ONYX TOWER 2

OVERVIEW

Onyx Tower 2 is a 24-storey mixed-use building developed by Ishraqah, completed in 2017 and located beside Emaar Business Park in the Al Barsha Heights and The Greens cluster. The building is the second tower in the Onyx by Ishraqah complex and combines 129 commercial offices on the lower floors with 169 freehold residential apartments on the upper floors. It is interconnected with Onyx Tower 1 and Zabeel House by Jumeirah via a shared two-level podium housing retail and F&B outlets. The 2017 completion makes it among the newer commercial freehold assets in Al Barsha Heights, and the Ishraqah development brings a hospitality-influenced amenity standard to the shared facilities.

OFFICE STOCK AND TENANT PROFILE

Onyx Tower 2 contains 129 offices spread across ten commercial floors (floors 2 to 11), with 14 offices per floor. Units range from approximately 1,000 to 3,000 square feet and are available in shell and core, fitted, and fully furnished configurations, each with private pantry and bathrooms. Floor-to-ceiling double-glazed windows provide views of Emirates Golf Club, Sheikh Zayed Road, and The Greens. The mixed-use format and Zabeel House hotel connectivity attract businesses that value a live-work environment and a freehold Sheikh Zayed Road-adjacent address. The hotel podium connection provides occupiers with direct access to hotel F&B and meeting facilities.

RENTAL MARKET

Rental rates at Onyx Tower 2 reflect the 2017 delivery specification, freehold structure, and the comprehensive amenity package shared with the wider Onyx complex. Service charges are published by the Dubai Land Department at approximately AED 11.73 per square foot per annum — towards the higher end of the Al Barsha Heights price range — and should be factored into total occupancy cost calculations. The mixed-use configuration and Zabeel House by Jumeirah hotel connectivity support a premium rental positioning relative to older TECOM freehold stock, with the 2017 vintage specification sustaining demand from quality-conscious occupiers.

SALES MARKET

Units in Onyx Tower 2 are sold and leased on a freehold basis through registered brokers. The freehold structure enables long-term capital ownership for owner-occupiers and investors. The 2017 specification, prime location beside Emaar Business Park, and Ishraqah branding support investor confidence and capital value stability above the Al Barsha Heights freehold average. The relatively modest commercial unit count of 129 offices limits secondary market volume compared to larger freehold building, which can affect transaction frequency. Current pricing and availability should be confirmed directly with registered brokers active in the submarket.

LOCATION AND ACCESS

The building is located on Sheikh Zayed Road (E11) beside Emaar Business Park, with direct highway access and strong visibility from the main arterial road. Dubai Internet City Metro Station on the Red Line is approximately a 3-minute drive, providing direct rail connectivity to Business Bay, Downtown Dubai, and Dubai Marina. The surrounding area provides access to Dubai Internet City and Dubai Media City within 10 to 15 minutes by road. The Sheikh Zayed Road location provides stronger road visibility and highway accessibility than buildings positioned within the TECOM internal road network.

RISKS AND WATCHPOINTS

The mixed commercial-residential freehold ownership structure introduces management complexity, with commercial and residential owners holding differing priorities on building-wide decisions that require effective owners' association governance. The service charge of approximately AED 11.73 per square foot per annum is towards the higher end of the Al Barsha Heights range and must be factored into total occupancy cost comparisons against lower-charge freehold alternatives. The 129-office commercial component is relatively modest in scale, limiting the depth of the shared commercial occupier community. Occupiers should confirm the quality of strata management and the condition of shared amenity facilities before committing. Buyers and lessees should verify the quality of strata management across both commercial and residential use types and assess the owners' association's financial position.

STRATEGIC PERSPECTIVE

Onyx Tower 2 is one of the more amenity-rich freehold office options in Al Barsha Heights, with the Zabeel House by Jumeirah hotel connectivity and the Ishraqah complex spa and pool infrastructure providing a hospitality-influenced environment that meaningfully differentiates it from standard TECOM freehold stock. The 2017 delivery vintage and Sheikh Zayed Road-adjacent location provide a specification and address premium relative to older TECOM internal-road buildings. The service charge is above the TECOM average and must be incorporated into the total cost comparison with competing options. For occupiers who value hospitality-standard amenities, a live-work environment, and a visible Sheikh Zayed Road address, it is a compelling mixed-use proposition within Al Barsha Heights.