Dubai’s office market generated AED15.8 billion in sales during the first half of 2026, a year-on-year increase of almost 200 per cent and double the total recorded in H2 2025, according to a new market performance report from Cavendish Maxwell.
Transaction volumes also rose, with 2,600 deals completed between January and June, up more than 38 per cent on the same period last year. Off-plan deals accounted for 65 per cent of activity. The value surge was concentrated at the top end: more than 220 transactions were for offices priced above AED20 million, compared to just 20 in each half of 2025. Of those high-value deals, 95 per cent were off-plan.
Average off-plan prices reflected the shift toward larger, pricier stock. Buyers paid an average of AED8.3 million per off-plan office in H1, up 133 per cent from AED3.5 million a year earlier. Ready office prices rose a more modest 14 per cent to AED3 million.
Business Bay led all submarkets with 814 combined transactions, overtaking Al Sufouh 1, which had topped the Q1 rankings but slipped to second with 498 sales.
Jumeirah Lakes Towers, Dubai Maritime City, and Barsha Heights rounded out the top five, together accounting for more than 70 per cent of total transactions. The strongest rental growth was recorded in Downtown Dubai (17.5 per cent), Barsha Heights (17.2 per cent), and DIFC (17.1 per cent).
On a year-on-year basis, sales prices rose 15 per cent to AED2,012 per sq ft, while rents climbed 14 per cent to an average of AED189 per sq ft per annum. But both metrics softened quarter-on-quarter, with Q2 seeing fewer transactions, longer deal timelines, and some sellers reducing asking prices to close deals.
“Year-on-year indicators remained positive in H1 2026, but quarterly trends suggest a moderation in office market momentum. While the structural foundations of Dubai’s office real estate sector – including a diversified economy, strategic location and pro- business regulatory environment – remain very much intact, the market has entered H2 in a more uncertain environment. “Performance in the coming months will increasingly depend on the geopolitical situation, the pace of future supply and the depth of occupier demand. If regional uncertainty continues, both new launch activity and buyer decision making could become more measured. Q3 data will provide a clearer indication of whether the Q2 moderation was a temporary response to external factors or the start of a broader adjustment in market activity,” Vidhi Shah, Director, Head of Commercial Valuation at Cavendish Maxwell said in a statement.
Around 92,300 square metres of new space was delivered in H1, bringing total Dubai office stock to 9.46 million square metres. A further 150,000 square metres is expected by year-end, with 379,000 square metres in the pipeline for 2027 and 718,000 square metres planned for 2028, by which point total inventory is projected to reach 10.7 million square metres.
Cavendish Maxwell expects near-term supply to remain constrained, noting that construction delays are likely to push some planned completions into later periods.
In the off-plan segment, half of all deals were for units below 1,000 sq ft, though H1 also saw growing demand for larger units above 2,000 sq ft. The ready market was dominated by mid-size offices between 1,000 and 2,000 sq ft, which accounted for 53% of sales.
