and is about 6 m deep: yachts up to 60 m long can enter it. Some 11 million m³ of soil was excavated, at a cost of AED 484 million. As early as 2008, the next step was planned: extend the creek to the sea, bringing its length to about 26 km and turning Bur Dubai into an island.
The crisis: towers left unfinished
Then came the 2008-2009 crisis. The Pad, designed by Zaha Hadid, rose a few floors before work stopped. Iris Bay reached its top level, but construction stopped in 2011, and the tower was still unfinished in 2012. The area's most high-profile project, the 108-storey Burj Al Alam, was launched in November 2006, halted at the piling stage in 2009 and cancelled by the end of 2013. The lesson for buyers is simple: even a high-profile project can stop. That is why it matters which escrow account receives the money and what is visible on site today.
The Metro and the first residents
Business Bay Metro station on the Red Line opened on 15 October 2010. It stands above Sheikh Zayed Road, making the area's offices and homes accessible without a car. Towers that had survived the crisis were completed and occupied, and by 2011 a dense wall of glass already lined the creek.
The canal to the sea
The sea connection came eight years later. Dubai Water Canal was unveiled in October 2013 and opened on 9 November 2016. The 3.2 km canal runs from Business Bay beneath Sheikh Zayed Road, through Safa Park and Jumeirah, to the sea. The highway was raised 8 m for it, with eight lanes in each direction crossing the bridge. Three pedestrian bridges span the canal, and the project cost AED 3.7 billion. Since then, the creek has had a second outlet to the sea.
The canal's most iconic sight is the waterfall from the Sheikh Zayed Road bridge. In 2024, Dubai's transport authority completely rebuilt it: sensors automatically stop the water when a boat passes beneath the bridge.
Marasi waterfront and boats instead of cars
In May 2016, Dubai Holding announced Marasi Business Bay, an AED 1 billion-plus waterfront: 12 km of promenade, five marinas with 1,250 berths, more than 100 shops and 250,000 m² of open space. Construction began in June 2017. Vela Viento, discussed below, now stands on this waterfront. Transport authority boats run along the creek and canal: the DC2 route connects Marasi, Business Bay and the stop by Sheikh Zayed Road, with fares of AED 2 per stop.
A cube-shaped tower and the race for height
ME Dubai opened in The Opus on 1 March 2020. Zaha Hadid designed the building: two towers are joined into a single cube, with a 38 m-wide bridge between them at a height of 71 m. It is the only hotel for which her practice designed both the building and the interiors. The Pad, her other project in the same area, stalled in the crisis, while The Opus was completed.
The area is now setting records. Burj Binghatti Jacob & Co was announced in late 2022 and is 557 m tall. The current record-holder for a residential tower is Central Park Tower in New York, at 472.4 m. Nearby, Deyaar is building the 445 m DWTN Residences. The waterfront excavated only in 2007 has become a place where a residential tower higher than the current world record is under construction.
Burj Binghatti Jacob & Co: a jeweller's crown
Burj Binghatti Jacob & Co Residences Binghatti is developing it with Jacob & Co, a watch and jewellery house. The developer plans it as the world's tallest residential tower, at 557 m. It has 341 apartments, entry prices from AED 8,400,000 and handover in Q2 2027.
The building's design language comes entirely from the jeweller. Its crown repeats the cut of Jacob & Co gemstones, with a lattice made from high-strength alloys and composites. The lobby follows a watch-mechanism theme. The largest residence, Billionaire Sky Mansion, spans two levels: 1,931 m² of living space and a 156 m² terrace, about 2,087 m² in total.
The key point about the payments: when you reserve, you pay 10% plus the 4% Dubai Land Department fee, another 20% two months later, and the remaining 70% at handover. You pay less than a third of the price before completion, but the money must be ready when you receive the keys.
Bugatti Residences: your car takes the lift to your apartment
Bugatti Residences Binghatti is also developing it under licence from the car brand. The tower has 182 residences: 171 in the Riviera Mansion collection and 11 Sky Mansion penthouses at the top. That is a low number for a 46-storey building, so there are few neighbours. Entry prices start at AED 19,400,000, with handover in Q4 2026.
Three things the neighbouring buildings do not offer. Every residence has a pool on its terrace. There is a French Riviera-inspired beach inside the building. And your car takes a lift straight to the apartment's private garage. The residences are sold freehold, and payments go into escrow at Sharjah Islamic Bank.
Safa Two: a misty forest on the roof
Safa Two Damac is developing it with jeweller de Grisogono by Safa Park, with quick access to Sheikh Zayed Road. It consists of two towers: the 72-storey Tower A with 479 apartments is sold out, while sales are under way in the 84-storey Tower B with 815 apartments. Entry prices start at AED 3,263,000, with handover in Q4 2027.
The roof has a misty forest, with a restaurant and café among the trees. The “Ruby Heart” on the 60th floor has a pool with an open edge, and an observatory sits at the top.
Safa Two has the lowest price per square metre among the area's major new towers: AED 20,886 per m², compared with about AED 28,000 across new developments. Few apartments remain in the second tower, most of them two-bedroom units.
DWTN Residences: 445 metres and six clubs
DWTN Residences Deyaar is developing it. The tower rises to 445 m and contains 604 apartments. A deep vertical slot cuts through its façade, so the tower reads as several parts rather than a single shaft. Entry prices start at AED 2,271,477, with handover in Q4 2030. Business Bay Metro is three minutes away.
The main feature is six club levels for residents. Above the lobby is the children's House of Heirs, with a pool, playrooms and a lawn for celebrations. Levels 27-29 house the House of Wellness spa and fitness facilities. Maison Amis is on levels 53-55, and Cloud Nine is on level 91. Alongside standard apartments, the tower has 76 duplexes, 13 penthouses and one Royal Palace residence.
Payments are split evenly: half during construction and half at handover. There is one significant drawback: completion is four years away, so you will not be able to live in the tower or rent out an apartment until then.
Peninsula Four: waterfront lofts
Peninsula Four Select Group is developing it by the canal. The project has two tall towers and 16 two-storey lofts known as The Lofts directly by the water. Apartments range from 46 m² studios to 489 m² penthouses; the building has 51 storeys and 1,040 apartments. Entry prices start at AED 2,050,000.
The property has one unusual payment condition: the full amount is paid upfront, with no instalments during construction. Money is held in escrow at Emirates NBD. Handover was scheduled for Q2 2026, and that date has passed. Before buying, ask the developer whether the property is complete and when keys will be issued.
Canal Heights and Chic Tower: pearls and turquoise
Canal Heights Damac is developing it with de Grisogono. The 41-storey tower is a continuation of the neighbouring Chic Tower. It has studios and one- and two-bedroom apartments from 40 to 145 m², entry prices from AED 1,100,000 and handover in Q4 2026.
The building's standout feature is an underwater pearl museum, which you explore with a mask and snorkel. Beside it is a shell-shaped pool where you can search for a real pearl. When you reserve, you pay 20% plus the DLD fee; by completion, half the price is due, with the other half payable when you receive the keys.
Chic Tower Next door, Chic Tower is devoted to turquoise. A 180 m lazy river winds through the podium, with seven hot and cold plunge pools. The tower is almost sold out: seven of 490 apartments remain, six of them one-bedroom units. Entry prices start at AED 1,200,000.
Binghatti Skyrise: three towers and a beach
Binghatti SkyriseBinghatti Skyrise is the most affordable of the area's major new developments. Three towers with 48 residential floors each stand on a 26,933 m² plot. They contain 3,302 apartments, including 2,256 studios. Entry prices start at AED 1,030,000, with handover in Q4 2027.
The developer has put together a resort-style setting in the building: a pool deck, artificial beach and private golf course within the complex. Payments are 70/30: 70% in instalments before completion and 30% at handover. The drawback is that there are more than 3,000 apartments, so this is not an intimate building. There are only around 50 two- and three-bedroom apartments across the whole development, leaving families with little choice.
Vela Viento: a dining room inside the bridge
Vela Viento Omniyat is developing it on the water at Marasi Bay. Foster + Partners designed the towers, Paris studio Gilles & Boissier created the interiors, and apartments are handed over fully furnished. Dorchester Collection manages the property. The towers contain 92 residences, the smallest of which has two bedrooms and starts at 265 m². Entry prices start at AED 17,500,000, with handover in Q3 2027.
One detail found nowhere else in the area: a bridge joins the two towers, and the dining room in three residences sits directly inside it. The entire 21st floor, at a height of about 100 m, is for residents. The payment plan is 60/40: 60% during construction and 40% at handover. Hotel-style services carry a separate charge per square foot, which is worth factoring in before reserving.
More new developments in the area
Twelve more new developments in the area from our catalogue. Prices and handover dates are updated on each project's page; find other developments in the UAE catalogue.
The price of entry
You can buy an apartment in a new development for under AED 1 million, while a waterfront residence can cost more than AED 40 million. The median entry price for new developments is about AED 2.8 million. For a comparison with other parts of the city, see our guide "How much does it cost to get into Dubai?".
A 'from' price always refers to the smallest apartment in a development. At Skyrise, it is a studio. At Vela Viento, it is a 265 m² two-bedroom residence. Price per square metre is a fairer comparison. It shows that Safa Two is markedly below the median, while a square metre at Bugatti costs twice as much.
On top of the price, a buyer pays a 4% Dubai Land Department fee on registration, then an annual service charge after handover. At these developments, it is AED 215 per m² per year at Skyrise, AED 323 at Burj Binghatti and AED 484 at Vela Viento. We explain how it works in our article on apartment running costs. We also explain how to read a payment plan in our article on developer instalment plans.
Selling before handover: an example from our practice
We have not yet handled a transaction in Business Bay itself, so here is an example from a nearby part of Dubai. In December 2023, our client bought a 40 m² studio in an under-construction development with an infinity pool, 15 minutes from Burj Khalifa. The post does not name the area. The client paid the full price during construction and sold the apartment before handover to a buyer from our database: a 14% return on invested funds over 16 months.
The structure is the same as at most developments in the area: pay as construction progresses and exit before handover. It works in a rising market. If the market stalls, selling before handover will be difficult and you will have to pay the remaining balance at handover. Decide in advance how you would cover that payment.
What you don’t see at a viewing
Who it suits and who it doesn't
| What matters to you | Which development | Why |
|---|---|---|
| Smaller budget | Binghatti Skyrise, Canal Heights | From AED 1.03 to 1.1 million, many studios |
| Low price per square metre in a large tower | Safa Two | AED 20,886 per m², a forest and pool high above ground |
| A landmark development | Burj Binghatti Jacob & Co | Planned as the world's tallest residential tower |
| Club living | DWTN Residences | Six club levels, children's club, metro nearby |
| Private water access and peace and quiet | Vela Viento, Bugatti Residences | Few neighbours, hotel-style service, pool by the apartment |
| Everything upfront, no schedule | Peninsula Four | Full payment, with handover now due |
Who it is not for. Anyone looking for a quiet family area with villas, schools and parks: this is a business district of towers and roads. Anyone who wants to live by the sea: the beach requires a drive from here. We wrote about a leisure island near Abu Dhabi in our article on Yas Island. To understand foreign ownership in the Emirates, read our guide to freehold.
Buying mistakes
Quick answers
Where is Business Bay?
In Dubai, immediately behind Burj Khalifa and Downtown Dubai. The area runs along the canal between Sheikh Zayed Road and Al Khail Road. It is not a separate city or an island, but part of central Dubai.
How much does an apartment in Business Bay cost?
The most affordable apartment in a new development costs AED 949,990 at Deyaar's Regalia. Binghatti Skyrise starts at AED 1,030,000 and Canal Heights at AED 1,100,000. The median for the area's new developments is about AED 2.8 million, while waterfront residences by Omniyat, Bugatti and Regent range from AED 17.5 million to AED 39.5 million.
Which Business Bay developments are handing over soon?
Bugatti Residences, Canal Heights and Binghatti Aquarise hand over in Q4 2026. Burj Binghatti Jacob & Co, Binghatti Skyrise, Safa Two and Vela Viento hand over in 2027. DWTN Residences hands over in Q4 2030.
Can you live in Business Bay, rather than only work there?
Yes. People have long lived in apartments by the canal, and the new developments are residential, with pools, gyms and services. But it is a business district: there are offices nearby, heavy traffic during the day and less parking than in family areas.
How do you pay for an apartment under construction?
Each development has its own plan. At Burj Binghatti Jacob & Co, 70% of the price is due at handover. At Binghatti Skyrise, 70% is paid before handover. At Peninsula Four, the full amount is paid upfront. By law, the money goes into the development's escrow account.
Have buyers made money reselling in Dubai?
Yes. For example, our client bought a 40 m² studio in Dubai, 15 minutes from Burj Khalifa, and sold it before the development was handed over, making a 14% return over 16 months. This is the outcome of a past transaction, not a promise: the market can fall as well.
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