Dubai's commercial market hits Dhs12.3b

Dubai's commercial property market posted one of its strongest months on record in October, with sales transactions rising 21.4% year-on-year to 1,274 deals valued at Dhs12.3 billion — a 9.9% increase versus October 2024, according to Engel & Völkers Middle East, a leader in premium residential and commercial real estate services.

- Staff Reporter, Gulf Today

The momentum was led by the office sector, where transactions surged 64% in volume and 98% in value, reflecting sustained demand for Grade A offices in established business districts such as Business Bay and Jumeirah Lakes Towers.

Retail assets also saw remarkable growth, with sales volumes up 29% and the total value of sales doubling year-on-year, buoyed by the strength of Dubai's consumer economy and the ongoing expansion of international brands.