Business Bay is a thriving area in Dubai on the banks of the canal. It is home to hotels, apartments, restaurants, nightlife, entertainment, and a winding canal that leads through the entire area. Investing in property here is a smart move for lots of reasons and there is a high potential for significant revenue for investors if they work with the right team and understand the ins and outs. Let’s explore more about Business Bay in this guide from UpperKey.
What Is Business Bay Known For?
As an area, it is often defined as a place for business meetings, travelers, and other commercial ventures. There is plenty to do and see, and the skyline is one of the most stunning that the world has ever seen. It is a well-established area with lots to offer when it comes to property ownership and management ventures.
Typical Property Styles in Business Bay
Here, you will find a range of properties, but skyscraper apartments dominate the housing market to a certain extent. Luxury is the vibe, and the accommodation certainly delivers on that theme. It is important if you do invest in property here that you keep this in mind because there is a high standard and certain expectations to uphold. There are apartment options starting from studios up to four bed installations and a range of townhouses too.
Culturally speaking, there is plenty to do in and around Business Bay. There are plenty of picks that will keep you highly entertained including the Tamani Art Offices, The Citadel, Metropolis Tower, and Clover Bay Tower. Not all of these are big days out, but actually going and seeing the impressive skyscrapers is more than enough for anyone with a passion for stunning architecture.
Public Transport: What Are the Options?
When it comes to getting around Business Bay, tourists and residents have enough options. It is not recommended to drive about here, but you can if you need to. There is a metro line, buses, and a high taxi presence too. Taxi services are generally safe to use, with minimal reported crime incidents to talk about.
Regarding amenities, there are some great picks for residents and tourists alike. There are some big supermarkets that are well stocked and reasonably priced. Though the cost of living in the area is slightly higher compared to other parts of the world, it is typical for Dubai.
For parents looking to set their children up in an educational establishment, there are also amazing options around Business Bay. Pre-school wise there is Mable Bear Pre-School, Hummingbird Nursery, and First Path Montessori, all well-reviewed and attended. For older children, there is the Safa British School close by and Dubai International School as well.
Shopping and Eating
Business Bay has great access to Dubai Mall where there are hundreds of shopping opportunities to be found. There is also the Bay Avenue Mall which is in the heart of Business Bay to explore. You can eat in any of the great restaurants in the area from Kitchen 6 to Tong Thai.
The Advantages of Property Management Companies in Business Bay
If you have a property in Business Bay, Dubai, and need some professional management to make asset control easier, UpperKey has the experience to help. Whether it is a short-term let model, a long-term accommodation, or something on the Airbnb platform, there are lots of advantages to uncover with a professional management company. Consider the best ones below.
Location Specific Insight
A major way to boost profits and create a steadier stream of revenue for your investment is to appeal to local trends and move with relevant developments as opposed to staying outside of the loop. You can find a lot of benefits in a property management company that has a deep understanding of a local economy and the changes or incoming events in the area, for instance, rent price trends and so on.
Advertising a Property
It is difficult to correctly market a property without expertise leading the way. As a property management company, UpperKey has insider knowledge about which method of advertisement and exposure is appropriate for your specific property type. A strong marketing agenda will boost bookings and increase revenue immediately. It can also help to improve things like occupancy rates and return stays as well if you put your property on the right platforms and implement the best tricks of the trade. Advertisement is a key aspect of anyone with letting goals in mind and it will make or break an investment depending on how well it is executed.
Constant Access to Support
There is no way to really tell when something might go wrong with a house or apartment. The great thing about working with a professional management company like Upper Key is that we are on hand 24 hours a day to handle emergency situations that may happen. Leaking pipes and broken boilers wait for no man, and the last thing you need is a negative review because a problem wasn’t resolved quickly enough. Customer care is everything in the world of lettings regardless of whether this is through an Airbnb agenda or another short-term and long-term journey.
The main goal of property investors is to see a profit on their investment. Management facilities will work hard to meet this target and ensure that every action taken is driven by nurture and revenue potential. By improving marketing strategies or focusing on customer satisfaction and occupancy rates over a rental period, it is easy to maximize income in this respect.
Ensuring Legality at All Times
Have you sat down and gone through every single law regarding property in Business Bay? Well, Upper Key has. In fact, property management ventures make it their primary mission to ensure their clients are operating legally across the board in all areas. Everything from surveys to inspections is considered and taken care of so that you don’t have to suffer from a legal headache.
So, there are many advantages to property management in Business Bay. This area is affluent and popular for so many reasons. It has a constant flow of professionals and travelers who all require specific things for their short-term let experience. There are also opportunities for long-term investments too if you find the right target market.