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fäm Properties has brokered the AED 124 million (approximately $33.8 million) sale of around 40,000 square feet of Grade A office space at Vision Tower in Business Bay, a transaction that industry sources describe as the largest commercial office sale of its kind ever recorded in Dubai's property market.
The deal, which completed on 22 June, involved a contiguous block of Grade A office space spanning multiple floors of the 60-storey Vision Tower on Sheikh Zayed Road. The buyer is a UAE-based corporation that acquired the premium asset to anchor its strategic business expansion plans. The seller's identity and motivation have not been disclosed.
The per-square-foot calculation works out to approximately AED 3,100, reflecting the premium attached to acquiring a large, contiguous block of inventory rather than piecing together smaller units over time. Fragmented commercial purchases typically face coordination challenges across multiple sellers and varied pricing across different floors. A single-transaction block of this scale at Vision Tower removes that friction entirely and gives the buyer immediate operational control of a substantial Grade A footprint.
The AED 124 million threshold is significant in absolute terms. Business Bay has seen steady office demand since Dubai's post-pandemic recovery, but transactions at this single-asset scale remain rare. The deal underscores a wider pattern, institutional-quality assets in established Dubai business districts continue to attract serious capital, even as the city's office market expands into newer zones such as Dubai South and DIFC's extended footprint.
Vision Tower is one of Business Bay's most recognisable Grade A commercial assets — a 60-storey, 853-foot building on Sheikh Zayed Road frontage that has historically attracted established corporate tenants and consultancy occupiers. The tower's combination of premium architecture, established tenant profile, and core Business Bay location places it in the upper tier of Dubai's commercial inventory.
The acquisition of approximately 40,000 sq ft across multiple floors gives the buyer significant on-tower footprint, useful both for current operational needs and for future workforce expansion within a single, contiguous space.
Firas Al Msaddi, CEO of fäm Properties, characterised the transaction as reflecting profound institutional confidence in Dubai's commercial real estate framework. He framed the demand at this end of the market as consistent rather than speculative, with corporate occupiers seeking stability and long-term value through institutional-quality assets in established business districts.
Daniel McCullagh, Commercial Sales Manager at fäm Properties, who led the transaction, characterised deals of this magnitude as requiring exhaustive due diligence, seamless alignment among multiple stakeholders, and highly sophisticated commercial structuring. The advisory team used verified Dubai Land Department transaction data to benchmark market value across Business Bay's commercial pipeline, providing the buyer with comparative analysis before closing.
Sources: fäm Properties announcement on its brokerage of the AED 124 million Vision Tower commercial office sale, dated 22 June 2026, as reported by INTLBM, Dubai Week, and Arabian Business
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