Business Bay office prices and rents in 2026
Business Bay was Dubai's busiest office market in the first half of 2026, with 814 sales, more than any other district. Prices and rents both rose over the year, though both levelled off in the second quarter. Here is where the numbers stand, and what they mean for yield.
Sales: Business Bay leads Dubai
Dubai recorded AED 15.8 billion of office sales in the first half of 2026, almost three times the figure a year earlier, according to Cavendish Maxwell. Business Bay moved into first place with 814 combined off-plan and ready sales, ahead of Al Sufouh 1.
The growth has been driven by off-plan launches. Between January and mid-May, Business Bay recorded AED 5.74 billion of off-plan office sales against AED 880 million of ready sales, and the district accounted for more than 42% of Dubai's commercial sales value.
Price per sq ft
| Measure | Price (AED per sq ft) | Period |
|---|---|---|
| Dubai average office sale price | 2,012 | H1 2026, up 15% year on year |
| Business Bay ready offices, average | 2,517 | Jan to May 2026, up from 2,163 |
| Dubai off-plan offices, weighted average | 4,349 | Jan to May 2026, up from 2,388 |
| Downtown Dubai offices, average | 5,130 | 2025, up 29% |
The gap between ready and off-plan prices is the most important number for buyers. New Grade A towers with modern specifications are selling at well above the price of older ready stock, and that premium is what a buyer pays for 2030s-standard space.
Rents
Average Dubai office rents reached AED 189 per sq ft a year in the first half of 2026, up 14%, according to Cavendish Maxwell. Savills put the citywide average at AED 238 per sq ft in the second quarter, the first quarter without rental growth since the first half of 2021. The two figures differ because each consultancy measures a different mix of buildings.
Asking rents for good space in Business Bay sit higher than the citywide average. In October 2026, JLL was marketing Grade A shell-and-core space at Magnum Opus Bay from AED 275 per sq ft and fitted space there from AED 375, and a fitted floor in Regal Tower at AED 260 per sq ft.
What it means for yield
Gross yield is simply annual rent divided by the purchase price. That makes the launch price the deciding number:
| Purchase price (AED per sq ft) | At AED 200 rent | At AED 250 rent | At AED 300 rent |
|---|---|---|---|
| 2,500 | 8.0% | 10.0% | 12.0% |
| 3,500 | 5.7% | 7.1% | 8.6% |
| 4,350 | 4.6% | 5.7% | 6.9% |
| 4,750 | 4.2% | 5.3% | 6.3% |
These are illustrations, not forecasts. Net yield is lower after service charges, vacancy and letting costs, and rents in 2031 may be higher or lower than today. Indicative pricing for Ellington's Business Bay office tower is AED 4,500 to 5,000 per sq ft. At that level, a gross yield of 6% to 8% needs rents of roughly AED 270 to 400 per sq ft, the upper end of today's Business Bay asking rents, which is where new Grade A buildings usually let.
The balanced view
Both sale prices and rents eased slightly between the first and second quarters of 2026, and most of the sales growth has been concentrated in a handful of large off-plan launches. The case for Business Bay offices rests on the longer-term shortage of Grade A space, covered in Dubai office supply to 2030, rather than on the pace of the last 12 months continuing.
Sources
- Khaleej Times, Dubai office sales nearly triple to Dh15.8 billion in H1 2026 (Cavendish Maxwell)
- Gulf Business, Dubai real estate has a bright spot: office demand is soaring (May 2026)
- Khaleej Times, Dubai office rents stabilise as demand for Grade A space stays strong (Savills, July 2026)
- Khaleej Times, Dubai office prices jump 29% as investors chase prime assets (Knight Frank)
- JLL listing, Magnum Opus Bay, Business Bay (office to rent)
- JLL listing, Regal Tower, Business Bay (office to rent)
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