The largest real estate transaction of the year took place in Downtown Dubai when a commercial property in the Downtown neighborhood was purchased for Dh505 million. Driven Properties declared on Monday that the purchase of Emaar Square Building 3 had expanded its holdings.
According to a statement, the 378,885-square-foot property demonstrates Driven Properties’ commitment to meeting the high demand for first-rate office space in the city’s most sought-after neighborhood.
“Our investment demonstrates our unwavering commitment to excellence and our proactive approach to meeting market demands. By expanding our portfolio with this landmark building, we’re not only enhancing our offer but also supporting the ambitions of businesses that make Dubai so dynamic,” said Abdullah Alajaji, Founder and CEO of Driven Properties.
“Moving our headquarters to Emaar Square 3 is a significant step for us—it places us right at the center of the action, where innovation and opportunity thrive,” Alajaji added.
Hadi Hamra, Managing Partner at Driven Properties, said that the purchase was made through a dedicated fund. “Relocating the company’s headquarters to Emaar Square 3 not only signifies growth but also reinforces Driven Properties’ reputation as a trusted and influential player in Dubai’s competitive real estate market,” said Hamra.
According to new data released by Property Monitor, the monthly transactions in the Dubai real estate market surpassed 20,000 in October. Last month, there were 20,460 recorded sales transactions, a 13% increase from the month before. The bulk of sales were of off-plan and under-construction properties.
