The UAE’s most glittering gem, Dubai is a place our CEO, Ryan Luke speaks of often. Not only is it a city that’s exceptionally close to his (and the team’s) heart, it’s a breeding ground for business wins and pleasures – particularly in the hospitality industry.
If you’re thinking of branching out your property business in this sunlit slice of Arabian heaven or are heading over there for work anytime soon, then it’s worth getting to know the peak business “hotspots” and creating a commercial plan accordingly.
So, through our travels, business experience (and some research), we’ve summed up 5 of the most lucrative areas in Dubai, for you.
Sheikh Zayed Road – Route E11
Home to the most iconic architectural landmarks in the world is Sheikh Zayed Road.
If you’ve been following our CEO’s LinkedIn Newsletter (The Property Powerhouse), then you’ll know how much Sheikh Zayed Road means to him and the Luke Capital Group brand, at large. Because it was on this road where Ryan Luke first realised his dream of creating a global STR empire.
The tall buildings and the bustle – the likes of Dubai World Trade Centre and Emirates Towers inspired him to change his own life a few years ago; and continue to do so, to this very day.
Sheikh Zayed Road (also known as the E11 route) is actually the longest road in the UAE. It beautifully passes through the centre of Dubai and connects to Abu Dhabi and Ras-al-Khaimah, while being generously crammed with high-rise infrastructures, global establishment buildings and luxury apartments.
This expansive part of Dubai is where you’ll find the most lucrative real estate and hospitality business opportunities – as Sheikh Zayed Road contributes (heavily) towards the flourishing economy of the nation. Definitely a top pick from us on the business front.
Deira – Old Dubai
Celebrated for being a historically significant area within the city, Deira is bordered by the Persian Gulf, Sharjah and Al-Awir. It’s located on the northern end of Dubai Creek and is widely described as being “gritty and chaotic” – in the most enticing of ways!
This stunning part of “Old Dubai” is a cultural mix of “old and new”. Buzzed with perfume souks, textile souks, gold souks and spice souks, Deira is a firm favourite among locals and tourists, and also boasts various restaurants and small-time eateries.
The neighbourhood houses some of the oldest offices, government buildings and retail centres; and has strong connections to Emirates’ past (thanks to the Heritage House and Al Ahmadiya School).
As such, this is an excellent location to set up a business base as it promises huge opportunities. In fact, with the long-awaited Palm Deira Development coming soon, there’s much to look forward to in this part of Dubai.
Business Bay – Busiest Spot In Dubai
Increasingly emerging as the most desirable area to set up a business, Business Bay is one of the densest residential and commercial spots in Dubai.
But, only for those entrepreneurs who are serious about scaling their business! The area is costly and a magnet for wealthy and sophisticated customers. This comes as no surprise when you consider that Business Bay has the likes of Dubai Mall, Dubai Mall Fountains, Burj Khalifa, The Museum of the Future, City Walk and Dubai Opera all in its vicinity.
The area comes alive with buzzing streets, breathtaking views of the city’s skyline, and the glistening waters of Dubai Canal – easily a treat (for all senses) whether one is a visitor or a businessperson.
Al Quasis – Dubai/Sharjah Border
Being one of the oldest and culturally rich areas of Dubai, Al Quasis is a slight change from the overtly glamorous side of New Dubai. It’s a suburban area, sitting quaintly near Port Saeed and Dubai Airport Freezone.
While you won’t find many towering skyscrapers in this part of Dubai, Al Quasis remains a promising business hotspot as it allows entrepreneurs to cater for a mixed demographic of Dubai and Sharjah. The rental trends are relatively lower when compared to other areas of the Emirates and its neighbourhoods home exceptional standard schools, nurseries and low mid-rise flats.
Bur Dubai – The Great Intersection
The oldest business space in Dubai, but absolutely jam-packed with opportunities and historical gems. Bur Dubai is a reminder of past Dubai patrimony and is home to a myriad of sites including The Ruler’s Court, Dubai Museum, heritage villages and some of the oldest souks.
This area is rife with trendy cafes, galleries and eateries, making it an ideal location for hospitality businesses (who also want to benefit from the rich Middle-Eastern culture). One of the best things about Bur Dubai is the opportunities it presents to network with other entrepreneurs as the area is usually favoured by start-ups and governmental initiatives.
While it may seem that there are other upscale communities surrounding Bur Dubai, this area still remains one of the most sought-after locations for renting and real estate, due to its attractive locations and abundance of amenities – so that’s certainly something to bear in mind.
Start Your Property Business In Dubai
If we’re honest, there’s a very thin line between “business” and “pleasure” in Dubai, as it’s such a breathtaking part of the world. While this round-up isn’t massively exhaustive, it should hopefully serve as some direction and inspire you to consider scaling your property business in the sunny, sandy UAE.
Should you have any questions about hospitality in Dubai, do continue to follow us on our social channels and check out what properties we have to offer!