Report
Commercial Property
2021
Commercial Sales Overview
Total Transaction Value
Value
12450 (Primary Developer under construction) 87000
4180 (Secondary Ready units transacted) 31000
8320 (Secondary under construction transactions) 54000
Year-on-Year Market Evolution
Recovery takes hold
Offices lead the rebound
Retail stabilises
Yields compress
Outlook stays positive
Dubai Commercial Total Transaction Value (2017 – 2026)
Top 5 developers share of Dubai Commercial transaction value
Top Developers by Commercial Sales Value (2021)
| DEVELOPER | PRIMARY (AED – BN) | SECONDARY – OFF PLAN (AED – BN) | SECONDARY – READY (AED – BN) | TOTAL TRANSACTION VALUE (AED Bn) | % OF TOTAL MARKET SHARE |
|---|---|---|---|---|---|
| Damac | 3.1 | 0.9 | 0.7 | 4.7 | 0 |
| AZIZI DEVELOPMENTS LLC | 2.8 | 0.7 | 0.6 | 4.1 | 0 |
| IMTIAZ DEVELOPERS | 2.2 | 0.6 | 0.5 | 3.3 | 0 |
| Tiger Group | 1.9 | 0.5 | 0.4 | 2.8 | 0 |
Emaar leads prime commercial
DAMAC drives off-plan offices
Azizi scales mid-market retail
Nakheel anchors waterfront trade
Tiger Group gains value share
Price based segmentation
Dubai Commercial Market 2021 – Volume by Price Segment
| PRICE BAND (AED) | PRIMARY (BN) | SECONDARY – OFF PLAN (BN) | SECONDARY – READY (BN) | TOTAL (BN) | SHARE (%) |
|---|---|---|---|---|---|
| Below 1M | 6.4 | 1.2 | 1.0 | 8.6 | 36.8 |
| 1–2M | 4.8 | 0.9 | 0.8 | 6.5 | 27.8 |
| 2–5M | 3.2 | 0.6 | 0.5 | 4.3 | 18.4 |
| 5–12M | 1.5 | 0.3 | 0.3 | 2.1 | 9 |
| 12–20M | 0.8 | 0.2 | 0.2 | 1.2 | 5.1 |
| 20M+ | 0.5 | 0.1 | 0.1 | 0.7 | 3 |
Sub-AED 1M tickets dominate
AED 1-2M sweet spot widens
Premium offices reprice
Grade-A commands premium
2020 VS 2021
Year – on – Year Comparison vs 2021 ( Commercial Market )
| METRIC | 2020 | 2021 | CHANGE (%) |
|---|---|---|---|
| Total Transactions | 18950 | 24930 | +31.6% |
| Total Sales Value (AED Bn) | 12.4 | 17.2 | +38.7% |
| Avg Price per Sqft (AED) | AED 655,000 | AED 690,000 | +5.3% |
| Value of Off-plan Transactions (AED Bn) | 68 | 81 | +19.1% |
| Value of Ready Transactions (AED Bn) | 72 | 86 | +19.4% |
Transactions jump a third
Values outpace volumes
Average ticket firms up
Off-plan share recovers
Ready deals stay liquid
Key Inferences & Conclusions
Offices anchor the recovery
Yields compress on demand
Off-plan liquidity returns
Sources: Public government data (Dubai Pulse) & Licensed market data (REIDIN)
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