Dubai developer Danube Properties to build 101-storey tower in Business Bay

Bayz101 set to be among the world’s tallest residential buildings

Bayz101 will have 1,346 apartments and is the developer's largest project to date, in terms of both units and overall space. Photo: Danube Properties
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Danube Properties has announced plans to build a 101-storey tower in Business Bay, the latest major project to be announced in Dubai.

Bayz101, which will have 1,346 apartments, is the developer's largest project to date in terms of both units and overall space.

The 2.1 million square feet development will include apartments from studio size, which start at Dh1.2 million, up to four bedrooms, which start at Dh5.8 million.

The larger apartments in the project – the majority of two-beds, all three-beds and all four-beds – come with their own swimming pool.

The tower will also have a rooftop swimming pool, a health club and a jogging track.

The project's total development value is more than Dh3 billion.

Bayz101, which is Danube Properties’ 28th real estate project in Dubai, is expected to be completed in 2028 and will be among the world's tallest residential towers, alongside Princess Tower and Marina 101 in Dubai Marina.

Rizwan Sajan, founder and chairman of Danube Group, described its latest launch as a “historic moment” for the developer.

“Bayz101 is a dream and it is also our statement. It reflects our larger-than-life dream and it also reflects that we convert our dreams into reality,” Mr Sajan said.

“It is a historic moment for us as we announce the biggest and tallest tower in our portfolio.”

The company has launched 28 projects since it entered the real estate market in June 2014, with a combined development value exceeding Dh18 billion.

The project launch is the latest in a series of high-end launches in recent weeks.

On Thursday, Arada launched sales of its luxury project in Dubai, the Armani Beach Residences at The Palm Jumeirah, while London Gate unveiled the design and interiors for its Franck Muller Aeternitas tower in Dubai Marina on Tuesday.

Both developers confirmed plans to launch further luxury projects in the coming months.

In December, Sankari Properties, a new entrant in Dubai's property market, announced plans to build a $1 billion ultra-luxury development in Business Bay.

Dubai property sales continued to register price increases in recent months.

Real estate broker CBRE said residential prices rose by 19.6 per cent annually in the third quarter, with prices for apartments and villas increasing by 19.7 per cent and 18.9 per cent, respectively.

It said sales of properties worth more than Dh5 million and Dh10 million in the emirate hit record levels in 2023, rising by 54.5 per cent and 68.4 per cent, respectively.

Updated: January 15, 2024, 9:19 AM