Mukarrib Holdings has sold a prime waterfront plot on the Dubai Water Canal in Business Bay for a record-breaking AED 362m, reflecting a market that remains exceptionally liquid. The transaction was brokered by Driven | Forbes Global Properties.
Positioned on the Dubai Water Canal and among the last true canal-front opportunities in Business Bay, the corner site offers an ideal platform for a mixed-use project and premium retail development.
“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.”
Abdullah Alajaji, Founder & CEO, Driven | Forbes Global Properties
It opens directly onto the canal boardwalk for effortless walking and cycling, with swift links to Sheikh Zayed Road and Al Khail Road. Looking ahead, planned stations on the Zabeel Track, Gold Line, and Express Line within roughly 500 meters will further strengthen connectivity.
“Between the buildable area, height, and location, there’s real room to design something special.”
Lina Allaoa, Associate Partner, Driven | Forbes Global Properties
Developers continue to face a constrained pipeline of prime plots, with waterfront sites being exceptionally rare. Business Bay remains one of Dubai’s top-selling communities, supported by robust off-plan activity.
“It’s the kind of waterfront living that international buyers and brands consistently ask for: high quality, easy to enjoy, and well connected.”
Kianoush Darban, Associate Partner, Driven | Forbes Global Properties
The context of limited supply and durable demand helps explain the record-setting AED 362m land price for a site with this visibility and scale.
