Dubai: A prime waterfront plot on the Dubai Water Canal in Business Bay has been sold for a record-breaking Dh362 million, setting a new benchmark for land transactions in the area. The deal highlights the city’s thriving property market and the continued investor confidence in Dubai’s real estate sector.
Positioned along the Dubai Water Canal, the corner plot is one of the last remaining canal-front opportunities in Business Bay. It offers an ideal platform for a mixed-use development featuring premium retail and commercial spaces. The site connects directly to the canal boardwalk, providing easy access for walking and cycling, and enjoys excellent road links to Sheikh Zayed Road and Al Khail Road. Future transport plans, including upcoming stations on the Zabeel Track, Gold Line, and Express Line within 500 metres, are expected to further enhance accessibility.
According to recent market data, land plot prices in Business Bay have risen by nearly 16.7% year-on-year, with average rates increasing from Dh1,800 to Dh2,100 per square foot. The surge underscores strong demand for high-quality plots and long-term investor confidence in Dubai’s urban core.
Data from DXBInteract shows the median price per square foot in Business Bay currently stands at Dh2,434, reflecting a 7.3% annual increase. The district has also recorded over 10,600 transactions this year — a 19.4% rise compared to last year, driven by robust off-plan and secondary market activity.
Developers continue to face limited availability of waterfront plots, making prime land in Business Bay exceptionally valuable. Its central location, proximity to Downtown Dubai, and expanding portfolio of luxury residential and commercial projects have strengthened its position as one of Dubai’s most sought-after real estate destinations.
Looking ahead, analysts predict sustained growth for Business Bay, supported by Dubai’s expanding economy, increasing levels of foreign investment, and continued infrastructure enhancements along the waterfront. With such momentum, Business Bay is expected to remain a cornerstone of Dubai’s real estate growth story in the years to come.
