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Jumeirah Group launches luxury branded residence in Dubai’s Business Bay

The National Business News - August 2, 2022
An artist’s impression of the Jumeirah Living Residences Business Bay tower in Dubai.

Jumeirah Group has unveiled its fourth branded residence in Dubai as part of the area’s new Peninsula waterfront development.

Jumeirah Living Residences Business Bay is expected to be complete in the fourth quarter of 2025, and will accompany Jumeirah’s other residences in the city — Jumeirah Zabeel Saray Royal Residences, Jumeirah Living World Trade Centre Residences and Jumeirah Living Marina Gate.

The project is being built in partnership with developer Select Group, and will be one of six premium residential towers within the Peninsula development on the edge of Dubai Canal.

Travellers are looking for more than just a hotel room when they come to Dubai, according to Jose Silva, chief executive of the Jumeirah Group.

“Our Jumeirah Living serviced hotel residences at Marina Gate have proven highly popular since opening in 2020, where we have seen a rise in global travellers in search of that ‘home away from home’,” he said.

“We are entering a new dynamic of hospitality where guests are no longer simply a holiday maker, business traveller or staycationer; they are now often all three rolled into one, looking for greater immersion in the local community.”

The 35-storey tower includes 82 premium branded residences, including two, three, four and five-bedroom units, along with a unique full-floor, five-bedroom penthouse located on the top floor.

It will have concierge services, a resident’s lounge, a teenager lounge with gaming amenities and a co-studying area.

Dubai has become a key global centre for branded residences in the past 10 years, according to a recent report from Knight Frank.

“Residential development across the emirate has flourished since 2010 with the Armani Residences Burj Khalifa first in the market. Since then, we have seen an explosion of this asset class with strong demand from HNW [high-net-worth] and UHNW [ultra high-net-worth] buyers from across the globe,” said Dean Foley, head of residential project sales and marketing at Knight Frank Middle East.

“Such has been the rate of expansion that Dubai is now a global leader rivalling Miami and New York for completed and pipeline projects. Over the last 12 months, we have seen launches from Four Seasons, The Ritz-Carlton, St Regis, W and Six Senses, cementing Dubai’s popularity and boosting confidence with hotel operators, developers, owners and buyers.”