Dubai office sales soar to record $4.3bn as high-value deals triple in H1
Dubai office sales reached a record AED15.8bn ($4.3bn) in H1 2026 as transactions rose 38 per cent and demand for off-plan offices accelerated.
Dubai’s office property market recorded a record AED15.8bn ($4.3bn) in sales during the first half of 2026 as investor demand for premium and off-plan office space continued to strengthen, according to Cavendish Maxwell.
The report found that transaction values rose by almost 200 per cent year-on-year, while the number of office sales increased by more than 38 per cent to 2,600 transactions, driven by a surge in high-value purchases and sustained demand for commercial real estate.
According to Cavendish Maxwell’s latest Dubai Office Market Performance Report, the value of office sales during H1 2026 also exceeded the total recorded during the second half of 2025.
More than 220 office purchases worth over AED20m ($5.4m) were completed during the six-month period, compared with just 20 transactions in each half of last year.
The report said 95 per cent of the AED20m-plus transactions involved off-plan offices.
Dubai office sales
Overall, the market recorded:
- AED15.8bn ($4.3bn) in office sales
- 2,600 transactions, up more than 38 per cent year-on-year
- 65 per cent of transactions in the off-plan segment
- More than 220 sales above AED20m ($5.4m)
According to the report:
- Average off-plan office price reached AED8.3m ($2.26m), up 133 per cent from AED3.5m ($953,000) in H1 2025
- Average ready office prices increased by almost 14 per cent to AED3m ($817,000) from AED2.6m ($708,000)
Despite the record first-half performance, Cavendish Maxwell said market activity moderated during the second quarter.
Transaction volumes were almost 36 per cent lower than in the first quarter, while both office sales prices and rental rates eased slightly.
The consultancy said the slowdown mainly affected the ready office segment and reflected seasonal factors alongside regional uncertainty, which prompted some investors to adopt a more cautious approach.
Vidhi Shah, Director, Head of Commercial Valuation at Cavendish Maxwell, said: “Year-on-year indicators remained positive in H1 2026, but quarterly trends suggest a moderation in office market momentum. While the structural foundations of Dubai’s office real estate sector – including a diversified economy, strategic location and pro-business regulatory environment – remain very much intact, the market has entered H2 in a more uncertain environment.
“Performance in the coming months will increasingly depend on the geopolitical situation, the pace of future supply and the depth of occupier demand. If regional uncertainty continues, both new launch activity and buyer decision making could become more measured. Q3 data will provide a clearer indication of whether the Q2 moderation was a temporary response to external factors or the start of a broader adjustment in market activity.”
Business Bay becomes Dubai’s busiest office market
Business Bay recorded the highest number of office sales during the first half with 814 transactions, overtaking Al Sufouh 1, which recorded 498 sales.
The remaining top locations were:
- Jumeirah Lakes Towers: 333 sales
- Dubai Maritime City: 88 sales
- Barsha Heights: 82 sales
Average office sale prices reached AED2,012 ($548) per sq ft during H1 2026, up 15 per cent year-on-year, while average rents increased 14 per cent to AED189 ($51) per sq ft per annum.
The strongest rental growth was recorded in:
- Downtown Dubai: 17.5 per cent
- Barsha Heights: 17.2 per cent
- DIFC: 17.1 per cent
Cavendish Maxwell said a further 150,000 square metres is expected to be completed before the end of 2026, with 379,000 square metres planned for 2027 and 718,000 square metres for 2028.
Despite the development pipeline, the consultancy expects office supply to remain constrained through the rest of 2026 because construction delays could defer some planned projects.
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