Rising Expo City highlights strength of Dubai’s commercial offering

The site is set to transform into a ‘human-centric city of the future’ and is just one of several exciting commerce focused developments taking shape.

Dubai’s rocketing residential property market is grabbing attention across the globe, but the commercial segment is also making waves – growing 49% in the past year. 

And property experts say the best is yet to come.  

Leading the charge is Expo City. After attracting over 24 million visitors for Expo 2020 (held in 2021), this repurposed site now aims to be Dubai’s pioneering ‘human-centric city of the future’ for international business.  

As a new global corporate hub, this will be the UAE’s first ‘15 minute-city’ – meaning you should be able to get anywhere within a 15-minute walk or bike ride. Add to the mix being net-zero carbon emissions by 2030 and state-of-the-art 5G connectivity, and you get commercial real estate that’s (sustainable) hot property.  

The area enjoys a prime location too.  

Close to Abu Dhabi, adjacent to Al Maktoum airport, and with easy access to four major motorways, Expo City is also just seven minutes from Dubai Investment Park and has its very own metro station for commuting workers.  

It is also a Free Zone – meaning entities can have 100% foreign ownership, streamlined work visa processes, and tax exemptions extending up to 50 years. The first anchor tenants to take advantage of this include DP World, Emirates Airline, and Siemens Energy – and the area is home to more than 3,000 employees already.  

“The increase of Expo City in popularity amongst companies is clear to see. Earlier this year, the average office space was around AED 160 per sq. ft, whereas now we’re seeing it at around AED 200 per sq. ft. With global events like COP28 showcasing the area’s potential, interest to lease the commercial offices will only continue to spike,” commented Glen Hall, Commercial Consultant at haus & haus.  

Indeed, it is predicted that Expo 2020 and Expo City will contribute a whopping $42.2 billion of gross added value (GVA) to the UAE’s economy (2013-2042). With commercial real estate only available to lease, the development of Expo City as a technology and business hub is a key component to the 2040 Urban Master Plan.  

Add to all this the exciting launches of Central One (in the Dubai World Trade Centre) and Dubai CommerCity, and it looks like the commercial side of Dubai’s real estate offering is one to watch.