Dubai's top 5 under-construction office projects
Construction Week provides a rundown of Dubai's top five commercial developments currently under construction around the Emirate
Real estate advisory Cluttons released a report highlighting key trends in Dubai's office market this year.
Dubai Commercial Market Outlook Winter 2015/16 states office rents have been stabilising in the Emirate for the first quarters of 2015 as they continued to remain unchanged during the period.
Garhoud (AED110 per sqf in 2015 from AED95 per sqf in 2014), and Bur Dubai (20% rise to AED60 per sqf in 2015) are leading the city's office market.
The report also highlights prominent office schemes under development in the city.
Read on to find which projects are expected to buoy Dubai's commercial sector in the next six months.
Next page: One for Q4 2015
DMCC announced in September 2015 that its commercial tower, One JLT, will be ready for occupation in November this year.
Located in the DMCC Free Zone and fitted-out to Category A standard, One JLT offers 2.7ha of leasable area across column-free floor plates.
The glass box-styled building occupies a corner plot overlooking the JLT Park.
The development is being built to LEED Gold certification, integrating energy, and water efficiency and sustainable design.
One JLT is in close proximity to a Dubai Metro station, and within 20 minutes of the new Al Maktoum International Airport.
Next page: The magnum opus of Dubai offices
The Opus project in Dubai, designed by Zaha Hadid, was due to complete structural work by October this year, according to developer Omniyat.
There are currently more than 1,000 workers on site to make sure that the building, which was originally launched in 2007 with a view to being completed in 2010, is completed as expediently as possible.
Cluttons expects the Business Bay office to be ready by Q3 2016.
The mixed-use project will have a built-up area of more than 2mn ft2 (185,806m2), including a 250,000ft2 (23,225m2) entertainment and fine dining space.
Brookfield Multiplex is the project's main contractor.
Next page: District delight in Dubai
Dubai Trade Centre District
Construction work at phase one of Dubai Trade Centre District (DTCD), a 146,000sqm site where a hotel and commercial building are being constructed, is due for timely completion, officials told Construction Week.
Amer Alfarsi, projects director for real estate at Dubai World Trade Centre (DWTC), said: "Phase 1 [of DTCD] is scheduled for completion in November 2015 with Ibis Hotel and the office complex becoming operational soon thereafter.
"Progress to date includes the completion of the sub- and super-structure, external facades and main infrastructure, and access to four levels of basement at the Ibis Hotel."
Phase one of DTCD was approved for construction commencement in 2013, after the project was put on hold by DWTC in 2010.
Al Futtaim Carillion was appointed main contractor for the development in March 2014.
Next page: In the heart of DIFC
In March 2015, Dubai’s sovereign wealth fund announced it will build a $1bn (AED3.67bn) development in the heart of the Emirate’s financial district.
The scheme will be the first new construction project there since the property crash in 2008, and the first by a joint venture between Investment Corporation of Dubai (ICD) and Canadian asset manager Brookfield.
ICD Brookfield Place will comprise a 50-storey office tower, hotel and retail outlets next to the Dubai International Financial Centre (DIFC).
Cluttons expects project completion in 2018.
The ICD has helped DIFC in the past, according to Arabian Business, buying some of its assets ahead of a refinancing in 2012 that put the financial centre on a stronger footing.
Next page: Tallest in 2020
Supertall experts Adrian Smith + Gordon Gill Architects have been appointed to design Dubai’s proposed Burj 2020 – what will be the world’s highest commercial tower – after being chosen by DMCC for the project in June 2015.
Hospitality and leisure design specialist WATG has also been appointed to deliver the master plan for its Burj 2020 District.
AS+GG also built Burj Khalifa.
Ahmed Bin Sulayem, executive chairman, DMCC said: “AS+GG and WATG come with a wealth of global destination and tower design expertise.
“Designing a world-class destination of this scale will set new levels of efficiency and urban sustainability and we are confident that our partners, in delivering the ‘Burj 2020 District’ and tower, will create a new address for the global business community of the future, right here in Dubai," he added.
Estimates by Cluttons suggest the project will be ready by 2020.