AL THURAYA TOWER 2

OVERVIEW

Al Thuraya Tower 2 is a commercial office building within the Dubai Internet City (DIC) free zone, the TECOM-managed technology district along the Sheikh Zayed Road corridor. The building takes its designation from the Al Thuraya twin tower development; Al Thuraya Tower 1 is located within the adjoining Al Barsha Heights district, reflecting a twin-tower positioning across adjacent TECOM sub-districts. Al Thuraya Tower 2 provides commercial office accommodation within the DIC free zone framework, serving the submarket's established technology, IT services, and knowledge-sector occupier base. The building is understood to provide freehold office space available to eligible purchasers and tenants within the TECOM free zone.

OFFICE STOCK AND TENANT PROFILE

Al Thuraya Tower 2 provides commercial office space with configurations suited to the small and mid-size occupier profile typical of the Dubai Internet City submarket. The DIC licensing remit restricts tenancy to technology, IT services, digital media, and knowledge-economy businesses, shaping a tenant profile consistent with the broader TECOM cluster. The building's floor plates and unit sizes are consistent with freehold commercial product in DIC, accommodating both single-occupier floors and subdivided units serving smaller businesses. The adjacency of Al Thuraya Tower 1 in Al Barsha Heights, under a related building designation, reflects the twin-tower development pattern common to several TECOM-managed projects across the contiguous free zone cluster.

RENTAL MARKET

Rental rates in Al Thuraya Tower 2 are expected to reflect the prevailing DIC strata submarket range, with asking rents for comparable product in Dubai Internet City typically falling between approximately AED 90 and AED 130 per square foot per annum. Achieved rents depend on floor level, fit-out condition, lease duration, and the negotiating position of the parties. The DIC submarket benefits from structural occupier demand generated by the TECOM licensing ecosystem, limiting direct competition from non-free zone buildings for tenants requiring DIC operating licences. Service charges are recoverable separately and should be reviewed at heads-of-terms stage to establish the total effective occupancy cost.

SALES MARKET

Al Thuraya Tower 2 is understood to be a freehold asset within Dubai Internet City, with individual office units available for purchase by eligible buyers under the DIC free zone framework. The purchaser profile is likely to include owner-occupiers seeking permanent DIC tenure and investors targeting the technology-sector leasehold income stream. Liquidity in DIC freehold product is constrained relative to larger commercial strata submarkets such as Business Bay, given the free zone eligibility requirements applicable to both buyers and tenants. Gross investment yields are broadly in line with wider Dubai commercial strata norms. Due diligence should encompass service charge obligations, owners' committee structure, and compliance with TECOM regulatory conditions.

LOCATION AND ACCESS

Al Thuraya Tower 2 benefits from Dubai Internet City's dual highway access via Sheikh Zayed Road and Al Khail Road, providing connectivity to central Dubai, Dubai Marina, and the wider emirate. The Dubai Internet City Metro Station on the Red Line is within the free zone area, supporting commuter access for staff and visitors. The DIC free zone is contiguous with Dubai Media City to the north and Al Barsha Heights — where Al Thuraya Tower 1 is situated — to the east, creating a seamless TECOM technology and media cluster. Food, beverage, and retail amenity is available within the DIC common areas, with wider provision accessible at Ibn Battuta Mall and Dubai Marina within a short drive.

RISKS AND WATCHPOINTS

The DIC free zone framework imposes eligibility conditions on tenants and purchasers, narrowing the addressable occupier and investor pool relative to non-free zone commercial buildings in competing submarkets. Strata governance complexity — particularly in relation to capital expenditure decisions and service charge administration — is a risk factor common to DIC freehold product. Building vintage and the pace of refurbishment relative to DIC peers will influence the building's competitive position over the medium term. Investors and occupiers should assess the owners' committee structure, service charge history, and the condition of common areas and building services prior to committing. TECOM regulatory conditions on change-of-use or significant alterations should be confirmed at the outset of any transaction.

STRATEGIC PERSPECTIVE

Al Thuraya Tower 2 serves the established DIC occupier segment of technology and knowledge-economy businesses requiring a recognised TECOM free zone address. For owner-occupiers, the building offers a DIC operating base with freehold ownership security within a well-connected cluster, benefiting from proximity to the broader TECOM corridor and the adjacency of Al Thuraya Tower 1 in Al Barsha Heights. For investors, the freehold ownership structure provides accessible entry-level ticket sizes and exposure to the technology-sector leasehold income stream, subject to the management complexity and liquidity constraints characteristic of DIC freehold product. Medium-term demand is underpinned by continued technology-sector concentration within the TECOM corridor, though competitive pressure from newer product requires ongoing attention to asset management and building presentation.