Monday, April 07, 2014

Vision tower at Business Bay top office deals in Dubai

Business Bay has topped the list of top 10 biggest office deals completed during the first quarter of 2014 in Dubai, with Dh 15mn transaction in Vision Tower in Business Bay.

The information provided by Reidin.com reveals that Business Bay and Jumeirah Lakes Towers (JLT) each shared the honour of registering the four biggest transactions of top 10 deals with Tecom C registering two transactions.

A 10,195 sq. ft. office located in Vision Tower topped the list with a Dh.15mn deal, followed by sale of a 6,091 sq. ft unit in the same tower for Dh.8.67mn, taking the second spot.

The third place was for Almas Tower at JLT, spanning 3,314 sq. ft. being sold for Dh.7.17mn.
iRise Tower in Tecom C witnessed fourth and fifth largest transactions with units sold for Dh.6.80mn and Dh.6.35 mn respectively.

An office unit that covers 5,778 sq. ft. in JLT was sixth on the list with Dh.5.70million transaction value, while the Plaza Boutique at Business Bay stood seventh with sale value of Dh.5.15mn.

This was followed by Executive Towers and Towers D at Business Bay, and Almas Tower in JLT being sold at Dh.5.07mn, Dh.4.53mn and Dh.4.49mn respectively.

Reidin.com is the exclusive primary data source for property markets in the emerging economy.

Nearly half of the forthcoming office supplies will be located in Business Bay, while other areas that are likely to see considerable completions by 2016 include Dubai International Financial Centre, Dubai Design District, JLT and Dubai World Central.

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