Dubai's office market generated AED 15.8 billion in sales during the first half of 2026, a near-200% year-on-year surge and double the value recorded in H2 2025, according to Cavendish Maxwell.
Transaction volumes climbed 38% to 2,600 deals, with off-plan accounting for 65% of activity. High-value purchases above AED 20 million exceeded 220 – up from just 20 across all of last year – with 95% of those transacted off-plan.
Average off-plan office prices surged 133% to AED 8.3 million, while ready office prices rose 14% to AED 3 million. Business Bay led all submarkets with 814 transactions, followed by Al Sufouh 1 and Jumeirah Lakes Towers. Sales prices averaged AED 2,012 per sq ft, up 15% annually, with rents at AED 189 per sq ft. Despite the strong H1 performance, Q2 saw a 36% sequential dip in transactions, prompting Cavendish Maxwell to flag geopolitical uncertainty and supply pace as key variables for the remainder of 2026.
Gulf Economist Staff Writer