For the last few years, the headlines in the Dubai real estate market have been dominated by villas, branded residences and record-breaking penthouses. But if you look at the data behind the headlines, a different story is forming:
The strongest risk–return opportunity today is shifting toward commercial property – especially office space and logistics warehouses.
If someone is genuinely asking, “What is the best option in Dubai real estate? Which off-plan properties give the highest ROI?” the answer increasingly is:
well-selected office space and warehouses in the right locations.
1. Latest data: how Dubai’s commercial property market is changing
Dubai’s commercial real estate sector has entered a new cycle. Recent figures show:
- Commercial sales values up by almost 80% year-on-year.
- Office sales volumes and values hitting record highs, with strong price growth and rising rents at the same time.
- Prime office districts like DIFC, Downtown and Business Bay leading the recovery, but secondary business hubs also catching up.
- Analysts warning of a future two-tier office market: new Grade A space vs ageing, inefficient buildings.
Q: Why does this matter for investors looking for the best off-plan properties in Dubai?
Because it means you are early in a structural re-pricing:
- Demand for good, efficient office space is rising.
- Supply of true Grade A buildings is limited and will only meaningfully grow closer to 2028–2030.
- The gap between prime product and tired secondary stock will widen – and that gap is where the highest ROI lives.
If you want the best project for investment in the Dubai real estate market, you need to position yourself on the right side of that future gap.
2. Why office space can outperform residential in Dubai
There are four structural reasons why office space and commercial property can now deliver better risk-adjusted returns than many residential investments.
2.1. Persistent shortage of Grade A offices
Most new launches in the last decade have been residential. Meanwhile:
- Dubai’s business ecosystem has exploded – new free zones, more HQ relocations, fintech, asset management, logistics and tech companies.
- Yet the volume of new, efficient, Grade A office stock has lagged behind.
- The first wave of truly modern, highly efficient office towers will only be delivered later this decade.
This mismatch explains why rents and prices are rising together – a classic sign of a landlord’s market.
2.2. Yields that still reflect “old cycle” risk
In many prime residential areas, gross yields have compressed to about 5–7% as prices have outpaced rents.
In contrast, if you buy intelligently, Dubai commercial property can offer:
- New office yields starting around 9% on realistic, current market rents.
- Warehouse and logistics yields that can reach the low- to mid-teens in strong locations.
For an investor searching for off-plan properties with the highest ROI in Dubai, this alone is a strong argument to take commercial seriously.
2.3. Brand, quality and the “flight to quality”
The fully pre-sold, one-million-sq-ft “SHAHRUKHZ by Danube” tower on Sheikh Zayed Road is a signal case:
- Pre-launch sales exceeded expectations.
- The tower is pure Grade A, branded, iconic commercial space.
This proves that the market is ready to pay up for the right quality in the right corridor – and that the future two-tier market is already forming.
2.4. Professional tenants vs lifestyle tenants
Commercial tenants are businesses. They think in terms of:
- Cost per usable sq ft
- Service charges
- Parking and access
- Brand image and staff retention
They are less emotional but more rational than residential tenants. That makes cash flow more predictable, especially if you select sectors and tenant profiles with strong underlying demand.
3. Core thesis: Sheikh Zayed Road & Business Bay office space
If your question is:
“What is the best project type for investment in Dubai real estate – where should I buy off-plan for the highest ROI?”
then Sheikh Zayed Road and Business Bay office space are at the top of the list.
3.1. Pricing framework for off-plan commercial in core CBD
Looking at recent transactions and rent levels, a practical framework for off-plan commercial property in Business Bay and along Sheikh Zayed Road is:
- Mainstream good-quality off-plan offices
- Target entry: around AED 3,000–3,500 per sq ft (shell-and-core) in Business Bay.
- Requirements: strong developer, efficient floor plates, decent parking and lift capacity.
- Stronger projects with clear competitive edge
- Examples: corner visibility, direct metro access, strong retail podium, modern façade.
- Tolerate up to AED 4,000 per sq ft off-plan if the building quality and tenant profile justify it.
- Ultra-prime, niche iconic towers
- Think of projects with an Omniyat-style positioning – exceptional architecture, metro adjacency, unique common areas and a clear story for financial or creative tenants.
- For this tiny segment, AED 5,000–6,000 per sq ft off-plan can still make sense if end-values realistically reach AED 8,000–9,000 per sq ft once leased and stabilised.
Given today’s closing prices in the very best existing towers, underwriting a move from AED 3,500 psf (entry) to around AED 5,000 psf (exit) by handover is not unrealistic – especially when you factor in Grade A supply constraints.
3.2. Micro-location: not all Business Bay is equal
Within Business Bay and SZR, there are micro-markets:
- Plots next to the metro, with easy in/out access and good visibility, command higher rents and lower vacancy.
- Buildings stuck in heavy choke points or with awkward access see slower absorption and weaker rent growth.
For best-off-plan properties in these corridors:
- Prioritise access + visibility + efficiency over pure “wow” factor.
- Avoid overpaying for small trophy units that look impressive on paper but are hard to lease.
4. Do not copy residential behaviour: commercial is different
The biggest danger for new investors entering commercial property is to act like residential flippers and buy anything that is new and shiny.
Commercial is not residential:
- Tenants are cost-sensitive SMEs and corporates, not families shopping with emotions.
- They prefer efficient, mid-size offices, reasonable service charges and functional lobbies.
- Over-designed but impractical offices can stay vacant, even in a boom.
If you want the best options in Dubai real estate with high ROI, your discipline must be higher in commercial, not lower.
5. The decentralisation trend: JVT, Dubai Hills, Motor City & 15-minute business hubs
Beyond the CBD, a second thesis is emerging that fits perfectly with your JVT view.
5.1. The rise of neighbourhood business hubs
New analysis by major advisory firms shows that many residents now want to:
- Live, work, socialise and run companies within a 10–15 minute radius.
- Cut daily commutes from 45 minutes to 10 minutes.
- Trade a “big CBD address” for time, convenience and lifestyle.
This is driving demand for commercial space in secondary business districts, especially:
- Expo City Dubai & Dubai South – airport-anchored growth story.
- Dubai Hills Estate – central location, strong residential catchment and a complete ecosystem.
- Motor City, JVC, JVT, Dubai Science Park – mixed-use, mid-rise communities with strong SME and professional demand.
5.2. Why JVT and similar areas work for office investment
In places like Jumeirah Village Triangle (JVT):
- Plot permits often allow mixed-use (residential + office + retail).
- The resident base includes many business owners and decision makers from surrounding villa communities (The Oasis, Jumeirah Golf Estates, parts of Dubailand).
- These residents do not want to commute daily to Business Bay or DIFC, especially as traffic worsens.
For investors, this means:
- Buying into early-stage, good-quality office projects from credible mid-tier developers (e.g. Object 1) can create exposure to both yield and capital appreciation.
- Rents are lower than in the CBD, but entry prices are much lower, so yields remain attractive.
6. Warehouses and logistics: double-digit yields in Al Quoz, Jebel Ali & DIP
While offices finally start to grab headlines, warehouses and logistics have been quietly delivering:
- Very high occupancy rates in Al Quoz, Jebel Ali, Dubai Investment Park and Dubai Industrial City.
- Rent growth driven by e-commerce, 3PL logistics, FMCG and regional distribution.
- Historical gross yields around 10–15%, depending on lease structure, covenant strength and capex requirements.
For a portfolio investor, combining:
- One strong Sheikh Zayed Road / Business Bay office,
- with one or two warehouses in Al Quoz or Jebel Ali,
can create a balanced commercial portfolio with higher blended ROI than most residential portfolios in today’s market.
7. Practical checklist: how to underwrite the best off-plan commercial property in Dubai
7.1. Office investment checklist
- Location & accessibility
- Distance to metro and main roads.
- Quality of access during peak hours (no impossible left turns or permanent bottlenecks).
- Building efficiency
- Practical floor plates that allow multiple layout options.
- Ceiling height, natural light, lift count and parking ratio.
- Tenant profile
- Is the building designed for SMEs, professional firms, financial services, creative agencies or medical users?
- Does unit size (800–3,000 sq ft, or full floors) match that tenant base?
- Yield and pricing
- Buy at entry yields that are attractive today, not fantasy future rents.
- For CBD offices, target new-lease gross yields around 9% or better.
- Developer and delivery risk (for off-plan)
- Strong record of delivering commercial product, not only residential.
- Clear escrow, realistic timeline, and transparent construction updates.
7.2. Warehouse investment checklist
- Zoning, land tenure and permitted uses.
- Access to motorways, port and airport.
- Building specifications: clear height, yard depth, dock doors, floor loading.
- Tenant covenant and lease profile (single vs multi-tenant, lease length, escalation).
- Maintenance and capex needs that impact your net yield.
What is currently the best option in Dubai real estate for long-term investment?
For investors seeking the best option in Dubai real estate with a combination of income and capital growth, well-selected commercial property – especially office space and logistics warehouses – is highly attractive. Core offices in Sheikh Zayed Road and Business Bay, plus high-demand warehouses in Al Quoz, Jebel Ali and DIP, can deliver higher yields and stronger medium-term upside than many popular residential launches.
Which off-plan properties in Dubai offer the highest ROI – apartments or offices?
In the current cycle, off-plan office space often offers a higher realistic ROI than typical residential units. Residential yields in prime areas have compressed to around 5–7%, while carefully chosen office projects can start near 9% and logistics assets can achieve 10–15% gross yields. For investors focused on off-plan properties with the highest ROI in Dubai, the priority should shift from generic apartments to Grade A or strong Grade B office towers and industrial assets.
Where are the best off-plan commercial projects in Dubai located?
The most compelling best off-plan properties for offices are concentrated in:
Sheikh Zayed Road – especially iconic, branded towers with direct visibility and metro access.
Business Bay and DIFC fringe – well-designed new buildings with efficient layouts and strong corporate demand.
Emerging 15-minute business hubs in areas like JVT, Dubai Hills, Motor City and Dubai South, where residents want to live and work within the same community.
These locations combine liquidity, tenant demand and long-term infrastructure support, which is why they are repeatedly identified as the best projects for investment in the Dubai real estate market.
Is it safe to buy any new commercial project because the market is booming?
No. The Dubai commercial property market is strong, but commercial real estate behaves differently from residential. Tenants are cost-driven and selective. To avoid risk, investors should:
Focus on developers with proven commercial track records.
Avoid overpaying for tiny trophy units in average buildings.
Prioritise efficient layouts, realistic service charges and strong micro-locations.
In other words, do not let the booming market push you into weak products; the best ROI comes from disciplined selection.
How should a balanced high-ROI Dubai real estate portfolio look today?
A balanced, high-ROI portfolio in the Dubai real estate market today could include:
One core off-plan office in Sheikh Zayed Road or Business Bay at a sensible entry price (around AED 3,000–4,000 psf).
One or two warehouses in Al Quoz, Jebel Ali or DIP with solid tenants and double-digit yields.
Optional exposure to neighbourhood offices in JVT or Motor City to capture the 15-minute city trend.
This mix targets capital growth from Grade A offices and stable income from logistics, aligning with the goal of finding the best projects for investment and the best off-plan properties with the highest ROI in Dubai.
Final takeaway for serious investors
Residential property will always have a place in Dubai portfolios, but:
- Commercial sales volumes and values are hitting new highs.
- Grade A supply is still limited and will only gradually increase.
- Yields on good commercial stock remain substantially higher than on most villas and apartments.
For investors asking “What is the best option in Dubai real estate?” or “Which off-plan properties offer the highest ROI?” the conclusion is clear:
Thoughtfully selected office buildings and logistics warehouses in the right Dubai locations are likely to be the most compelling real estate investments for the next five to ten years.
