Select Group completes off-plan sales of Peninsula in Business Bay
Property Select Group completes off-plan sales of Peninsula in Business Bay
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Peninsula integrates residential, commercial, business, and lifestyle amenities into a waterfront destination
Select Group has announced the successful completion of off-plan sales of its master community development, Peninsula, located in Business Bay. This significant milestone marks investor confidence in both the development and Select Group. Peninsula, integrates residential, commercial, business, and lifestyle amenities into a waterfront destination. The total Gross Development Value (GDV) of the completed sales is a remarkable US $1.91bn, said a statement from the firm.
Peninsula boasts a diverse portfolio of 3,300 units across seven developments. Among these, the ultra-luxury Jumeirah Living Business Bay stands out as a 35-story tower crafted in collaboration with the esteemed Jumeirah Group. This structure offers 82 designed residences, spanning from 2,007 to over 12,000sqft. Beyond its living areas, the Jumeirah Living Business Bay provides a suite of amenities and services, ensuring the comfort and convenience for its residents. These amenities include concierge services, a dedicated guest relations team, on-site residential management, robust security measures, reliable housekeeping, valet services, and a welcoming residents' lounge.
Select Group is delighted to announce the commencement of the investor handover process earlier this year. The handover for Peninsula Five, The Signature Collection, has been successfully completed, Peninsula One is scheduled for handover in early July 2025, followed by Peninsula Two and Peninsula Three, both set for Q4 2025. Jumeirah Living Business Bay is planned for handover in Q1 2026, while Peninsula Four The Plaza is scheduled for handover in mid-2026.
The master waterfront community boasts retail space, including a mall, a Grade A office tower with leasable space, green areas, and sporting and family-friendly leisure amenities. All these features are integrated into a pedestrian-friendly design. The community's waterfront location and local community have attracted retail brands like Spinneys, Yas Healthcare, Freedom Pizza, and Half Cup. Many other retail and food & beverage brands are in discussions to join these established ones in the Peninsula community.
'The completion of sales of Peninsula is a proud milestone for Select Group and a testament to our unwavering commitment to creating exceptional, well-integrated communities,' says Israr Liaqat, Group CEO. 'Peninsula was designed to redefine waterfront living in the heart of Dubai, and the response from our investors and buyers affirms the strength of our vision and the trust placed in our brand'.
Located at the Peninsula community is also The Plaza, a standalone waterfront marketplace destined to become a culinary destination spanning over two floors, including a terrace with views of the Dubai Canal.
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