Dubai: Dubai’s newest skyscraper – the Uptown Tower – has welcomed the first group of commercial office tenants.
A total of 31 businesses have taken up space across Uptown Tower’s 22 floors of Grade A commercial office space, totalling 495,000 square feet. Among the initial tenants are multinational giants like Invisalign and Wellbred, with others like the Gemological Institute of America (GIA) and Hikvision set to join in the third quarter. Uptown Tower has also seen the addition of various retail and F&B outlets, including allday and Jones the Grocer.
Uptown Tower is the first tower to be built within DMCC’s Uptown Dubai district, set to comprise seven mid-rise towers and two iconic supertall towers, including Uptown Tower. Once completed, this district will redefine mixed-use developments in the region, offering diverse retail and F&B options, luxury hotels, experiential living, and a sustainable community.
“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.
Global companies in the commodities sector have become part of the DMCC ecosystem through Uptown Tower, reaffirming Dubai’s status as a major global hub for commodities trade, particularly in diamonds, hydrocarbons, and metals.
The presence of companies like Hikvision demonstrates DMCC’s appeal for global tech businesses given the strong tech community it has built across its district. It also highlights continued Chinese investment in the UAE as the two countries target $200 billion in bilateral trade by 2030. Today, DMCC is home to more than 750 Chinese companies, equating to well over 12 per cent of all Chinese businesses registered in the UAE.
DMCC has also commenced the sale of its branded residences in Uptown Tower, SO/ Uptown Dubai Residences, with a substantial number of units already sold. These branded residences complement the upcoming launch of the first SO/ hotel in the Middle East, spanning 10 floors of the tower.