Business Bay 5.39

Business Bay is a central business district under construction in Dubai, United Arab Emirates. The project features numerous skyscrapers located in an area where Dubai Creek has been dredged and extended. Business Bay will have upwards of 240 buildings, comprising commercial and residential developments. The infrastructure of Business Bay has been completed in 2008, and the entire development is expected to be completed between 2012-2015. Business Bay is part of the vision of His Highness Sheikh Mohammed Bin Rashed Al Maktoum, UAE Vice President, Prime Minister, Minister of Defence, and Ruler of Dubai. Business Bay will be a new 'city' within the city of Dubai and is being built as a commercial, residential and business cluster along a new extension of Dubai Creek extending from Ras Al Khor to Sheikh Zayed Road. Covering an area of 64000000sqft, once completed it will comprise office and residential towers set in landscaped gardens with a network of roads, pathways and canals. It will become the region's business capital as well as a freehold city.DevelopmentThe entire development covers an area of 46900000sqft, and the gross leasable area is 78500000sqft. The projected population of the entire development is more than 191,000, and the estimated population of employers and others is 110,000, making the total population more than 300,000. Commercial development will comprise 2653244sqft, which is 18.5 percent of the entire development; mixed use development will comprise 8,520,368 sq ft (59.4 percent); and residential development will cover 3,163,628 sq ft (22.1 percent). Business Bay will cost AED 110 billion (USD 30 billion).Bay SquareBay Square is a mixed-use community within Business Bay. The entire development will be a pedestrian-only zone, and will include walkways over canals. It will cover over 2400000sqft and will be located 1 km away from Sheikh Zayed Road within Business Bay. When completed it will comprise canals, sidewalks, restaurants, cafes and retail stores. It will have 1600000sqft of office space; Bay Square will host numerous small and medium-sized enterprises. When Bay Square completes there will be approximately 575 offices with an average size of 2000sqft. Bay Square is expected to be completed in 2010. It will comprise the following buildings: