Berkeley Tower in Business Bay: What a 60-Storey Office Launch Means for Buyers
Berkeley Tower puts 109 freehold offices on the Sheikh Zayed Road corridor in Business Bay, across 60 storeys, with a combined value of AED 2.8 billion, or about USD 762 million. The developer is Ellington Properties, working in a joint venture with Al Hamra Group of Ras Al Khaimah. Handover is scheduled for 2030. The tower stands next to the Business Bay Metro Station, a short ride from Downtown Dubai and DIFC.
Our team reads a launch like this as a signal about where office demand is heading, and about what buyers should check before signing. The numbers around it are larger than the building itself.
The market behind the launch
Dubai office sales reached AED 13.1 billion in 2025. That is 102.3% above the AED 6.5 billion recorded in 2024. The first six months of 2026 then produced AED 15.8 billion across roughly 2,600 transactions, which already exceeds the full previous year. The first quarter alone brought AED 8.2 billion, up 203% year on year, and off-plan office sales overtook ready transactions for the first time in 15 years.
At the top end the shift is sharper. In the first half of 2026, Dubai recorded more than 220 office sales above AED 20 million each. Of those, 95% were in off-plan buildings. Institutional buyers and family offices are locking in future headquarters floors years before the keys exist.
Why supply stays tight
Buyers often assume that a wave of new towers will soften prices. The delivery record says otherwise. In 2025 the forecast pipeline stood at 224,000 sq. m. of new office space, and 87,000 sq. m. was actually completed. That is a 39% materialisation rate, set against a total office stock of roughly 9.4 to 9.5 million sq. m.
Announced supply and delivered supply are two different numbers. Projects slip, get re-phased or change scope. A buyer who plans around the announced pipeline will underestimate how scarce finished Grade-A space remains through 2028 and 2030.
Demand sits on a tight base. Occupancy in prime Dubai business districts held between 92% and 95% across 2025 and 2026. Citywide office capital values rose 25.9% in 2025 to AED 1,951 per sq. ft. and passed AED 2,012 to 2,029 per sq. ft. in the first half of 2026. Prime Grade-A towers trade above AED 3,000 per sq. ft. Business Bay Grade-A asking rents now run from AED 190 to over AED 250 per sq. ft. per year, after citywide rent growth of 22.9% in 2025 and 14% to 20% year on year in the first half of 2026.
The spillover from DIFC
When DIFC and Downtown run at 92% to 95% and rents climb by double digits, tenants look at the next corridor. Sheikh Zayed Road in Business Bay is that corridor. Older strata stock there was built in the previous cycle, with slow lifts, tight parking and limited ESG credentials. Occupiers with a choice pay a premium for buildings that fix those problems.
Berkeley Tower is designed around exactly those pain points. It has 12 destination-controlled double-decker elevators, an automated robotic parking system, smart access gates and dedicated drone delivery platforms. The structure also provides for future air-taxi vertiport connectivity. Five full floors go to a private clubhouse, executive lounges, boardrooms, co-working zones, fitness and pilates studios and landscaped sky terraces.
The units themselves range from boutique suites starting at 1,132 sq. ft. to full floors, duplexes and triplex headquarters of 21,000 to 22,000 sq. ft. Floor-to-ceiling heights run from 3.8 to 4.1 meters, and the double-height lobby covers over 4,000 sq. ft.
Two reference points
The closest local comparable is Lumena by Omniyat, a 49-storey, 260-meter commercial tower at the Sheikh Zayed Road entrance to Business Bay. Its shell-and-core offices and retail units sold out for AED 3.4 billion. That result shows deep appetite for hospitality-led office towers with executive clubs and sky pools. Berkeley Tower targets the same corridor with a taller building and a lower total value.
Ellington's own earlier commercial project, Eaton Square in MBR City, carries 14 office floors with biophilic design and outdoor fitness. Berkeley Tower takes that residential-hospitality approach and scales it into a skyscraper. For buyers, the developer's track record in design and handover quality matters as much as the price per square foot.
How we frame it for buyers
Our advisory view starts from the buyer's side of the table. An off-plan office with a 2030 handover offers staged payments during construction and exposure to a Grade-A asset in a corridor where supply is chronically short. Entry also comes in smaller tickets than the 95% share of AED 20 million-plus deals would suggest. A 1,132 sq. ft. suite opens the building to private investors and owner-operators who could never buy a full floor.
A business owner currently renting faces a clear comparison. With rents rising 14% to 22.9% a year, every year of lease payments builds no equity. Buying an office converts that cost into a balance-sheet asset.
Golden Visa angle
Real estate investment of AED 2 million or more qualifies for a 10-year UAE Golden Visa. At citywide average prices of AED 2,012 to 2,029 per sq. ft., the smallest Berkeley Tower suite sits above that threshold. Founders and family offices can therefore combine an operating base with residency eligibility in one purchase. Buyers should confirm eligibility with the Dubai Land Department before relying on it, since final unit pricing determines the outcome.
The cross-emirate signal
The partnership between a Dubai design-led developer and Ras Al Khaimah's flagship master developer also matters. Investors who followed Al Hamra Group in Ras Al Khaimah now see it co-developing a 60-storey tower in central Dubai. For portfolio buyers, this supports a diversified structure. Coastal residential holdings in RAK or Abu Dhabi can sit beside income-oriented Grade-A commercial space in Dubai's core.
What to check before buying
Our team suggests a short list for any off-plan office purchase at this scale.
Payment plan and escrow Confirm the construction-linked schedule and that all payments go through a regulated escrow account.
Unit specification Check floor-to-ceiling height, column spacing and shell-and-core handover condition against the brochure.
Service charges Five floors of amenities and a robotic parking system carry real operating costs. Ask for the projected service charge per sq. ft. before committing.
Exit and leasing Model both a resale before handover and a lease after it, using the current asking range of AED 190 to over AED 250 per sq. ft. per year as a reference.
Delivery risk The 39% materialisation rate is a reminder that a launch date is a plan. Review the developer's completed projects and their actual handover dates.
Frequently asked questions
Is Berkeley Tower freehold? Yes. The 109 Grade-A office units are offered freehold, which allows foreign buyers to hold title directly.
When is handover expected? The developer has scheduled handover for 2030. Buyers should treat that as a target and review the sale agreement for the delay provisions.
Can an office purchase qualify for the Golden Visa? Real estate investments of AED 2 million or above qualify for a 10-year visa. At citywide average prices, even the 1,132 sq. ft. entry suite sits above that level, subject to final pricing and Dubai Land Department confirmation.
Our team helps buyers evaluate off-plan commercial towers against delivery records, payment terms and rental demand, so the decision rests on the contract and the corridor around it.
