32 offices in Business Bay sold for Dhs646m

Dubai’s real estate market saw the sale of 32 offices in the Business Bay area for Dhs646 million during midday trading on Wednesday.

According to data from Dubai REST, the digital application of Dubai Land Department, the sold offices cover an area of 118,500 square feet at an average price of Dhs167,200 per square foot.

The sold offices belonged to three projects, the most prominent of which was Omniyat’s Lumena with sales of Dhs558.5 million, resulting from 20 commercial office transactions covering an area of 101,300 square feet at an average of Dhs112,000 per square foot.

The HQ by Rove project also witnessed the sale of 11 commercial offices spanning 10,755 square feet forDhs50.3 million at an average price of Dhs49,400 per square foot.

Meanwhile, the Lumena Alta by Omniyat project saw the sale of an office spanning an area of 6,477 square feet for Dhs37.2 million at an average price of Dhs5,738 per square foot.