Dubai: A major property deal in Downtown Dubai has become the year’s biggest commercial real estate sale, worth Dh505 million. Driven Properties has purchased Emaar Square Building 3, strengthening its presence in Dubai’s growing property market.
The property, covering 378,885 square feet, shows Driven Properties’ focus on meeting the rising need for high-quality office spaces in the busy downtown area, the company said in a statement.
“This deal shows our commitment to providing top-notch properties and staying ahead of market demands. By adding this important building to our portfolio, we are improving what we offer and supporting the businesses that drive Dubai’s success,” said Abdullah Alajaji, Founder and CEO of Driven Properties.
He added, “Moving our headquarters to Emaar Square 3 is an important step for us. It places us in the centre of Dubai’s business activity, where new ideas and opportunities grow.”
Hadi Hamra, Managing Partner at Driven Properties, called the purchase a strategic move. “We bought this property through a special fund. This step not only shows our growth but also strengthens Driven Properties’ position as a trusted name in Dubai’s competitive real estate market,” he said.
Dubai’s real estate market is very active. Recent data from Property Monitor shows there were 20,460 property sales in October, up 13% from the previous month. Most of these sales were for off-plan and under-construction properties, showing the city’s rapid development.
Buying this property and moving to Emaar Square 3 shows Driven Properties’ focus on growing and keeping up with Dubai’s booming property market.
