Dubai office property in great demand

Downtown Dubai neighborhood topped the list of the largest Q2 transactions in the Dubai office property market.

There is still rather high buyers’ activity in the field of Dubai’s commercial real estate. And offices in Downtown Dubai are of the greatest demand among businessmen — 6 of 10 largest sales transactions were recorded in this Dubai district.

The largest transaction in the office property market registered by Dubai Land Department in the second quarter was the sale of an office situated in the Control Tower in Business Park Motor City for US $ 5,23 million. The second line of the list also ranked the sale of an office worth US $ 4,8 million in Control Tower.

Third place in the list of the most expensive office property in Dubai was taken by an office in the Vision Tower in Business Bay, sold for US $ 4,63 million.

Another office building popular among high-quality commercial property connoisseurs was Boulevard Plaza Tower 1 in Downtown Dubai. As many as five major transactions involving offices sales were registered there in the second quarter of the year — three of them took the fourth, fifth and sixth places in the top ten list of the most expensive offices in Dubai due to the amount of US $ 3,43 million paid for the first one, and two identical amounts of US $ 3,06 million paid for the other two offices. Another two offices in the same tower sold for US $ 2,76 million and US $ 2,70 million, respectively, took the eighth and ninth places in the list.

And finally, the second twin of the two twin towers, Boulevard Plaza Tower 2, closes the list of the largest transactions for Dubai Q 2 offices sales: one more office was sold there for as much as US $ 2,54 million.

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