The Citadel Tower is a 48-storey freehold commercial office building located in Business Bay, Dubai. Developed by Deyaar Development PJSC and completed in January 2010, the tower stands 201 metres tall on Al Aamal Street, close to Sheikh Zayed Road and the Business Bay Metro Station. The building provides 406 strata-titled office units spread across a total office area of 565,000 sq ft, along with 29,000 sq ft of ground-floor retail space. The project configuration consists of three basement parking levels, a ground floor, a mezzanine, six podium floors dedicated to parking, and 41 upper office floors.
Completed
Business Bay · Office
The Citadel Tower
48-storey, 201m freehold office tower by Deyaar on Al Aamal Street, completed 2010.
- Developer
- Deyaar Development PJSC
- Floors
- 48
- Completed
- 2010
- Ownership
- Freehold
Commercial Building
Overview
Office stock
The Citadel Tower offers three primary unit configurations: shell-and-core offices for occupiers requiring a bespoke fit-out, fitted offices for tenants seeking a ready-to-occupy solution, and shared or serviced office formats available through operators within the building. Individual unit sizes range from approximately 220 sq ft for compact single-room suites to approximately 10,000 sq ft for full or partial floor configurations, with the most commonly transacted sizes sitting in the 887 sq ft to 1,198 sq ft band. The tower also has full-floor opportunities with individual plates of approximately 9,515 sq ft, suitable for mid-sized corporate occupiers.
Rental rates
Office rents at The Citadel Tower are currently quoting in the range of AED 160 to AED 220 per sq ft per annum for standard fitted units, with premium furnished and high-floor units achieving AED 240 to AED 480 per annum for larger configurations. The most actively traded size band of 887 to 1,198 sq ft typically lets in the AED 160,000 to AED 200,000 per annum range. Rents across the building have increased approximately 8 to 10 percent over the past twelve months, reflecting tightening vacancy and strong demand from small to mid-sized professional services firms seeking ready-to-occupy space in Business Bay.
Sales prices
Strata office units at The Citadel Tower are currently transacting at AED 1,800,000 to AED 3,300,000 for the commonly traded 887 to 1,198 sq ft configurations, equating to approximately AED 1,600 to AED 2,400 per sq ft. Larger units and full-floor configurations attract asking prices of AED 12,000,000 to AED 23,000,000, with sale prices up approximately 14 percent over the past six months. Gross rental yields for buy-to-let investors currently sit in the range of 6 to 8 percent annually, making the tower an attractive proposition for investors seeking stable income from a well-established, high-occupancy commercial building in central Dubai.
Location and access
The Citadel Tower is located on Al Aamal Street in Business Bay, approximately 500 metres from the Business Bay Marine Transport Station and within a short drive of the Business Bay Metro Station on the Red Line. Sheikh Zayed Road is directly accessible via the nearby interchange, providing fast connections to DIFC, Downtown Dubai, and Dubai International Airport. The building provides three basement levels of parking accommodating up to 1,374 cars, with additional visitor parking on the podium levels. Bus services along Al Aamal Street supplement metro connectivity for tenants and visitors travelling from across the city.
Risks
The Citadel Tower is a 2010-vintage building and some units will require refurbishment investment before re-letting, particularly shell-and-core units that have not been fitted out by previous owners. The freehold ownership structure means service charge collection and building management can be inconsistent, and buyers should conduct due diligence on arrears and reserve fund levels before acquiring units. Competition from newer Grade A towers in Business Bay and DIFC may place a ceiling on achievable rents for mid-floor and lower-floor units. Buyers should also note that the building's age means mechanical and electrical systems are approaching mid-life replacement cycles, which could result in above-average service charge increases in the medium term.
Perspective
The Citadel Tower is a solid mid-market commercial proposition for investors and occupiers seeking freehold office exposure in Business Bay at a price point below the newest Grade A product. The building's established occupancy, broad unit size range, and competitive entry-level pricing make it particularly well suited to small business owners looking to purchase their own office and escape the rental cycle. For investors, the combination of strong rental demand, rising rents, and a sub-AED 2,000 per sq ft acquisition cost for standard units offers a credible income return in the context of current market conditions. The age of the building and the strata management dynamic require careful due diligence, but for buyers who do their homework, The Citadel Tower represents one of the more liquid and accessible commercial investment opportunities in the district.
Location
The Citadel Tower — Business Bay, Dubai
