Iris Bay is an oval, crescent-shaped commercial tower on Happiness Street in Business Bay, developed by Sheth Estate International. This page covers its commercial office units only: what is on offer, what offices are asking, what they cost to own and what to check before you buy or rent.
Overview
Wikipedia mentions 32 floors in its text and 36 in its infobox, against 35 on C&W and Bayut.
Offices in Iris Bay
About 387,000 sq ft of office and retail space, available shell and core and fitted.
Parking
920 spaces allocated by unit size. There is no visitor parking.
Lifts
Six lifts.
Amenities
Pool, podium garden and a gym on the 14th floor.
Browse current offices for rent or read our guide to buying an office in Dubai.
Office prices and rents
| Sale, asking | 5,000,000 for a 1,557 sq ft fitted office, about AED 3,211 per sq ft (calculated). Cushman & Wakefield guide |
|---|---|
| Sale, range | Shell and core AED 750k (1,100 sq ft) to AED 1.2M (1,830 sq ft). Bayut, undated |
| Rent, asking | 165,000 for a 1,294 sq ft fitted and partitioned office, about AED 127 per sq ft (calculated). The rent period is not stated. Cushman & Wakefield guide |
| Rent, range | Fitted AED 93k (1,200 sq ft) to AED 231k (2,500 sq ft). Bayut, undated |
Asking prices and rents are not transactions. They vary with size, floor, view and fit-out, and the sources were published at different dates. Where a source does not state the date or the rent period, the figure is shown as published.
Office Service Charges & Ownership Costs
This section covers Iris Bay service charges for commercial office units only: the office service charge per sq ft, annual maintenance fees and the wider cost of owning an office in Iris Bay.
Dubai Land Department publishes approved service charges by project, use and year in the RERA Service Charge Index (Mollak). The index sits behind a login, and we have not confirmed the Iris Bay office rate from it, from an owners’ association statement or from a verified invoice.
| Latest verified annual office service charge | Not independently verified. |
|---|---|
| Published figure (not verified by us) | AED 14.56 per sq ft, shown on Bayut citing DLD. It includes a negative adjustment of AED 4.24, and the year is not stated. |
| Previous years and percentage changes | Not available. |
| Estimated service charge per sq ft | AED 14.56 per sq ft per year. This is an estimate based on the published figure above. Not independently verified. |
| What the charge includes | Not verified. Ask the seller or landlord for the owners’ association statement for the exact unit. |
| Cooling or chiller charges | Bayut shows DEWA and district cooling within a utilities line of AED 8.25 per sq ft. |
| Separately billed expenses | Not verified. Ask whether parking, cooling consumption, utilities or insurance are billed on top of the service charge. |
| VAT treatment | Not verified for service charges. Ask the seller to show the latest invoice, with VAT shown separately. |
Units in the same building do not necessarily carry the same charge, and the chargeable area can differ from the advertised size. Before you commit, ask for the latest Mollak statement or invoice for the specific unit and check that the building, the year, the office category and the area basis all match.
Building and design
| Completed | 2015 |
|---|---|
| Storeys | 35 |
| Height | 170 m |
| Developer | Sheth Estate International Limited |
| Architect | WS Atkins |
| Design | Oval crescent |
Location
| Address | Happiness Street (D86), Business Bay |
|---|---|
| Business Bay Metro | About 12 minutes on foot (Bayut) |
| Neighbours | The Exchange, Regal Tower, The Prism and Park Lane Tower |
Why consider it, and what to check
In its favour
- Small units from 210 sq ft
- Pool and gym in the building
- Distinctive oval design
Check before you commit
- The verified office service charge
- No visitor parking, so check how clients will arrive
- The 12-minute walk to the metro for your staff
Frequently asked questions
What is Iris Bay?
Iris Bay is a 35-storey commercial tower on Happiness Street in Business Bay, completed in 2015.
Where is Iris Bay located?
On Happiness Street (D86) in Business Bay, about a 12-minute walk from Business Bay Metro.
What is the service charge for an office in Iris Bay?
The current office service charge for Iris Bay is not independently verified. A published figure of AED 14.56 per sq ft exists, but we have not confirmed it as an approved rate or invoice. See the service charges section above and ask for the latest statement or invoice for the exact unit.
How do service charges affect the rental yield of an office in Iris Bay?
An owner who bears the service charge deducts it from rental income, so net yield is lower than gross yield. If the lease makes the tenant pay it separately, it is not deducted from the owner’s income.
Sources
Facts on this page come from the sources below, checked October 2026. Where sources disagree, the page says so.
Looking at an office in Iris Bay?
Mazen Alzoubi specializes in commercial offices: rentals, sales and off-plan sales in Downtown Dubai, Business Bay and across Dubai, helping clients secure high-performing assets at the best terms. Ask Mazen Alzoubi, eXp Realty Dubai (RERA BRN 76380), about availability, layouts and viewings.
Call +971 50 438 0503WhatsApp MazenContact usWork out the full cost first with our Dubai office budget calculator or compare other commercial office towers.