Offices · Business Bay · September 2026
Business Bay offices: two markets, one headline number
Office sales, leasing and supply in Dubai's busiest commercial district, built from registered DLD and Ejari data for the 12 months to 25 September 2026, with the launch wave separated from the ready market.
- Commercial sales
- 1,680
- 12 months to Sept 2026
- Ready resale
- AED 2,080
- Median per sq ft
- Achieved new-lease rent
- AED 153
- Per sq ft, Sept 2026
- Under construction
- 3,544
- Commercial units in the pipeline
Eight things worth knowing
- The headline is a launch waveCommercial sales rose 20% to 1,680 and the median nearly doubled to AED 3,400 per sq ft. Split out, off-plan sold 799 units at about AED 4,730 while ready resale sold 881 at AED 2,080.
- Ready offices: fewer deals, higher pricesResale volume fell 28% while the median price per sq ft rose 24%. Owners are holding, and those who sell are achieving more.
- The launch wave is fadingQuarterly price per sq ft ran from AED 2,990 in Q1 2026 to AED 4,690 in Q2 as the largest launches registered, then fell back to AED 2,800 in Q3, with volume down 34% over the last three months.
- Rents are flat like for likeNew-lease medians rose 3%, but 800 to 1,200 sq ft units fell 8% and 1,200 to 2,000 sq ft were flat. Only units over 2,000 sq ft rose, by 10%.
- Renewals are outpacing new leasesRenewals rose 12% against 3% for new lettings. In the 800 to 1,200 sq ft band, renewing now costs more than moving.
- Small units earn the most per sq ftSeptember lettings under 800 sq ft achieved a median AED 160 per sq ft, against AED 118 for units above 2,000 sq ft.
- Floors are selling unit by unitOne floor in The Court sold in six registrations for AED 35.0M. Vision Tower traded 15 floor-sized units worth AED 326M in the year.
- Around 500 new office landlords by 2029HQ by Rove and Burj Capital have sold roughly 500 units between them, handing over in 2028 and 2029. Most buyers are investors who will need tenants.
Two markets, one number
| Segment, 12 months | Sales | Volume | Median price | AED/sq ft | Change |
|---|---|---|---|---|---|
| All commercial | 1,680 | +20% | AED 3.16M | 3,400 | +94% |
| Ready resale | 881 | −28% | AED 2.25M | 2,080 | +24% |
| Off-plan and primary | 799 | +341% | AED 4.06M | 4,730 | +34% |
Five projects account for 729 of the 799 primary sales: HQ by Rove (328 sales, AED 4,675 per sq ft), Burj Capital (144, AED 3,661), Lumena Alta by Omniyat (143, AED 6,121), Lumena by Omniyat (95, AED 5,868) and Enara by Omniyat (19, AED 6,510). None of that is evidence for a 1,200 sq ft unit in an established tower.
Ready resale by unit size
| Size band | Sales | Volume | Median price | AED/sq ft | Change |
|---|---|---|---|---|---|
| Up to 1,100 sq ft | 435 | −34% | AED 1.55M | 2,040 | +19% |
| 1,100 to 2,200 sq ft | 328 | −29% | AED 2.95M | 2,010 | +29% |
| 2,200 sq ft and up | 118 | +11% | AED 8.00M | 2,510 | +6% |
Small and mid-size units sell at almost the same rate per sq ft. Large units carry a premium of about 23% and are the only band where volume grew. A building's median is a fair anchor for most units: adjust for fit-out and floor, not for size.
Ready office towers ranked
| Tower | Sales | AED/sq ft | Change | Median sale | Yield |
|---|---|---|---|---|---|
| The Opus | 12 | 5,550 | +27% | AED 17.30M | 5.5% |
| The Binary | 35 | 3,520 | +18% | AED 3.10M | 5.5% |
| Vision Tower | 15 | 3,150 | +20% | AED 18.10M | 3.4% |
| Bay Square 8 | 24 | 3,140 | +120% | AED 4.99M | 7.7% |
| Bay Square 12 | 20 | 2,750 | +5% | AED 4.36M | 6.7% |
| Burlington Tower | 44 | 2,450 | +17% | AED 1.42M | 9.7% |
| B2B Tower | 27 | 2,380 | +15% | AED 1.37M | 7.3% |
| Westburry Tower 1 | 20 | 2,130 | +26% | AED 2.47M | 6.3% |
| Tamani Arts Offices | 62 | 2,100 | +9% | AED 0.83M | 8.2% |
| Park Lane Tower | 30 | 2,030 | +19% | AED 0.94M | 8.5% |
| Citadel Tower | 19 | 2,020 | +15% | AED 1.80M | 7.6% |
| Aspect Tower | 12 | 2,000 | +7% | AED 3.00M | 7.9% |
| The Court | 28 | 1,980 | +20% | AED 4.78M | 9.5% |
| Bayswater Bay | 31 | 1,940 | +14% | AED 2.00M | 7.0% |
| Regal Tower | 36 | 1,890 | +28% | AED 2.48M | 6.4% |
| Churchill Executive | 51 | 1,850 | +10% | AED 1.55M | 7.7% |
| The Metropolis | 19 | 1,840 | +20% | AED 1.44M | 8.0% |
| The Prism | 16 | 1,820 | +16% | AED 2.10M | 6.7% |
| XL Tower | 11 | 1,820 | +39% | AED 1.50M | 8.3% |
| Iris Bay | 40 | 1,790 | +21% | AED 2.56M | 6.9% |
| Clover Bay | 21 | 1,780 | +18% | AED 1.75M | 8.0% |
| Empire Heights A | 21 | 1,670 | +33% | AED 2.58M | 8.5% |
| Damac Business Tower | 20 | 1,380 | +5% | AED 1.48M | 7.6% |
| Ontario Tower | 20 | 1,360 | +15% | AED 2.31M | 6.5% |
Every ready office tower with at least eleven commercial sales in the last twelve months. Yield is median annual rent divided by median sale price for each tower; the two medians come from different units, so treat it as a ranking, not a return.
Registered and achieved rents
| Size band | New leases | Median | Change | Renewals | Median | Change |
|---|---|---|---|---|---|---|
| 800 to 1,200 sq ft | 395 | AED 100,000 | −8% | 597 | AED 114,100 | +15% |
| 1,200 to 2,000 sq ft | 1,788 | AED 135,000 | 0% | 1,819 | AED 132,800 | +6% |
| Over 2,000 sq ft | 1,863 | AED 220,000 | +10% | 912 | AED 180,400 | +3% |
4,705 new leases in 12 months (median AED 138,500) and 4,093 renewals (median AED 121,300).
| Tower (contracts) | Achieved AED per sq ft |
|---|---|
| Burlington Tower (2) | 218 |
| The Binary (5) | 213 |
| Citadel Tower (2) | 183 |
| Westburry Tower 1 (7) | 168 |
| Tamani Arts Offices (17) | 163 |
| Aspect Tower (2) | 163 |
| Park Lane Tower (7) | 157 |
| Al Manara (3) | 150 |
| Churchill Executive (5) | 139 |
| XL Tower (3) | 123 |
| Damac Business Tower (2) | 121 |
| The Metropolis (2) | 121 |
| The Prism (3) | 119 |
| Bayswater Bay (2) | 119 |
Median of 86 new Ejari office contracts starting 21 September 2026 onward. Excludes hotel apartments, podium units over 4,000 sq ft and lets below AED 45 per sq ft.
What lands, and when
| Project | Developer | Units | Sold | AED/sq ft | Handover |
|---|---|---|---|---|---|
| Binghatti podiums | Binghatti | c.70 | Mostly | 3,900–4,860 | Q4 2026 |
| Enara by Omniyat | Omniyat | 50 | 34 | 6,510 | Dec 2027 |
| Burj Capital | Royal Centurion | 347 | 172 | 3,660 | Dec 2028 |
| HQ by Rove | Irth | 414 | 327 | 4,670 | Mar 2029 |
| Lumena by Omniyat | Omniyat | 134 | 94 | 5,870 | Dec 2029 |
| Lumena Alta by Omniyat | Omniyat | 186 | 143 | 6,120 | Apr 2031 |
21 projects and 3,544 commercial units under construction. Construction progress on several projects was below 10% at the date of the report, so handover dates may move.
HQ by Rove and Burj Capital were sold largely to individual investors, so each unit becomes a separate landlord looking for a tenant at roughly the same time. For existing owners that means more competing supply at handover; for occupiers with flexibility from 2029, it means choice.
Business Bay against JLT
| Measure | Business Bay | JLT | Gap |
|---|---|---|---|
| Ready resale median, AED/sq ft | 2,080 | 1,650 | +26% |
| Ready resale median price | AED 2.25M | AED 1.98M | +14% |
| Resale volume, 12 months | 881 | 772 | +14% |
| Achieved new-lease rent, AED/sq ft | 153 | 126 | +21% |
| Indicative gross yield, medians | c.5.8% | c.6.5% | −0.7 pts |
Business Bay costs about a quarter more per sq ft than JLT on ready stock and achieves about a fifth more rent. Yields are close, with a modest edge to JLT. Choose between the two on occupier profile, access and building quality, not on a price gap that largely disappears on like-for-like stock.
What this means
- Owners: price off resale, not the headlineThe ready median is AED 2,080 per sq ft. Your tower's own registered sales are the benchmark buyers will use. Where a tower has high listings and few sales, a well-priced letting delivers income now and a stronger sale later.
- Occupiers: test the market before renewingRenewals are rising faster than new lettings, and in some bands moving is now cheaper than staying. Achieved rents in the same tower vary by up to 90% on specification, so budget on the fit-out you need.
- Investors: compare like with likeAgainst JLT, Business Bay ready stock costs about 26% more per sq ft and achieves about 21% more rent. The yield gap is small.
Sources: DXB Interact: DLD sale transactions, market summaries, building statistics, Ejari tenancy contracts, off-plan absorption and handovers, and broker transaction records (12 months to 25 September 2026); Savills Dubai Office Market Q2 2026; JLL UAE Office Market Dynamics Q2 2026. Market commentary, not a valuation or investment advice. Looking for office space? See what I cover.