Downtown Dubai tops chart for biggest office deals in Q2

Dubai's commercial space continued to register big ticket deals in the second quarter of 2015, with Downtown Dubai recording six of the top 10 office deals.

The biggest transaction registered with Dubai Land Department (DLD) was worth Dh19.19 million in Control Tower in Business Park Motor City, reveals data shared exclusively by Reidin.com with Emirates 24|7.

The second biggest was in the same tower worth Dh17.62 million, followed by Vision Tower in Business Bay with a transaction value of Dh17 million.

A transaction registered for Dh12.60 in Boulevard Plaza Tower 1 in Downtown Dubai took the fourth place, followed by two transactions of Dh11.25 million each in Boulevard Plaza Tower 1 in Downtown Dubai.

Vision Tower in Business Bay, was again in seventh position with a transaction valued at Dh10.54 million.

Two transactions of Dh10.13 million and Dh9.92 million in Boulevard Plaza Tower 1 in Downtown Dubai took eighth and ninth positions, with the final spot going to Boulevard Plaza Tower 2 deal, which was closed at Dh9.32 million.

In its second quarter 2015 report, Land Sterling, a UAE-based chartered surveyor and property consultancy firm, said office sales market remained robust due to steady demand, despite a drop of 30 per cent in transaction volume during the quarter.

Total value of office sales transactions registered with DLD stood at about Dh695 million in the second quarter 2015 with nearly 80 per cent generated by sales in Business Bay and Jumeirah Lakes Towers, it added.