Russian Space 1 was expanded in Dubai and offices were rented to the creator of the Burj Khalifa

The deal was signed with developer Emaar, known as the creator of the world’s tallest skyscraper, Burj Khalifa.

The building where the Russian company rented offices is located in front of the famous skyscraper and next to the Dubai Mall, a 5-minute walk from the metro stations of the same name, RB.RU reported. head of the Space 1 project in Dubai Vladimir Bolshakov. The rental price and the duration of the contract with Emaar were not disclosed.

“The new 10 Space 1 offices are designed for 300 jobs and have an area of ​​1,810 m2. feet (170 m2) with the possibility of combining up to 27 thousand m2 in a single office. feet (2.5 thousand square meters),” Bolshakov said.

The company has already put an offer on the market with a price of $950 per workplace, offices that will open in January 2025;

“Our current price reflects the current rental rate situation in Dubai. The final cost for us is determined by the owner’s price,” Bolshakov said. According to the project director, office rental prices in Dubai have increased by 30 to 50% over the year.

The offices themselves will meet Space 1 standards, and upon request, clients will be able to have their own server room. Tenants who have entered into an agreement with the company will receive a continental license (DED License), which gives them the right to conduct business both within the country and abroad.

Space 1 offers offices to quickly accommodate employees. Cleaning, minor repairs, internet, consumables, coffee and much more will be included in the monthly payment. The spaces will be equipped with three kitchens on a common floor, but it is possible, as part of the customization, to equip a coffee point in each office. Tenants will be able to use the mobile application, its functionality: help desk, location information, request for a pass.

Space 1 already has 3 thousand square meters. m of service offices in Dubai in the Al Salam Tower business center near the Dubai Internet City metro station. These are workspaces created according to Russian Space 1 standards, with a capacity of 10 to 120 jobs and a cost of between $850 and $900 per month per job. There is demand for offices, the vacancy rate is less than 10%.

In half of the cases, Space 1’s clients are Russian companies that decide to open representative offices in Dubai, another 50% of subtenants are international and local organizations, the company claims.

“Our typical clients in this city are companies that are already established in Dubai and have between 20 and 30 employees, or new companies immediately entering the UAE market with plans to rapidly increase the number of staff. Additionally, Space 1 solutions are suitable for those who are currently expanding, hiring additional employees and who need to move quickly,” Bolshakov explained in June.

As told to RB.RU Whitewill Dubai Chief Operating Officer Olga PankinaThe occupancy rate of Class A offices in Dubai has reached 93%. Demand remains high, especially given the limited supply of new space.

“Many projects are fully let during construction, with rental rates growing up to 64% annually in key areas such as Business Bay and DIFC. This is due to the UAE government’s active support for initiatives to attract foreign companies and specialists, which stimulates the office real estate market,” the expert said.

According to Pankina, investments in class A offices remain profitable. In 2024, transaction volume increased by 24%, reaching AED 2.7 billion (68.54 billion rubles). The rising value of offices in Business Bay, DIFC and the city center make this investment particularly promising.

“Dubai is actively implementing a strategy until 2040, which aims to increase the population and create favorable conditions for foreign companies by simplifying the visa regime and improving business infrastructure,” Pankina explained.