OBC is experiencing a shift in tenant demographics amid a changing office usage landscape
Increased demand drives OBC’s expansion into Emaar Square, Downtown Dubai
Dubai, United Arab Emirates, September 19, 2022 /PRNewswire/ — Prior to 2020, the general belief was that offices were critical to productivity, culture and advancing the talent war as companies competed for office space in major cities around the world. But today, when uncertainty, cost savings, flexibility, agility and resilience are buzzwords across industries, companies are downsizing their real estate portfolios. As a result, flexible office space is emerging as the optimal solution for the changing business landscape.
One Business Center (OBC), a company created to foster entrepreneurial success by offering company incorporations, private offices and coworking spaces Dubaihas recently experienced a profound shift in its customer occupancy demographics, even planning to expand its current space to 100,000 square feet by the end of next year.
Previously home to start-ups, entrepreneurs and temporary local clients, OBC is now the address of choice for a growing number of SMEs and global multinationals that have scaled down in size since 2020. These two groups now make up 60% and 25% respectively of OBC’s current clientele at its prime locations in Jumeirah Lake Towers and Dubai Media City.
A recent CBRE report shows this Dubai Office rents are rising faster than in new York and London and the value of prime office rents rising 7% in H1 2022, demand for flexible space in key business districts is at an all-time high. With this, OBC expands its portfolio by a third location – It will be the first business center to open at Emaar Square, home to multinational corporations, leading local and regional companies, financial institutions and consulting firms. OBC on Level 7 Emaar Square Building 6 will open mid October 2022.
Abir MusaManaging Director at OBC, says: “We have seen a significant shift in our clients’ occupancy in recent years, with more established SMEs and international corporations looking to change their office environment to respond to the need for more diversified business models and more flexible working practices. Because the business center model offers an easy transition to a fully functional office from day one, many companies have realized that the transition is easy and cost-effective. In response to this increasing demand, we are now expanding our own real estate portfolio to a new location on Emaar Square in the heart of Downtown Dubaiand right next to DIFC, where our clients will be in the company of leading international, regional and local finance, consulting and accounting firms.”
Emaar Square spans six buildings, with direct access to a central street corridor that leads to all Dubai’s Main roads including Sheikh Zayed Street, Al Saa‘da Street and Al Khail Road; as well as covered pedestrian connections for access to the Dubai Mall and the Dubai Mall Metro.
OBC offers plug and play business solutions and adds another premium location in Emaar Square to an existing collection of prime after-working spaces, in One JLT and Media One Tower, two of them Dubai’s important business districts.
For more information on what One Business Center has to offer, visit: www.onebusinesscentre.com.
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SOURCE One Business Center