THE LX BY MULK

OVERVIEW

The LX by Mulk is an off-plan commercial development by Mulk Holdings in collaboration with Prospect, located in Arjan, Dubailand. Configured as basement plus ground plus six commercial floors plus a rooftop, the building will deliver 71 shell-and-core office units ranging from approximately 944 to 3,000 square feet, with half-floor options of approximately 10,500 square feet and full-floor options of approximately 21,000 square feet. Two large-format retail units of approximately 13,000 square feet each occupy the ground floor. Total built-up area is approximately 110,000 square feet. Pricing commences from AED 1,871 per square foot on a 60/40 payment plan, with handover targeted for Q3 2027. The building carries DED mainland licensing.

OFFICE STOCK AND TENANT PROFILE

The LX by Mulk will deliver 71 shell-and-core office units across six commercial floors, with sizes from approximately 944 to 3,000 square feet per unit, and half-floor and full-floor options of approximately 10,500 and 21,000 square feet respectively. The building carries mainland DED licensing. Design features include floor-to-ceiling glazing, private balconies on selected units, a double-height arrival lobby, 234 dedicated parking spaces, and five high-speed passenger lifts. The two ground-floor retail units provide approximately 26,000 square feet in aggregate, targeted at food and beverage, wellness, or showroom operators to generate building-level footfall and occupier convenience.

RENTAL MARKET

As an off-plan development, The LX by Mulk has no established rental market at the time of writing. Indicative projections based on a gross yield approach suggest a conservative gross return of approximately 8 percent on acquisition price — approximately AED 150 per square foot per annum — a practical scenario of 10 percent (approximately AED 200 per square foot per annum) and an optimistic scenario of 12 percent (approximately AED 225 per square foot per annum). Commercial yields in Dubai are structurally higher than residential, supported by shorter lease cycles and strong occupier demand in a supply-constrained market. Actual returns will depend on market conditions at handover and quality of occupier secured. Independent rental appraisal is strongly recommended prior to any acquisition commitment.

SALES MARKET

The LX by Mulk units are offered for sale off plan on a freehold basis, priced from AED 1,871 per square foot on a 60/40 structure — 60 percent payable during construction and 40 percent on Q3 2027 handover. Units are individually strata-titled. Purchasers should verify Mulk Holdings' DLD project registration and escrow arrangements before committing funds. The entry price is materially lower than established central business district office developments, reflecting both the emerging Arjan commercial market and the building's suburban mid-rise positioning. Independent legal and commercial property advice is strongly recommended, including an assessment of whether entry pricing appropriately reflects submarket risk and the speculative nature of achievable rents at delivery.

LOCATION AND ACCESS

The LX by Mulk is located in Arjan, Dubailand, with road access via Sheikh Mohammed Bin Zayed Road, Al Khail Road, and Umm Suqeim Road. Dubai Hills Estate is approximately 8 minutes by road; Mall of the Emirates is approximately 12 minutes; Dubai Marina is approximately 20 minutes. No metro station is currently operational within Arjan; a planned extension along Umm Suqeim Road has been outlined within the Dubai Metro expansion programme, with no confirmed opening date. Dubai International Airport is approximately 25 minutes under typical traffic conditions. Mediclinic Parkview Hospital and a number of schools are within the immediate area, supporting local catchment for professional and medical occupiers.

RISKS AND WATCHPOINTS

The LX by Mulk is an off-plan development subject to construction and delivery risk; the Q3 2027 completion target is contingent on contractor performance and regulatory approvals. Purchasers should verify DLD project registration, escrow account status, and Mulk Holdings' delivery track record before committing. The Arjan commercial office market is at an early stage: residential density is high but purpose-built commercial occupier demand is limited, and achievable rents will depend on market conditions in 2027. The absence of an operational metro station constrains the accessible occupier catchment. Two large retail units totalling approximately 26,000 square feet will require an active leasing strategy; sustained ground-floor vacancy would negatively affect the building environment and investor returns.

STRATEGIC PERSPECTIVE

The LX by Mulk targets mid-market investors and owner-occupiers seeking freehold commercial strata in Arjan at a low entry price relative to central Dubai. The building's mainland DED licensing, mixed-use ground floor, and scalable floor plate sizes support a broad occupier base. The investment case rests on Arjan's continued residential densification and the maturation of suburban commercial demand by 2027. The combination of low entry price and high implied yield projections will attract value-driven buyers, but the early-stage submarket, absence of metro access, and dependence on residential-driven rather than institutional demand warrant conservative assumptions in acquisition underwriting and post-handover income projections.