There is a surge in demand for premium office spaces in the UAE by companies returning to in-person work and international firms looking to establish their presence in the region. A significant trend toward shorter, flexible lease terms is observed as businesses seek high-quality, well-located offices. Recent sale at The Opus in Business Bay designed by renowned architect Zaha Hadid for 2,879-sq ft office was made at AED7,040 ($1,917) per sq ft, the highest recorded by the Dubai Land Department.

It is observed that the companies are prioritizing flexible, fully serviced offices that support hybrid work models and collaborations. Prime locations in Business Bay, Downtown Dubai, and DIFC are in demand, increasing occupancy rates from 90.1% in Q1 2023 to 91.3% in Q1 2024, as reported by CBRE.

The market is also witnessing a preference for office spaces equipped with advanced technology and sustainable features which is driving competitive bidding for Grade A spaces. Supported by strong economic fundamentals and initiatives like the Dubai 2040 Urban Master Plan, Dubai’s commercial property market is set for continued growth in coming year.

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