Development of the Month: Peninsula Five in Business Bay
Kicking off our Development of the Month hall of fame for 2022 is Peninsula Five by Select Group. Located in the heart of Business Bay, this waterfront tower offers a splendid living experience. With immaculate modern designs, fabulous location and attractive pricing strategy, Peninsula Five in Business Bay is one of the most talked-about projects in the emirate. If you’re looking for off-plan properties in Dubai, Bayut’s Development of the Month for January is a great choice.
ALL ABOUT PENINSULA FIVE IN BUSINESS BAY
Elegance, sophistication and comfort define this exclusive address located on the Dubai Canal. Investors and buyers have two options for buying a property in Peninsula Five. They can either opt for apartments in the residential tower or settle for luxury waterfront duplexes that offer stunning views of the waterways.
RESIDENTIAL TOWER
The 37-storey residential tower in Business Bay offers premium studios, 1, 2, 3 and 4-bedroom apartments and duplexes. Focusing on modernity and invention, the building’s design ensures maximum use of the available space. Peninsula Five in Business Bay will stand out because of the developers’ lengths to ensure that the properties meet modern tastes and preferences.
Here’s an overview of the covered area for different apartments.
Apartment Type | Covered Area |
|---|---|
Apartment Type Studio | Covered Area 513 – 543 sq. ft. |
Apartment Type 1-Bed | Covered Area 702 – 1,438 sq. ft. |
Apartment Type 2-Bed | Covered Area 1,161 – 1,864 sq. ft. |
Apartment Type 3-Bed | Covered Area 1.683 -1815 sq. ft. |
Starting prices for flats in the residential tower are as follows:
Apartment Type | Starting Sales Price |
|---|---|
Apartment Type Studio | Starting Sales Price AED 886,500 |
Apartment Type 1-Bed | Starting Sales Price AED 1,218,500 |
Apartment Type 2-Bed | Starting Sales Price AED 2,045,000 |
Apartment Type 3-Bed | Starting Sales Price AED 3,515,000 |
- 4% commission applies
WATERFRONT DUPLEXES
If you are interested in owning waterfront duplexes, feel free to choose from 1 to 4-bed units. Each duplex has floor-to-ceiling windows to let in maximum sunlight and allow residents to enjoy uninterrupted community views.
Waterfront duplexes in Peninsula Five, Business Bay have a greater covered area than flats in the residential tower. Hence, if you are looking for a larger space, this could be better. Here’s an overview of the covered areas of waterfront duplexes.
Apartment Type | Covered Area |
|---|---|
Apartment Type 1-Bed | Covered Area 794 – 1,209 sq. ft. |
Apartment Type 2-Bed | Covered Area 1,623 – 2,407 sq. ft. |
Apartment Type 3-Bed | Covered Area 1,801 – 2,676 sq. ft. |
Apartment Type 4-Bed | Covered Area 4,710 – 4,730 sq. ft. |
Starting prices for waterfront duplexes are as follows:
Apartment Type | Starting Sales Price |
|---|---|
Apartment Type 1-Bed | Starting Sales Price AED 1,517,000 |
Apartment Type 2-Bed | Starting Sales Price AED 2,952,000 |
Apartment Type 3-Bed | Starting Sales Price AED 3,196,000 |
Apartment Type 4-Bed | Starting Sales Price AED 9,675,000 |
- 5% commission applies
AMENITIES ON OFFER
Peninsula Five in Business Bay Dubai offers all the modern amenities one could hope for. The list includes:
- Manicured gardens
- Unrivalled communal sports amenities
- A waterfront marketplace
- Cafes
- F&B outlets
ABOUT BUSINESS BAY
If you look at Dubai’s real estate market, you’d see that Business Bay is a thriving locality. Given its proximity to Downtown Dubai, properties here are always in high demand. The neighbourhood scores high when it comes to prestige and glamour perception. In fact, it offers a living experience quite similar to Downtown Dubai but at a relatively affordable price.
Those residing in Peninsula Five project Business Bay have direct access to Sheikh Zayed Road, First Al Khail Street and Marasi Drive. This means you can drive to other areas without much hassle. Dubai Metro‘s Business Bay Metro Station isn’t far away either. You could also opt for RTA buses or RTA Marine water taxis. Major Dubai landmarks like Burj Khalifa, Dubai Mall and Dubai Opera are a short drive away.
Another factor of paramount importance to young parents is the presence of schools. You can easily find quality schools near Business Bay. Hence, young families need not hesitate to rent or buy property here.
ABOUT THE DEVELOPER
The Select Group is a multi-disciplinary corporation with real estate development at the forefront of its business model. With a global workforce and investments in countries like the UAE, Croatia, Germany and the UK, the company has made tremendous strides in recent years. Currently, they manage a portfolio of 20 million sq.ft. In terms of property development and construction, The Select Group have built over 7,000 homes. Some of their notable residential projects include:
- Six Senses Residences The Palm, Dubai
- Peninsula One
- Peninsula Two
- 15 Northside
- 98 Baker Street
WHY INVEST HERE?
After a pandemic enforced slowdown, the Dubai real estate market has considerably bounced back. The latest real estate trends depict that the time is right to make investments. While Business Bay is a well-developed area, there is still potential for considerable growth. You can buy a home in Peninsula Five in Business Bay as a long term investment or move in upon completion and make it your home for years to come. Either way, you are likely to make a substantial profit in the long run.
Given the location, architectural design and amenities, these apartments offer great value for money.
PAYMENT PLAN
The Select Group has come up with a favourable payment plan for those interested in buying a property in the Peninsula Five in Business Bay Dubai.
- 5% upfront reservation fee
- 10% within 30 days (When SPA is issued)
- 15% within 6 months of initial payment
- 10% within 9 months after the initial payment
- 60% upon completion of the project
- DLD Registration fee covered by Select Group
FREQUENTLY ASKED QUESTIONS
WHAT IS THE EXPECTED COMPLETION PERIOD FOR PENINSULA FIVE PROJECT BUSINESS BAY?
Q4 2024 is the official completion date as announced by The Select Group.
WHAT’S IT LIKE TO LIVE IN BUSINESS BAY?
Wondering what life would be like if you moved to Peninsula Five in Business Bay? Here’s a detailed analysis of the pros and cons of living in Business Bay to help you understand better.
This concludes our look at Peninsula Five in Business Bay. It looks like an attractive proposition in terms of its location, connectivity, amenities, nearby entertainment avenues, presence of schools and the starting sales prices. With the global and UAE economy on the road to recovery, the positive trends of the property market shall likely continue. You could have your share of success by making the right move now.
