Bay Square, by Dubai Properties Group, is a 13 building mid-rise mixed-use development with a total built up area of around 5 million sq. ft.
- 3 residential buildings containing 326 apartments
- 570 offices - having a total of 1,000,000 sq. ft.
- 123 retail units, located mainly on the podium level
- A hotel (not yet opened as of Nov 2014), to be operated by the Jumeirah Group (according to developer press-releases).
The project's handover begun in July 2014, and the community is steadily maturing.
- The apartments in Bay Square typically command among the highest capital & rental values for residential in Business bay
November 2014 Update
- 4 individual banks have signed up entire buildings within Bay Square (similar to what we have seen take place in Emaar Square, Downtown Burj Dubai.
- The hotel is not yet operational
- Office space is delivered shell & core. Transaction prices for office space are currently between AED 1150 - 1250 psf. There is a lot of demand for full floors in this complex (typical floor plates range between 18 - 20,000 sq. ft.
- Residential: there are studios and 1 bedrooms with typically much larger sizes than one would find in most towers of Business Bay. Transaction values for 1 bedrooms are between AED 1.5 - 1.6 million (AED 1,400 - 1,500 psf), though we observe asking prices ranging between AED 1.8 - 2.0 million. Studio transaction values are around AED 1.1 - 1.2 million (around AED 1,700 psf)
- Retail in Bay Square is coming to life with a number of restaurants and cafes opening up.
Dubai Land Classification & Escrow Account Details:
Land Number: 71
Project Number: 1280
RERA Permit No:: 11045
Brokerage Firm: Taktical Realty Group LLC