Business Bay is part of the vision of His Highness HH Sheikh Mohammed Bin Rashed Al Maktoum, UAE Vice President, Prime Minister, Minister of Defence and Ruler of Dubai to make UAE a global commercial & business center, Business Bay will be a new ’city’ within the city of Dubai & will be created as a commercial & business cluster along the new extension of the framed Dubai Creek extending from Ras Al Khorto to Sheikh Zayed Road.
Covering an area of 64 million square feet, the new initiative will feature facilities such as office & residential towers set in landscaped gardens interspersed with a network of roads, pathways and fascinating canals. The ambience will be designed to add to the magnificence of the project and provide a highly conducive environment and infrastructure for business from around the world that wish to establish their local, regional & international headquarters at Business Bay.
Dubai’s Business Bay will be similar in nature to Manhattan or Ginza, which are the business centres for the cities of New York & Tokyo. In the past the prosperity of Dubai depended heavily on the Creek. The first phase of Dubai’s incredible transformation into a regional hub was begun with the dredging of the Creek in the 1970’s. It is expected that the new extension of the Creek will mark Dubai’s entry into the global business cities’ league.
Business Bay is the cornerstone of the new economic push to extend the international role of the UAE. It was undertaken after extensive studies by some of the world’s top consultancies, and reflects the ambitious vision of Dubai and the role that the UAE is looking forward to play as a leading commercial and business centre.
The ambitious project is expected to attract a large number of regional & international firms especially with its modern infrastructure and facilities, in addition to the existing business-friendly rules & regulations.
Business bay will fulfill the growth needs in medium to long terms. Besides the growing demand of the local economy - which is projected to achieve an average growth of 5% annually over the next few years - the UAE is attracting increasing foreign investment.
Hundreds of companies are setting up offices in Dubai every month and an increasing number of regional & international companies are working from the country.
All this creating a huge growth in demand that cannot be fulfilled by existing projects and those under execution. That is why this huge Business Bay has been launched. Business Bay will be developed and managed by Dubai Properties a member of Dubai Holdings.
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