The resurgence in high-end commercial real estate is being fueled in part by the ‘feel good factor’.
Amid declarations of the demise of the office due to the Covid-19 pandemic, the commercial real estate sector in Dubai is witnessing a resurgence, particularly in high-end spaces, as businesses aim to differentiate themselves and entice employees back with prestigious workplaces worthy of their daily commute.
Emirates REIT (CEIC) PLC (“Emirates REIT”), the world’s largest Shari’a compliant Real Estate Investment Trust, managed by Equitativa (Dubai) Limited, is experiencing this trend firsthand. Demand for commercial space at its flagship Index Tower in Dubai International Financial Centre remains robust, with occupancy reaching 82% in the third quarter of 2023, accompanied by significant rent increases.
Thierry Delvaux, CEO of Equitativa (Dubai) Limited, noted, “The market is witnessing a notable shift towards higher-end commercial leasing. Previously focused on cost considerations, businesses are now placing greater emphasis on the advantages of investing in premium office space: a prestigious environment for client meetings, proximity to major regional and international firms, and a more engaged and content workforce.”
Delvaux emphasized that tenants at Index Tower appreciate its iconic status and accessibility, accessible by car, taxi, or metro. With Dubai’s professionals returning to offices, companies prioritize ease of access for their employees.
“Employers recognize the benefits of in-person collaboration and team synergy, but also understand the importance of convenient access for their workforce,” Delvaux continued. “Moreover, they value office spaces that promote well-being and motivation among employees. While these intangible benefits may be challenging to quantify, they yield rapid returns for employers.”
5 Reasons Why Index Tower Stands Out from the Crowd in Dubai’s Competitive Commercial Real Estate Sector
Index Tower, the iconic 80-story mixed-use tower located in Dubai International Financial Centre, still manages to astound more than 13 years after its inauguration. Beyond its visually striking appearance, the tower garners admiration from occupants for its innovative features, fostering wellbeing and sustainability. This enduring appeal translates into consistently high rental rates and increasing occupancy levels.
Location, location, location
The Index Tower enjoys a strategic location within DIFC, globally acknowledged as the Middle East’s financial hub. Situated near Sheikh Zayed Road, the city’s primary thoroughfare, and merely a brief stroll from the DIFC metro station, it offers convenience for both employees and visitors alike.
Iconic design
The Index Tower stands out as one of the most notable commercial structures in the UAE, boasting a height of 328 meters and a commanding presence. Its distinctiveness lies in its four A-frame concrete ‘fins’ that taper as they ascend, resulting in “a slender profile that exposes the building’s structural system and internal organization,” as described by Foster & Partners. Unsurprisingly, in 2011, the building clinched the award for “Best Tall Building Middle East & Africa” bestowed by the Council on Tall Buildings and Urban Habitat.
Energy efficiency
As sustainability gains greater prominence, organizations are becoming more conscientious about their energy usage and environmental impact. Index Tower’s sleek, tall structure and streamlined design minimize the necessity for mechanical cooling and artificial lighting. Its orientation from east to west diminishes solar heat gain, particularly crucial during sweltering summers, while the building’s concrete frame absorbs warmth, reducing the dependence on air conditioning. Sunshades strategically shield the interiors on the sun-exposed southern side.
Seamless functionality
Companies prioritize convenience and productivity when it comes to their office space, and Index Tower was specifically crafted to cater to these needs. This dedication is evident in the essential services provided and their meticulously planned design. Situated at the tower’s base, the twenty-five floors of office space benefit from expansive elevators engineered to swiftly transport workers and visitors without encountering rush-hour congestion commonly found in other commercial buildings. Additionally, the building features five levels of parking to facilitate easy access and parking for those who choose to drive to the office.
First impressions count
Upon visiting any building, the significance of first impressions becomes apparent, and Index Tower is designed to make a lasting impact from the very moment visitors approach and step inside its commercial space. Access is granted through a striking four-storey atrium, while the tower itself is situated atop a landscaped podium, offering shaded pathways for pedestrians and a variety of dining, shopping, and socializing options.
