Dubai’s commercial property market posted one of its strongest months on record in October, with sales transactions rising 21.4% year-on-year to 1,274 deals valued at AED 12.3 billion — a 9.9% increase versus October 2024, according to Engel & Völkers Middle East, a leader in premium residential and commercial real estate services.
The momentum was led by the office sector, where transactions surged 64% in volume and 98% in value, reflecting sustained demand for Grade A offices in established business districts such as Business Bay and Jumeirah Lakes Towers.
Retail assets also saw remarkable growth, with sales volumes up 29% and the total value of sales doubling year-on-year, buoyed by the strength of Dubai’s consumer economy and the ongoing expansion of international brands.
But behind the figures lies a new phenomenon reshaping the skyline: the rise of off-plan commercial developments. Engel & Völkers’ data shows that off-plan office sales have exploded — from 69 in Q3 2024 to 389 in Q3 2025, a 464% increase. In October alone, 225 off-plan office transactions were recorded compared with just 33 a year ago.
Developments such as Lumena, Lumena Alta, AHS Tower, Samana Barari Avenue, 31 Above, and Aspirz Tower are spearheading this surge, attracting investors eager to participate in Dubai’s next generation of workplace environments — projects designed with sustainability, wellness, and digital infrastructure at their core.
“The off-plan office segment has become one of Dubai’s most dynamic investment stories this year,” said Alex Lourenço, Head of Commercial at Engel & Völkers Middle East. “With occupancy in existing Grade A buildings at near-record levels, investors are turning to new developments that match global standards for design and efficiency. The response has been extraordinary — we’re seeing strong pre-sales and unprecedented confidence in Dubai’s long-term commercial outlook.”
Occupancy rates in prime offices are consistently above 90%, leaving limited supply in established commercial districts and driving up both rental yields and capital values. Engel & Völkers expects this pressure to continue into 2026, particularly in mixed-use communities such as Business Bay, JLT, and Arjan, where developers are diversifying portfolios to include office and retail spaces alongside residential projects.
By comparison, the residential market is settling into a more mature phase after two years of exceptional growth. October recorded 18,530 sales transactions, a modest adjustment from 2024’s record highs. Off-plan accounted for 68.3% of activity, while secondary transactions grew 14.4% month-on-month, showing renewed appetite for ready homes.
Apartments dominated at 85.8% of sales, supported by accessible pricing and average gross rental yields of 6.8%. Prices across key apartment communities have risen 5–10% year-on-year, while many villa communities have achieved 10–20% growth, reinforcing Dubai’s resilience and sustained investment appeal.
Looking ahead, Engel & Völkers Middle East forecasts continued momentum in commercial real estate into 2026, driven by a combination of limited prime supply, rising corporate demand, and the city’s ongoing transformation into a global headquarters destination.
The surge in off-plan office projects marks the start of a new chapter — one where Dubai’s commercial property sector evolves from stable performer to strategic growth engine in the region’s economic landscape.
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About Engel & Völkers: Engel & Völkers is one of the world’s leading service companies specialized in the brokerage of premium residential property, commercial real estate, yachts and aircrafts. For over 45 years now, the wishes and needs of private and institutional clients have had top priority, giving rise to the ongoing development of a range of services relating to all aspects of real estate. Sales and leaseholds, as well as consultancy for various investment opportunities in the real estate segment are among the core competencies of more than 16,700 people operating under the Engel & Völkers brand. The company is currently operating in over 35 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the company’s success. Engel & Völkers develops digital tools and IT products on an ongoing basis in order to keep its service as efficient as possible. In doing so, the company is setting new standards in digital solutions for property brokerage. www.engelvoelkers.com
About Engel & Völkers Middle East: Established in 2014, Engel & Völkers Middle East has its offices in Dubai, United Arab Emirates. The team consists of over 200 trusted agents, each focusing on premium residential and commercial properties, serving as experts in their respective areas. The company recently established a separate entity for commercial real estate (Engel & Völkers Commercial Middle East). Engel & Völkers Commercial serves as an entry point to exceptional commercial real estate opportunities in Dubai, from attractive office spaces to industrial complexes. The Private Office provides services for affluent clients and has access to premium real estate globally. Whether you’re in the market to rent, buy, or sell a property, Engel & Völkers Middle East is a perfect choice to achieve your real estate goals. www.engelvoelkers.com/ae/en
