New Dubai office towers: Immersive Tower in DIFC, Aldar's Sheikh Zayed Road building and Bureau Lamar in Business Bay

Dubai's office market has been running short on space for three years: Grade A stock in central districts is nearly gone, rents keep climbing, and tenants sign a year to eighteen months before a building is even handed over. In 2024, three projects were announced within months of each other, aimed at closing part of that gap around DIFC and Business Bay. Here is where each stands as of September 2026, and what it means for an office investor.

Immersive Tower in DIFC

DIFC itself began construction on Immersive Tower in spring 2024 — a 37-storey building costing roughly $300m, next to Daman Tower, designed by Aedas.

• 58,573 sq m of Grade A office space;
• about 10,596 sq m of retail;
• a tenant club spanning floors 26–28;
• planned handover in April 2027.

It is the first major office building in years to rise inside DIFC's own jurisdiction, with its own laws and courts — a point that matters more to financial firms than the view from a window.

Aldar's tower on Sheikh Zayed Road

In July 2024, Abu Dhabi's Aldar announced its first commercial project in Dubai: a Grade A office tower on Sheikh Zayed Road, immediately next to DIFC, on one of the area's last unbuilt double plots. It offers 88,000 sq m of leasable space, plus a boutique hotel and branded residences, within walking distance of Emirates Towers metro station. Completion is planned for Q4 2027.

Reports often cite a $490m price tag for the tower. More precisely: AED 1.8bn ($490m) is Aldar's total Dubai investment package, which covers both this tower and the purchase of a completed office building in Dubai Internet City. In January 2025 the company went further, buying a 40-storey commercial tower in DIFC for AED 2.3bn ($626m), due in 2028. For the market, that is a signal: Abu Dhabi's largest developer is treating Dubai offices as a long-term rental play, not a trade.

Business Bay's largest plot: an office park and a theatre

In August 2024, Business Bay's largest plot at the time changed hands — 333,000 sq ft (about 30,900 sq m) on the Dubai Canal, with permitted built-up area of 1.02 million sq ft. The buyer was Lamar Development, planning an office park with a performing-arts theatre and cultural quarter under the name Bureau Lamar. The widely quoted "$3.2bn" figure is Lamar's expected value across all its current and future canal-front projects (more than AED 12bn), not this single park. No public delivery date has been given.

What it means for an investor

All three buildings land in 2027–2028. Against vacancy of 2–5% in the central clusters and annual supply growth of roughly a couple of percent of total office stock, this is welcome relief rather than a turning point. It is unlikely to push DIFC and Sheikh Zayed Road rents down — more likely it gives large tenants, who currently have nowhere to go, some options.

A retail investor cannot buy directly into these towers — they are built for long-term lease and held on their owners' balance sheets. But they set a benchmark for neighbouring buildings: when Grade A leases out in advance, demand spills into decent Grade B stock nearby, which is where a small office can actually be purchased. See our Dubai's Class A offices: 3% vacancy and DMCC's One and Two Uptown Place pieces for more.

For how DIFC itself is expanding — including the move toward Zabeel — see our developer and district coverage; and for the office story city-wide, our Class A vacancy analysis is the place to start.