Business Bay is one of Dubai’s most dynamic and bustling districts, while also being one of the most populated professional districts within the city. It offers residents prime views of the iconic Burj Khalifa, and the famous Downtown skyline, while providing access to the serene Dubai Canal and a variety of the thriving social hotspots.
Rahail Aslam, Group CEO of Dubai based global property developer, Select Group, says that although Business Bay is a popular and lively district, it lacks developments that offer residents a sense of community that can be found in more established areas such as Dubai Marina.
In response to this gap in the market, Select Group is the master developer behind a new mixed-use community in Business Bay called Peninsula, which is slated to set new standards of living in this vibrant city.
Presenting waterfront living at its finest, Peninsula will offer a unique mix of residential and commercial units in the heart of Business Bay, all achieved through precise and strategic planning. It has already become one of the most highly sought-after developments in the city with the first project within the development, Peninsula One, almost selling out within one month of the launch in October. The second project, Peninsula Two, saw more than 30 per cent of its apartments sold within a week of it launching earlier this month. This success has allowed Select Group to accelerate the roll out of the next phase of the master development, which is scheduled to come to market in the first quarter of 2022.
The master development will provide residents with an all-encompassing community experience right on their doorstep. With access to numerous manicured parks, unrivalled communal sporting amenities, a waterfront marketplace with an array of restaurants and cafes, a variety of entertainment venues and a hotel, Peninsula presents an enriched community lifestyle. For residents, featured properties will be a mix of studios and apartments, as well as luxurious waterfront duplexes and villas, surrounded by the stunning Dubai Canal.
“Business Bay is not an area you would typically associate with this type of community-focused project and, as a result, we felt it was a truly once in a lifetime chance to have a major impact on the future of the city by creating a real centralised residential and lifestyle hub in the main business district of Dubai,” says Aslam.
He compares the Peninsula project to previous developments Select Group have handed over in Dubai Marina. “We want to create an anchoring sense of community in Business Bay, similar to what we achieved with our Marina Gate development. Peninsula will form the first suburban-style ecosystem in the heart of Dubai’s bustling Business Bay.
“We can impact how residents interact through a wide range of facilities and amenities on a grand scale rather than just on a building level. We want to transform the opinions that surround Business Bay. Peninsula will become the ultimate in destination living where residents have everything on their doorstep.”
Aslam says that Select Group’s decision to focus on Business Bay was based on a shortage of premium, waterfront plots throughout Dubai. He also says that Business Bay’s location was an important reason for their choice. “Business Bay is Dubai’s central business district, and the opportunity to secure this plot was truly unique. We are not only creating a one of a kind real estate offering but building a neighbourhood which is designed to promote and foster an active and engaging lifestyle across all walks of life.”
One key factor behind the conceptualisation of Peninsula was accommodating the priorities of residents following the outbreak of Covid-19. “Throughout the various ups and downs of the pandemic, residents have become much more accustomed to working from home and spending less time away from the immediate vicinity of their homes,” he says.
Peninsula has been designed to ensure living spaces are as bright, relaxing and comfortable as possible, with a close connection to the outdoor environment. “We are making sure we deliver a development that lets people look out of their windows and see green spaces in a waterfront setting, while inviting them to walk through a park to decompress, without having to get in a car,” explains Aslam.
“We are making sure all our designs are maximising the internal areas of every unit to create as much space for residents as possible. We have designed all the apartments in a way to make sure natural light features heavily, with floor to ceiling windows throughout the developments.”
Aslam says that outdoor spaces have also been designed to cater for all demographics, ranging from young professionals to family focused residents. “Residents need safe and accessible spaces, whether it’s parents who want their children to be able to run around and play in a safe and friendly environment, or individuals wanting access to a variety of communal health and leisure amenities in a convenient setting. We pay close attention to evolving market trends and this has consistently been reflected in the developments we’ve delivered over the years. We have identified these factors as being important for buyers when considering a property in the current market and are ensuring we deliver best in class amenities.”
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