Waterfront Plot in Business Bay Sells for Record AED 362 Million
Waterfront Plot in Business Bay Sells for Record AED 362 Million
Dubai’s real estate sector continues to make headlines as a prime, canal-front plot along the Dubai Water Canal in Business Bay has just been sold for a record AED 362 million, highlighting the strength and dynamism of land transactions in the city.
The seller behind the deal is Mukarrib Holdings, and the sale was brokered by Driven | Forbes Global Properties. This corner plot is one of the rare remaining true waterfront sites in Business Bay, making it especially attractive for mixed-use development or high-end retail projects.
One of the key features of this parcel is its direct access to the canal boardwalk, offering seamless walking and cycling routes. Its proximity to major thoroughfares — Sheikh Zayed Road and Al Khail Road — adds substantial connectivity. Moreover, upcoming infrastructure plans, including stations for the Zabeel Track, the Gold Line, and an Express Line, are expected within about 500 meters of the site, which will further enhance its appeal.
Abdullah Alajaji, Founder & CEO of Driven | Forbes, remarked:
“Dubai’s residential and development land markets continue to show depth and pace. We’re seeing steady absorption, disciplined supply, and a clear premium for the best locations, especially on the waterfront, with no signs of slowing.”
He added that scarcity of prime plots, especially along waterways, is a major factor driving competitive pricing.
Lina Allaoa, Associate Partner at Driven, who advised Mukarrib Holdings, commented:
“With the buildable area, height, and location, there’s real room to design something special. It’s the kind of waterfront living that international buyers and brands consistently ask for: high quality, easy to enjoy, and well connected.”
In short, this landmark sale further cements Business Bay’s position as a priority zone for investors and developers seeking high-visibility, high-impact projects in Dubai’s evolving urban landscape.
