Key Takeaways
- Grade A office occupancy in Dubai currently sits at approximately 97%.
- Average entry price is AED 4,100 per sq.ft with 10-15% projected ROI.
- The 50/50 payment plan is structured for high return on equity (ROE).
- Direct Al Khail Road connectivity bypasses core Business Bay congestion.
The Macro Thesis: Dubai’s Commercial Squeeze
Dubai is facing a critical shortage of high-spec commercial space. Grade A occupancy is hovering at 97%. Most existing stock is aging. Large-scale multinationals and high-growth SMEs are struggling to find floorplates that meet ESG and modern technical standards. The D33 agenda aims to double the economy. This requires physical square footage that doesn't currently exist. Haus of Tenet enters this supply-demand gap. It targets the upper echelon of the market. We view this as a hedge against residential volatility. Commercial leases are longer. They offer more stability. This is a play on Dubai's permanence as a global financial hub.
Core Metrics
Entry Price: Approximately AED 4,100 per sq.ft. Payment Plan: 10% booking, 40% during construction, 50% on completion. Handover: Q2 2028. Total Office Clusters: 87. Parking: 600 bays. Elevators: 18. This density-to-infrastructure ratio is superior to older Business Bay towers.
The Bull Case: Why We Like It
Location is the primary driver here. It sits with direct access to Al Khail Road. This avoids the internal gridlock of Business Bay. High-net-worth tenants value time over all else. The unit mix is versatile. It offers classic offices and exclusive 'Garden' and 'Terrace' offices. These outdoor integrations are rare in Dubai commercial real estate. They command a rental premium. The 'Museum of Tenet' concept adds a layer of cultural equity. This attracts high-profile family offices and boutique firms. We anticipate an ROE of 50%+ upon handover for those utilizing leverage.
The Bear Case: Who Should Pass
Pass on this if you need immediate cash flow. Handover is 2028. You are locking up capital for three years. These units are shell and core. This means you or your tenant must fund the fit-out. If you lack the liquidity for CAPEX post-handover, this is the wrong asset class for you. This is also not for small-scale flippers. This is a long-term yield play. It requires a sophisticated approach to tenant management. If you prefer the simplicity of residential short-term rentals, look elsewhere.
The North Capital Verdict
Haus of Tenet is a strategic acquisition for capital preservation. It offers a clear exit path to institutional buyers looking for entire floors. The pricing reflects its Grade A status and the IRTH Group's focus on quality. We recommend this for investors seeking to diversify away from the saturated residential market. To run the exact ROI projections for your specific budget, or to review the floorplans before the public launch, request a strategy session below.
Frequently Asked Questions
What is the projected net yield for Haus of Tenet in 2028?
Based on current Grade A scarcity and D33 growth, we project net yields between 10% and 15% for early-stage investors.
How does Haus of Tenet compare to DIFC commercial rates?
At AED 4,100 per sq.ft, Haus of Tenet offers a significant arbitrage opportunity compared to DIFC's premium price points, while offering mainland leasing flexibility.
Is the 50% handover payment mortgageable for international investors?
Yes. The payment structure is designed to be mortgage-friendly for both local and international capital at completion.