#PROJECT: BUSINESS BAY

[DUBAI]

They are a good maketing tool as well, looks nice, gives it a more sofisticated and relaxing look and feel!

[Insane alex]

OMG! I can't bealive this!!!

[Dubai-Lover]

Phase 1 of Dubai's Business Bay project realizes sales of a massive AED 4 billion

The phase 1 of the Business Bay project has been sold out within a few hours of it's going on offer, according to the top official of the firm managing the project.


'We are delighted with the response. When we put the first phase of the Business Bay on offer, we were overwhelmed by the demand. The entire phase one was sold out in a matter of hours. Total funds generated from the sales were worth a massive AED 4 billion,' said Hashim Al Dabal, Chief Executive Officer of Dubai Properties, which is overseeing the execution and management of Business Bay.

Al Dabal said: 'Business Bay is attracting investments that are worth tens of billions. The project has long-term dimensions that will far exceed its direct shorter-term economic impact. It is being created as a global business centre just as Manhattan is for New York. Interest in the first phase is from both local and regional investors and the speed with which plots were snapped up reflects the confidence that investors have put into Business Bay and the flourishing economic future of the UAE.'

Business Bay is being executed by Dubai Properties, one of Dubai Holding entities, and is in line with the government strategy to encourage local and regional investments in the country.

Private sector role
'The project is open to the private sector, reflecting the significance of the role of the private sector in the development of the country. It also suggests that the role of government should be limited to extensively investing in infrastructure and providing an attractive legal and regulatory environment as well as launching similar initiatives that attract local and regional investments,' Al Dabal pointed out.

He added: 'Although Business Bay will play a vital role in developing the local economy in the next couple of years and attract investments that are worth tens of billions of dollars, its longer term secondary and tertiary impact will, however, be much more than the direct economic gain. This is precisely because it helps put the UAE on the map as one of the most important business capitals in the world.

Global home
'Business Bay is the new commercial center that promises to provide complete services and well developed infrastructure, hence drawing the attention of leading regional and international companies who might want to be based in one of the most ambitious business projects in the region,' the Dubai Properties CEO pointed out.

He said the project reflects the vision of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai UAE Defence Minister, who wants that by the year 2010, the UAE will be firmly established as a leading international business, commercial, and tourism centre. 'Business Bay will provide the ideal environment for international business as it offers high standards of stability and security, a well developed infrastructure, a modern set of rules and regulations, not to forget the strategic location of the UAE as a link between the East and the West.'

Prime location
Al Dabal pointed to the location of the Business Bay along the exclusive Creek side. 'The situation as well as the area of the project has played a big role, especially as free lands along the famous Dubai Creek and the sea are very rare now – a fact that lends exclusivity to the project and which makes it much sought after amongst investors.

'Although the majority of the investors were nationals, we have, however, witnessed several eager investors that we have never seen before from the GCC. This gives us a great sense of confidence in the projects to be launched at local and international levels,' he added.

Global base
The cluster at Business Bay will extend several kilometers along an extended Dubai Creek starting from the Ras Al Khor area to the point on Sheikh Zayed Road where the previous Central Military Command existed. This whole area will be transformed into an active commercial and business district that will encourage leading firms to house their local, regional and international headquarters there which also will be similar in nature to Manhattan or Ginza, which are the business centres for cities like New York and Tokyo.

Al Dabal said that Dubai Properties will work on different towers within the project, in order to make Business Bay the symbol as an ambitions country. 'We will develop Business Bay as a new international and regional capital for business. We will attract big organisations to consider Dubai as their main hub to serve their international markets and needs.'

It is worth mentioning that Dubai Properties, one of Dubai Holding entities, has been launched to manage leading existing projects in Dubai such as Jumeirah Beach Residence, Dubai Internet City, Dubai Media City, Dubai Healthcare City etc. It is also tasked to create, develop and manage new mega projects.

[ahmedr]

Interest in the first phase is from both local and regional investors

No international investors! Hope this doesnt turn into another Dubai Marina.

[Dubai-Lover]

in today's gulf news there was another render
look at how many towers will be built!

[Trances]

oh wow nat thats starting to look like a well planned city
With the towers hugging the creek. The open towers spaced towers
even if a 1/3 of these go up wow

[ahmedr]

Skyscraper metropolis.

[ahmedr]

Cant wait to walk down those narrow canyons and I love the grid layout. Finally, a real downtown.

[Chad]

Jesus Christ.

[Krazy]

Billions for Dubai's Business Bay

Dubai's new Business Bay development is attracting tens of billions of dollars in investment, according to developers Dubai Properties. The 64m sqft project will stretch several kilometres along an extended Dubai Creek, and is being modelled on international centres such as Manhattan.

[Karl McF]

I really like the look of the plan of the Business Bay Project.
How long will the skyscrapers town will take to be built?
What short of buscness company will there be?

[Krazy]

Im guessing its gonna look something like the render in atleast 10 years

[Serkal]

I've just heard a roumor that the 'new' creek will be extended all the way back to the sea.
Going through Sheikh Zayed Road, through Safa park (cutting it in half), and straight through the residential section there. There is a road heading from Safa Park to the sea (empty plot of land used currently by Dubai TV, you can see a huge antenna) - well that whole area wil be the final leg of the creek. Can anyone confirm this?

[smussuw]

Originally Posted by Serkal

I've just heard a roumor that the 'new' creek will be extended all the way back to the sea.
Going through Sheikh Zayed Road, through Safa park (cutting it in half), and straight through the residential section there. There is a road heading from Safa Park to the sea (empty plot of land used currently by Dubai TV, you can see a huge antenna) - well that whole area wil be the final leg of the creek. Can anyone confirm this?

I dont think that its true. In the rending it will be streached to the empty plot near metropolitan. The huge antenna is a totally different area far away from Safa.

[smussuw]

some one have posted saying that the extention might go through al athar road and safa park as u mentioned.

[ahmedr]

Duboy is the one who said that in the "Burj Dubai update II" thread in the Projects and Updates section. Unfortunately he's not very active on the forums although he seems to know so much about it, he even saw models of the WTB planned by Dubai Properties!! I wish he can tell us where its located or can get us pics or something.

[Serkal]

Originally Posted by smussuw

I dont think that its true. In the rending it will be streached to the empty plot near metropolitan. The huge antenna is a totally different area far away from Safa.

There are two antennas: the huge one that your thinking about is almost opposite burj alarab. I ment the smaller one which is on the beach parallel to Safa Park. If you guys look at a sattelite picture of dubai it would make sense. But the problem is that if this idea would ever materialize the creek would 'cut' thourgh so many roads - hence the municipality should build many bridges --- I dont think that is feasable.

[Duboy]

Serkal, where did you get that information from? There is such a proposal and you are right in that the extension involves huge complications, but this is dubai..if you know wht i mean. I was fortunate to see plans for the revised business bay and the plan is to extend the creek towards the sea, cutting across safa park. They are quite serious about this, and it does look like its going through. I dont have pictures Ahmedr, even if i had them, it wouldnt be fair on my part to put it here...thats coz these things are evolving and no one would speak about it untill it is officially announced. I just thought of sharing info with you guys.

The proposed revised version of the busness bay makes the already released renders look pale in comparision. The expanded area is massive and even the camel race track (no its not a small race track, its huge!!) seems to have been gobbled up, extending the bay all the way to nadalsheba in the southwest.
cheers friends.

[ahmedr]

Ahmedr, even if i had them, it wouldnt be fair on my part to put it here...thats coz these things are evolving and no one would speak about it untill it is officially announced.

its a model of a potential WTB, thats always exciting to see whether its still not final and might not even go through, or not. If you dont have pictures, can you at least tell us where yo u've seen it, if you're allowed to, of course.

The proposed revised version of the busness bay makes the already released renders look pale in comparision.

The expanded area is massive and even the camel race track (no its not a small race track, its huge!!) seems to have been gobbled up, extending the bay all the way to nadalsheba in the southwest.

Does that mean the creek itself is going to be extended all the way down there and up again or have they only alloted more space for towers to be built and the creek will still be extended as shown in the old renderings? Please try to elaborate more on this.

Btw, is there a huge model of the revised plan for BB or did you just see rendering. If its a model then that would be one hell of a model. Also, is there going to be a website for this project? Last question, when is it all going to be announced??

Im sorry Im asking too many questions, Im really excited about this project and since you seem to know a lot about it I couldnt help myself from asking you all these questions, Duboy. Thanx anyway for sharing.

[DUBAI]

Dubai will be an island!


BUT! will iran lay claim to it as they have layed claim to all the gulf islands!

and im glad that the planning dept read these boards and took heed at my sujestion!