Dubai: Dubai Properties Group, a member of Dubai Holding, has announced that two buildings in its Bay Square development located in Business Bay are complete and a further four are at the final stages of completion.
The developer intends to release additional buildings in the centrally located project which includes residential, retail and commercial buildings.
The Real Estate Regulatory Authority (RERA) registered mixed use development, located in the heart of Dubai’s Business Bay district, includes 1 million sq. ft. dedicated commercial space, with options available from 1,500 sq. ft. to entire floors with balconies and terraces. With unobstructed views over Business Bay and the Burj Khalifa area, Bay Square is an ideal location for multi-national, regional and SME businesses.
“We see the commercial and residential real estate sector continuing to experience stable growth.
“With increased demand for mixed use developments such as Bay Square, coupled with the progress we have made in completing major infrastructure milestones in Business Bay; now is the right time to release the buildings for sale,” said Khalid Al Malek, Group CEO of DPG.
Covering a built up area of over 5 million sq. ft., Bay Square will include 12 towers on completion of the project and is currently one of Dubai’s most sought-after developments for commercial property investors offering a finance package of 30 per cent on booking and the remaining 70 per cent on handover.
The retail segment, which is available for lease, has received strong interest from some of the top retail brands with 16 dining and shopping outlets already confirmed.
Retail units covering 290,441 sq. ft. at the podium level of each of the buildings are designed to include open terraces and piazzas for cafes and restaurants and have dedicated visitor parking.
Bay Square offers a wide selection of residential options including studio, 1 bedroom and contemporary loft apartments up to 1,300 sq. ft. and offering high quality finishes such as polished marble floors and hardwood joinery.
Infrastructure and landscaping in and around Bay Square is currently at 90 per cent completion with essential services such as sewage systems, water and cooling services.
Situated close to South Ridge and Executive Towers and overlooking Business Bay and the Burj Khalifa area, the 5.1 million sq. ft (BUA) Bay Square development is accessible from all major highways and is in close proximity to the Business Bay Metro station, Sheikh Zayed and Al Khail Roads.
