MASHREQ BUILDING

OVERVIEW

Mashreq Building, also referenced in the market as Prime Business Tower, is a freehold commercial office building within the Dubai Internet City (DIC) free zone, one of the TECOM-managed technology districts along the Sheikh Zayed Road corridor. The building provides freehold office accommodation within the DIC free zone licensing framework, serving the technology and knowledge-sector businesses that constitute DIC's core occupier base. Its freehold ownership structure positions it among the investable freehold assets within DIC, attracting both owner-occupiers seeking secure long-term tenure and investors targeting the technology-sector leasehold income stream. The building occupies a mid-market position within the established DIC cluster.

OFFICE STOCK AND TENANT PROFILE

Mashreq Building offers freehold office floors with unit configurations suited to small and mid-size occupiers, consistent with the predominant product type in the Dubai Internet City submarket. The tenant profile reflects the DIC licensing remit: technology companies, IT services providers, software developers, and regional offices of international technology businesses. As a freehold building, individual floors may accommodate multiple distinct occupiers depending on the extent of unit subdivision, resulting in occupier fragmentation typical of DIC freehold product. Total net leasable area and individual unit sizes are subject to variation depending on strata configuration and any refurbishment or amalgamation carried out since the building's original completion.

RENTAL MARKET

Asking rents in Mashreq Building are expected to be broadly consistent with the DIC strata submarket range for comparable product, approximately AED 90 to AED 130 per square foot per annum depending on floor level, fit-out condition, and lease term. The DIC submarket has experienced firming rental sentiment in recent years, underpinned by constrained new supply and sustained technology-sector demand. Free zone licensing requirements create a degree of structural demand insulation for DIC product. Service charge recovery structures vary by unit in freehold building, and occupiers should confirm the total occupancy cost, including service charges, at heads-of-terms stage prior to lease commitment.

SALES MARKET

As a freehold asset, individual office units within Mashreq Building are transactable on the open market, providing a liquidity option not available in institutionally managed single-ownership product within DIC. The purchaser profile comprises owner-occupiers seeking permanent DIC free zone tenure and investors seeking exposure to the technology-sector leasehold income stream at accessible ticket sizes. Transaction liquidity is constrained relative to Business Bay or JLT given free zone eligibility requirements applicable to purchasers and tenants. Gross investment yields are broadly consistent with Dubai commercial strata norms. Pre-purchase due diligence should include a review of service charge histories, owners' committee governance, and TECOM regulatory conditions.

LOCATION AND ACCESS

Mashreq Building benefits from DIC's position along the Sheikh Zayed Road corridor, with dual highway access via Sheikh Zayed Road and Al Khail Road providing connectivity to central Dubai and the wider emirate. The Dubai Internet City Metro Station on the Red Line is within the free zone footprint, supporting commuter access for staff. The DIC free zone is contiguous with Dubai Media City and Al Barsha Heights, creating a technology, media, and knowledge cluster that reinforces the submarket's occupier proposition. Dubai Marina and Jumeirah Beach Residence are accessible within approximately ten minutes by road, providing retail, food and beverage, and lifestyle amenity for the building's occupier base.

RISKS AND WATCHPOINTS

freehold ownership in DIC introduces governance complexity, particularly in respect of decisions requiring majority owner approval for building-wide capital expenditure and common area management. TECOM regulatory requirements restrict tenanting to businesses holding or eligible for DIC operating licences, narrowing the addressable occupier pool relative to non-free zone buildings. Service charge costs in freehold building can vary materially between units and should be audited before committing. Building vintage relative to competing DIC product is a medium-term consideration; investors should assess the level of maintenance investment and the owners' committee's approach to refurbishment. Any change-of-use or significant alteration also requires TECOM Authority approval, adding regulatory friction to asset management decisions.

STRATEGIC PERSPECTIVE

Mashreq Building provides a freehold investment proposition within one of Dubai's most established technology free zones, occupying a market position suited to smaller owner-occupiers and entry-level commercial investors seeking DIC exposure. The freehold structure and strata liquidity differentiate it from leasehold campus product within the submarket, though management complexity and TECOM licensing conditions are constraints requiring active management. For technology-sector owner-occupiers, the building provides a recognisable DIC address within a well-established TECOM cluster at a cost point generally below that of comparable product in DIFC or Business Bay. Sustained technology-sector demand within DIC underpins the building's medium-term relevance, subject to competitive pressure from newer supply within the corridor.