Dubai office market Q3 2026: sales cool, buyers broaden
Dubai's office market had a quieter third quarter after a record first half. Transactions rose but the value of sales fell sharply, as smaller investors returned and fewer large off-plan deals went through. Here are the numbers, published by CRC Property on 13 October 2026.
The headline figures
| Measure | Q3 2026 | Change |
|---|---|---|
| Office transactions | 1,123 | Up 11.7% on Q2 |
| Office sales value | AED 4.35bn | Down 42% on Q2, up 40.4% year on year |
| Average ticket size | AED 3.87m | Lower, as smaller buyers returned |
| Average secondary office price | AED 1,930 per sq ft | Down 1.2% on Q2 |
What changed
The fall in value reflects a mix shift rather than a collapse. The first half of 2026 was dominated by a small number of very large off-plan launches, with Dubai recording AED 15.8 billion of office sales between January and June according to Cavendish Maxwell. In the third quarter more, smaller deals went through, which pulled the average ticket down to AED 3.87m.
Business Bay, which led Dubai with 814 office sales in the first half, was overtaken in the third quarter by Downtown Jebel Ali, which took nearly 30% of office transactions. Jumeirah Lakes Towers came third with 162 transactions, up 47.3%.
Secondary prices slipped 1.2%, a smaller fall than the 3.4% recorded in the second quarter. That fits the picture Savills described in July: a market moving from rapid growth to a more balanced phase, with rents flat in the second quarter for the first time since 2021.
What has not changed
- Year on year, office sales value is still up 40.4%.
- CBRE put Dubai office occupancy at around 94% in mid-2026, with prime rents up 16% year on year.
- Most new office supply lands from 2028 onwards, so Grade A space in the core districts stays scarce in the near term.
What it means for Berkeley Tower
A cooler quarter strengthens the buyer's hand on price and terms, and makes developer track record matter more. For a 2031 handover, the question is less about this quarter and more about whether Grade A demand in Business Bay holds through the end of the decade. Berkeley Tower is priced indicatively at AED 4,500 to 5,000 per sq ft, well above secondary office averages, which is typical for new Grade A stock but worth weighing. The prices and rents analysis sets out the yield arithmetic.
Sources
- Khaleej Times, Smaller investors return to market as Dubai office sales jump in Q3 (CRC Property, 13 October 2026)
- Khaleej Times, Dubai office sales nearly triple to Dh15.8 billion in H1 2026 (Cavendish Maxwell)
- Khaleej Times, Dubai office rents stabilise as demand for Grade A space stays strong (Savills, July 2026)
- Gulf News, Dubai rents ease 6.2% while home prices stay above 2025 levels (CBRE Q2 2026)
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