(MENAFN- Mid-East.Info)
- OBC witnesses tenant demographic shift amidst transforming office usage landscape
- Increased demand drives OBC's expansion into Emaar Square, Downtown Dubai
DUBAI, United Arab Emirates: Before 2020, the general belief was that offices were critical to productivity, culture and getting ahead in the talent war, as companies competed for owned office spaces in major cities around the world. Yet today where uncertainty, cost saving, flexibility, agility, and resilience are buzzwords resounding across all industries, organisations are downsizing their real estate portfolios. As a result, flexible office space is emerging as an optimal solution to the shifting commercial landscape.
One Business Centre (OBC), a company built to inspire entrepreneurship success by providing company formation, private office and coworking spaces in Dubai, has recently witnessed a profound transformation in its client occupancy demographic, and is even planning to expand its current space to 100,000sqft by the end of next year.
Formerly the home of start-ups, entrepreneurs, and temporary local clients, OBC is now the preferred address of a growing number of SMEs and global multinationals who have downsized since 2020. These two groups now make up 60% and 25% respectively of its current clientele in its prime locations in Jumeirah Lake Towers and Dubai Media City.
With a recent CBRE report showing that Dubai office rents are rising faster than in New York and London and the value of prime office rents increasing by 7% in the first half of 2022, the demand for flexible spaces in major business districts has never been greater. As a result, OBC is adding a third location to its portfolio – becoming the first business centre to open in Emaar Square , home to multinationals, leading local and regional businesses, financial institutions, and consultancies. OBC on Level 7 Emaar Square Building 6 will open mid October 2022.
Abir Moussa, Managing Director at OBC says:“We've seen a marked shift in our client occupancy in recent years with more established SMEs and international companies looking to change their office environment in response to the need for more diversified business models and flexible working practices. With the business centre model providing an easy transition to a fully operational office from day one, many companies have realised that it's easy and cost effective to make the switch. In response to this increasing demand, we are now expanding our own real estate portfolio to a new location at Emaar Square in the heart of Downtown Dubai, and right next to DIFC, where our clients will be in the company of leading international, regional, and local financial, consultancy and accounting firms.”
Spread across six buildings, Emaar Square provides direct access to a central road corridor leading to all of Dubai's major highways including Sheikh Zayed Road, Al Saa'da Street and Al Khail Road; as well as covered pedestrian links for access to Dubai Mall and the Dubai Mall Metro.
Offering plug and play business solutions, OBC adds yet another premium location in Emaar Square to an existing collection of highly sort after working spaces, in One JLT and Media One Tower, two of Dubai's key business districts.
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