Dubai, UAE — A prime waterfront plot in Business Bay, situated along the Dubai Water Canal, has been sold for a record-breaking AED 362 million. This sale sets a new benchmark for land transactions in the area and underscores the sustained demand for premium real estate in Dubai.
Strategic Location and Future Development
The corner plot offers direct access to the canal boardwalk, providing seamless connectivity for pedestrians and cyclists. Its proximity to major thoroughfares, including Sheikh Zayed Road and Al Khail Road, enhances its appeal for mixed-use developments. Additionally, planned stations on the Zabeel Track, Gold Line, and Express Line within approximately 500 meters are expected to further strengthen the site’s connectivity.
Market Dynamics
Business Bay continues to solidify its position as one of Dubai’s most sought-after real estate destinations, driven by robust investor demand and strategic urban development. Recent market data indicates that land plot prices in Business Bay have appreciated by approximately 16.7% year-on-year, with average rates rising from AED 1,800 to AED 2,100 per square foot. This surge reflects growing confidence in the area’s long-term value, especially for mixed-use and commercial developments.
