Walid Al Zarooni:
- Office market boom reflects Dubai’s evolution into a global business and investment hub
- Limited supply and institutional demand are strengthening the investment appeal of commercial assets
- Commercial real estate has become one of Dubai’s strongest long-term income-generating asset classes.
Dubai, United Arab Emirates – Dubai’s commercial real estate market has entered a new phase of growth, driven by expanding international businesses, rising institutional demand, and the emirate’s increasing role as a regional headquarters for global companies, according to a new research report by W Capital Real Estate Brokerage.
The report said commercial property sales reached an all-time high during the first half of 2026, highlighting a structural shift in Dubai’s property market as demand increasingly reflects long-term economic expansion rather than short-term investment activity.
According to data from the Dubai Land Department (DLD), commercial property transactions totaled AED 19.5 billion across 3,415 deals during the first six months of the year, representing a 183% year-on-year increase in transaction value. Remarkably, sales during H1 2026 have already exceeded the entire commercial property sales recorded throughout 2025 by 7.7%, underscoring the exceptional momentum in the sector.
Commercial Real Estate Becomes an Economic Growth Indicator
W Capital said the record performance signals more than just strength in the property market. It reflects Dubai’s accelerating economic diversification, rising foreign investment, and the continued expansion of multinational corporations, financial institutions, technology firms, and professional services companies establishing or enlarging their regional operations in the emirate.
The average commercial transaction value nearly doubled from approximately AED 2.8 million in H1 2025 to AED 5.7 million in H1 2026, indicating stronger demand for premium office assets and strategically located commercial developments.
Office Market Dominates Commercial Activity
Office properties accounted for more than 81% of total commercial sales value, generating AED 15.8 billion through 2,569 transactions, while retail units recorded AED 3.7 billion from 846 transactions.
Off-plan offices led market activity, generating AED 13 billion through 1,668 transactions, compared to AED 2.7 billion for ready office space. Meanwhile, off-plan retail properties recorded AED 2.5 billion, with completed retail units contributing AED 1.1 billion.
The company believes the dominance of off-plan office assets reflects strong investor confidence in sustained future demand, as developers continue introducing high-quality commercial projects featuring modern design, sustainability standards, smart technologies, and flexible workspaces.
Business Bay Leads the Market
Business Bay remained Dubai’s leading office investment destination, recording 814 transactions worth AED 8 billion, accounting for more than half of the emirate’s total office sales value during the first half of the year.
It was followed by the Second Commercial Centre with AED 1.6 billion, TECOM Site A with AED 1.4 billion, Dubai Maritime City with AED 1 billion, and Jumeirah Lakes Towers (JLT) with AED 910 million.
W Capital noted that this geographic diversification demonstrates the maturity of Dubai’s commercial property market, with demand spreading across multiple business districts offering varying price points, office formats, and infrastructure to meet the needs of multinational corporations, SMEs, and entrepreneurs alike.
Institutional Demand Is Driving the Market
Commenting on the report, Walid Al Zarooni, Chairman of W Capital Real Estate Brokerage, said:
“What we are witnessing today is not a speculative cycle but a direct reflection of Dubai’s expanding economy. The record growth in commercial property sales is being driven by real business activity, increasing corporate presence, higher employment levels, and sustained international investment.”
He added:
“The fact that six months of sales have already exceeded an entire year’s performance clearly indicates that Dubai’s commercial real estate market has entered a new phase where institutional demand has become one of the primary drivers of long-term growth.”
Al Zarooni noted that the relocation and expansion of investment funds, global banks, financial institutions, credit rating agencies, and multinational companies demonstrate that Dubai has evolved beyond being a gateway to regional markets into a genuine global centre for managing operations, capital, and talent.
Limited Supply Supports Rental Growth
Al Zarooni also highlighted the limited availability of Grade-A office space as a key factor supporting rental growth and capital appreciation.
“The combination of robust corporate demand and constrained supply continues to strengthen market fundamentals. However, developers must carefully expand the pipeline of premium office projects to ensure supply keeps pace with the emirate’s long-term economic growth,” he said.
He stressed that future office developments should focus not only on increasing supply but also on delivering smart, sustainable, and flexible workplaces that meet the evolving requirements of global businesses.
Commercial Real Estate Reflects Dubai’s Economic Strength
According to W Capital, Dubai’s commercial property market has proven resilient despite ongoing geopolitical uncertainties and global economic pressures, highlighting the depth of genuine demand and the strength of the emirate’s business environment.
Al Zarooni explained that long-term corporate expansion strategies—including headquarters relocations, workforce growth, and operational expansion—have fundamentally changed the nature of demand compared with previous market cycles.
A Broader Economic Multiplier
He further noted that the growth of Dubai’s office market generates significant spillover benefits across the wider economy.
“When a company establishes a new office, it creates demand well beyond commercial real estate. Employees require housing, schools, retail, hospitality, transport, and professional services. Every new office therefore acts as a catalyst for broader urban economic growth.”
Today, more than 50,000 professionals work within the Dubai International Financial Centre (DIFC), illustrating how business clusters contribute directly to economic activity across multiple sectors.
Positive Outlook
Looking ahead, Al Zarooni expects Dubai’s commercial real estate market to maintain its strong momentum, supported by continued corporate expansion, sustained foreign investment, and growth across the financial, technology, and professional services sectors.
He concluded:
“Commercial real estate has become one of the clearest indicators of Dubai’s economic strength. Record sales are no longer simply measuring investor appetite for office assets—they reflect the growing number of businesses choosing Dubai as their long-term base for regional and global operations.”
About W Capital Real Estate Brokerage
Founded in 2007 in the United Arab Emirates, W Capital Real Estate Brokerage is licensed by the Dubai Department of Economy and Tourism and the Real Estate Regulatory Agency (RERA Dubai).
The company specializes in real estate development, buying, selling, and leasing properties, as well as providing real estate consultancy services. It is accredited by more than 100 real estate developers.
Since its establishment, the total value of properties marketed by the company for major developers has exceeded AED 1.5 billion.
About Walid Al Zarooni
Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage and a certified real estate expert accredited by Dubai’s Real Estate Regulatory Agency (RERA). He is also the author of “Secrets of the Smart Real Estate Investor.”
Al Zarooni is one of the pioneers in leveraging social media to educate real estate audiences, offering nearly daily free advice and insights on the sector through videos and real estate tips across platforms such as Instagram, Snapchat, and Twitter, which are his most active channels.
