The commercial property market across the UAE has exhibited substantial expansion, with Ras Al Khaimah (RAK) leading a remarkable surge in retail property values, alongside sustained rental and sales growth in Dubai’s key business districts. Data indicates that average retail property prices in specific RAK locations have escalated by up to 348%, underscoring a burgeoning commercial landscape.
In Ras Al Khaimah’s office market, average rents in Al Seer more than doubled, demonstrating an increase to AED 61,211. The Corniche area also reported a notable 15.6% rise, pushing average rents to AED 155,058. For office sales, Julfar recorded a 3.9% increase in average sale prices to AED 613,800, while prime locations such as Al Marjan Island saw average office prices reach AED 8.6 million, reflecting growing investor confidence.
Dubai’s commercial sector maintained its robust performance during the first half of the year. The office rental market experienced significant appreciation across major business hubs. Average office rents in Jumeirah Lakes Towers (JLT) climbed by 30.6% to AED 475,870, while Deira recorded a 23.4% rise to AED 64,391. Sheikh Zayed Road office rents increased by 14.5% to AED 578,394, and Business Bay saw an 11.4% uplift, reaching AED 421,041.
Retail spaces in Dubai also witnessed strong rental growth. Deira led this segment with average rents increasing by 61.5% to AED 643,855. Jumeirah Village Circle (JVC) retail rents rose by 33.4% to AED 511,536, and Arjan reported a 19.3% increase, with average rents at AED 422,612.
Beyond rentals, Dubai’s office sales market also posted gains. Property Finder’s figures for the first half of the year showed average sales prices of approximately AED 10.6 million in Business Bay, AED 6 million in Jumeirah Lakes Towers, and AED 2.45 million in Jumeirah Village Circle. This performance, however, presented variations between the first and second quarters, which analysis attributes to differences in property size, quality, and the specific composition of listings available in each location. General growth was also observed across locations in Abu Dhabi and Sharjah, further highlighting the overall positive trajectory of the UAE’s commercial real estate market.
