Report
Commercial Sales Overview (Offices + Shops)
2022
Commercial Sales Overview
Total Transaction Value
Value
2541 (Primary Developer under construction) 19.5Bn
1567 (Secondary Ready units transacted) 14.6M
1342 (Secondary under construction transactions) 10.8M
Year-on-Year Market Evolution
2016–2020
2021
2022
Dubai Commercial Total Transaction Value (2019 – 2026)
Top 5 developers share of Dubai Commercial transaction value
Top Developers by Commercial Sales Value (2019)
| DEVELOPER | PRIMARY (AED – BN) | SECONDARY – OFF PLAN (AED – BN) | SECONDARY – READY (AED – BN) | TOTAL TRANSACTION VALUE (AED Bn) | % OF TOTAL MARKET SHARE |
|---|---|---|---|---|---|
| Al SAQR DEVELOPERS | 23.6 | 67.9 | 56.9 | 148.4 | 330.51 |
| Al Seeb Real Estate Development LLC | 89.7 | 56.02 | - | 145.72 | 324.54 |
| Arada Developments LLC | - | - | - | - | - |
Commercial value is meaningfully concentrated, but not crowded.
The top five developers collectively account for ~36% of total commercial
The top five developers collectively account for ~36% of total commercial
The top five developers collectively account for ~36% of total commercial
The top five developers collectively account for ~36% of total commercial
Price based segmentation
Dubai Commercial Market 2022 – Volume by Price Segment
| PRICE BAND (AED) | PRIMARY (BN) | SECONDARY – OFF PLAN (BN) | SECONDARY – READY (BN) | TOTAL (BN) | SHARE (%) |
|---|---|---|---|---|---|
| Below 1M | 1.23 | - | - | 1.23 | 0.5 |
| 1–2M | 2.78 | - | - | 2.78 | 1.1 |
| 2–5M | 17,9 | - | - | 179 | 71.4 |
| 5–12M | 2.56 | - | - | 2.56 | 1 |
| 12–20M | 8.97 | - | - | 8.97 | 3.6 |
| 20M+ | 56.3 | - | - | 56.3 | 22.4 |
Upper mid-market is the dominant liquidity engine
Upper mid-market is the dominant liquidity engine
Upper mid-market is the dominant liquidity engine
Upper mid-market is the dominant liquidity engine
Upper mid-market is the dominant liquidity engine
2021 VS 2022
Year – on – Year Comparison vs 2022 ( Commercial Market )
| METRIC | 2021 | 2022 | CHANGE (%) |
|---|---|---|---|
| Total Transactions | 3456 | 5978 | +73% |
| Total Sales Value (AED Bn) | 2678 | 3127 | +16.8% |
| Avg Price per Sqft (AED) | 1097 | 6 | -99.5% |
| Value of Off-plan Transactions (AED Bn) | 9033 | 1945 | -78.5% |
| Value of Ready Transactions (AED Bn) | 1234 | 1908 | +54.6% |
Value growth far outpaces volume:
Transaction count rose +42.3% YoY,
Transaction count rose +42.3% YoY,
Transaction count rose +42.3% YoY,
Transaction count rose +42.3% YoY,
Key Inferences & Conclusions
Commercial has decisively become a value-led market:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Ready assets continue to anchor market credibility:
Sources: Public government data (Dubai Pulse) & Licensed market data (REIDIN)
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