Peninsula Phase 3: Canal-Facing Apartments in Business Bay
Select Group developed Peninsula Phase 3 as the third release within their Peninsula master development. The project sits on the canal edge of Business Bay, with the Dubai Canal forming its waterfront boundary.
Business Bay, the Canal, and What the Address Delivers
Business Bay sits between Downtown Dubai and DIFC. The Peninsula cluster occupies the canal-facing side of the district, which gives the address a water aspect without the entry point of more established waterfront destinations. For a resident, the canal promenade is walkable, Sheikh Zayed Road is close, and the Business Bay Metro station provides Red Line access without a car. The drive to Downtown Dubai is typically under ten minutes. Dubai International Airport is around 20 minutes by road.
This location suits a professional commuting to DIFC or Downtown. It also suits an investor drawn to the proximity of Dubai's main employment and commercial centres. Business Bay has become one of the city's higher-density residential corridors, and the canal-facing position within it carries a distinct character from the inland towers of the district.
What AED 1M to AED 2.2M Gets You Here
Prices run from AED 1,011,285 to AED 2,227,371. The 2.2x spread reflects a project where entry-level apartments and larger premium units serve quite different buyers. At the low end, the buyer is acquiring a compact apartment suited to single occupancy or a straightforward rental investment. At AED 2.2M, the unit is larger and more likely to carry canal and landmark views, with full access to the building's amenity stack. The range covers the mid-market investor and the buyer looking for a more substantial canal-side residence within the same building.
Apartments Across the Range
The project offers apartments only. That single property type keeps the building straightforward for investors: consistent management, comparable units, and a focused tenant pool.
What 25 Amenities Signal About the Resident Profile
| Theme | Amenities |
|---|---|
| Wellness | Shared Spa, Shared Gym, Jacuzzi & Steam, Private Jacuzzi |
| Outdoor & Leisure | Shared Pool, Children's Pool, Children's Play Area, Barbecue Area, Private Garden |
| Family | Children Nursery, Pets Allowed |
| Unit Features | Fully Furnished, Built-in Wardrobes, Walk-in Closet, Kitchen Appliances, Maids Room, Central A/C, Balcony |
| Services | Concierge, Maid Service, Security, Covered Parking, Lobby in Building |
| Views | View of Water, View of Landmark |
Several items stand out. Fully furnished units reduce the gap between purchase and rental readiness. Private jacuzzi appears as a unit-level feature, not only a shared facility. The combination of maids room and maid service indicates the larger units are scaled for households with domestic staff. Children's nursery on-site is uncommon in canal-facing towers at this scale and points to families as a deliberate part of the target resident mix.
The amenity set positions Peninsula Phase 3 as a managed lifestyle product. This is not a building designed around minimal running costs. A buyer here is choosing full-service living, and that shapes both the likely tenant profile and the ongoing cost base.
A Project Past Its Completion Date
Peninsula Phase 3 broke ground in June 2022. The expected completion date was June 2025. That date is now past. Buyers entering now are dealing with a completed or near-completed building, not a multi-year off-plan investment.
Getting In for 5%
| Stage | Percentage |
|---|---|
| Down payment | 5% |
| During construction | 45% |
| Handover | 50% |
A 5% down payment is low by the standards of Dubai residential off-plan. It allows a buyer to secure a unit with a small initial cash commitment while the construction installments cover 45% across the build period. The critical figure is the 50% due at handover. Since the expected completion date has passed, that payment is either already active or imminent. No post-handover tranche exists, so the full purchase price settles at key handover.
