Business Bay canal-front land sale
Dubai’s property market has once again made headlines as a prime canal-front plot in Business Bay sold for Dh362 million, setting a new record for the district’s land sales.
The corner parcel — one of the few remaining genuine canal-front lands — sits directly on the Dubai Water Canal, offering potential for mixed-use luxury development with panoramic waterfront views.
Located steps away from the canal boardwalk, the site provides easy access to Sheikh Zayed Road and Al Khail Road, while upcoming Gold Line, Express Line, and Zabeel Track stations will further enhance connectivity.
Business Bay: Dubai’s thriving investment hub
Thanks to strong investor demand and sustained infrastructure growth, Business Bay remains among the city’s most desirable districts for investors and developers.
Recent data shows that average land prices in Business Bay climbed from Dh1,800 to Dh2,100 per sq ft, reflecting an annual increase of 16.7%.
“Dubai’s residential and development land markets continue to show depth and pace,” said Abdullah Alajaji, Founder & CEO of Driven | Forbes Global Properties, which brokered the record-breaking deal between Mukarrib Holdings (seller) and the buyer.
“We’re seeing steady absorption, disciplined supply, and a clear premium for waterfront locations with no signs of slowing.”
Limited supply, high demand drive premium pricing
Due to the scarcity of waterfront plots, competition among developers remains intense.
According to DXBInteract, Business Bay’s average property price has now reached Dh2,434 per sq ft, marking a 7.3% year-over-year increase, with 10,682 transactions recorded so far this year — a 19.4% rise from 2024.
“Between the buildable area, height, and location, there’s real room to design something special,” said Lina Allaoa, Associate Partner at Driven | Forbes Global Properties.
“It’s the kind of waterfront living that international buyers and brands consistently ask for — high quality, easy to enjoy, and well connected,” added Kianoush Darban, Associate Partner.
A symbol of Dubai’s continued real estate momentum
With Dubai’s economy expanding and foreign investment accelerating, analysts believe Business Bay will remain a central pillar of Dubai’s real estate growth story.
Ongoing infrastructure and waterfront upgrades will continue to elevate the area’s profile as a key mixed-use destination, combining residential, retail, and commercial excellence.