The Uptown Tower, the newest skyscraper in Dubai, has officially welcomed its first set of office tenants.
The Grade A commercial office space on Uptown Tower’s 22 floors, which totals 495,000 square feet, is now occupied by 31 different companies. Multinational giants like Invisalign and Wellbred are among the early tenants; the Gemological Institute of America (GIA) and Hikvision are expected to move in during the third quarter. Several retail and food-and-beverage establishments, including allday and Jones the Grocer, have also been added to Uptown Tower.
In the Uptown Dubai area, which will also include two famous supertall structures and seven mid-rise towers, Uptown Tower is the first tower to be constructed. As soon as it is finished, this district will change the way mixed-use developments are built in the area by providing a wide range of shopping and dining options, five-star hotels, immersive living, and a sustainable neighborhood.
“The inclusion of Uptown Tower enhances DMCC’s business district’s overall capacity, which continues to attract a record number of new businesses from around the world,” the Dubai Free Zone said in a statement on Tuesday. Following a stellar year in 2022, during which DMCC welcomed 3,049 new members to its district, the first half of 2023 has also shown strong performance, with 1,456 new businesses establishing themselves in Dubai.
Through Uptown Tower, international enterprises in the commodities sector have joined the DMCC ecosystem, reiterating Dubai’s position as a significant international hub for the trading of commodities, particularly in diamonds, hydrocarbons, and metals.
Given the robust tech ecosystem DMCC has established throughout its district, the existence of businesses like Hikvision proves its desirability for international businesses in the technology sector. The fact that China is still investing in the UAE at a time when commerce between the two nations is expected to reach $200 billion by 2030 is also highlighted. More than 750 Chinese enterprises are currently registered in the DMCC, which accounts for well over 12% of all Chinese companies in the UAE.
A significant portion of the flats in DMCC’s branded homes in Uptown Tower, SO/ Uptown Dubai homes, have already been sold. The first SO/ hotel to open in the Middle East will span 10 levels of the tower, and these branded residences will complement that opening.