Which Dubai office tower registered costliest deal?

A Dh15 million transaction in Vision Tower, Business Bay, has topped the list of the top 10 biggest office deals completed in the first quarter 2014 in Dubai.

According to information provided by Reidin.com to Emirates24|7, Business Bay and Jumeirah Lakes Towers (JLT) each shared the honour of registering the four biggest transactions of the top 10 deals, with Tecom C registering two.

Almas Tower, JLT

A 10,195 square feet office in Vision Tower topped the list with a Dh15 million deal, followed by a 6,091 square feet unit in the same tower being sold for Dh8.67 million taking the second spot.

The third place went to Almas Tower, JLT, which saw a 3,314 square feet unit selling for Dh7.17 million.

iRise Tower in Tecom C saw the fourth and fifth largest transactions, with purchase price being Dh6.80 million and Dh6.35 million, respectively.

A 5,778-square feet office unit in Swiss Tower, JLT, was ranked sixth on the list with the transaction value standing at Dh5.70 million. Plaza Boutique 04 in Business Bay came seventh with a sale value of Dh5.15 million.

Executive Towers, Tower D, in Business Bay and Almas Tower in JLT took the final three slots with transactions valued at Dh5.07 million, Dh4.53 million and Dh4.49 million, respectively.

iRise Tower in Tecom

Reidin.com is an exclusive and primary data source for real estate markets in the emerging countries.

JLL, the global real estate consultancy, has said that as of Q4 2013, the current office stock in Dubai stood at 78.57 million square feet, while 15.06 million sqft was the estimated to be released between 2014 and 2016.

Almost half of the proposed upcoming office supply will be located in Business Bay. Other areas proposed to witness significant completions by 2016 include Dubai International Financial Centre, JLT, Dubai Design District and Dubai World Central.

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