DPG releases more buildings for sale in Bay Square

Dubai Properties Group, the real estate arm of Dubai Holding, said on Monday it has released more buildings in its Bay Square project in Business Bay following a sell-out response to the first phase.

The phase one of the five million square feet mixed-use project received strong investor interest after its launch, with sales of over 450 commercial and residential units now confirmed, the developer said in a statement.

DPG said it is releasing more buildings in phase two for sale. The additional mixed-use buildings are currently in the final stages of development.

Khalid Al Malik, Group CEO, DPG said; “The strong investor response to Bay Square is a testament to the demand for centrally located commercial and residential property in the city. That, coupled with Dubai’s recognition as a thriving business hub for the region, has resulted in the interest we have witnessed in the last few days.”

He continued: “With the increase in demand for high quality mixed use developments from local and overseas investors, DPG is now releasing further buildings for sale in the second phase of the project.”

The Bay Square development includes one million square feet dedicated to commercial space, with options available from 1,500 square feet to entire floors including balconies and terraces.

The development is accessible from all major highways and is close to Business Bay Metro station, Sheikh Zayed and Al Khail Roads.

Bay Square will include 12 towers on completion of the project, with investors offered a finance package of 30 per cent on booking and the remaining 70 per cent on handover.

Retail units covering 290,441 square feet at the podium level of each of the buildings have received strong interest from some of the top retail brands with numerous dining and shopping outlets already confirmed. Units are designed to include open terraces and piazzas for cafes and restaurants and have their own parking space for visitors.