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Berkeley Tower 1
Investment Cases›Berkeley Tower
Active case · October 2026
Ellington Properties

Berkeley Tower

By Ellington · Business Bay · On Sheikh Zayed Road
Starting from
AED 4.87M
Payment plan
70/30
Handover
2030
M&M verdict
Register before the launch
The thesis

Why this project.
Why now.

Berkeley Tower is Ellington Properties' new Grade A office tower on Sheikh Zayed Road in Business Bay, beside Business Bay Metro. It rises 60 floors above the ground with 109 freehold offices, from 1,132 sq ft to a 22,191 sq ft triplex headquarters, and gives four whole floors, levels 32 to 35, to the people who work inside. Expressions of interest are open now: Ellington allocates whole and half floors on 29 October and individual offices on 30 October 2026.

Dubai's homes have had five strong years, and many of the owners we advise now want the next purchase to pay them rent. Offices do that best where tenants are short of space. In Business Bay, office rents rose 16% in a year and 93% of office space is let, and the district took 49% of the value of every office sale in Dubai from January to September 2026.

Ellington guides an average of AED 4,300 per sq ft, below the AED 4,902 median at which Business Bay's off-plan offices registered with the Land Department in 2026. HQ by Rove registered at a median of AED 4,699, Omniyat's Lumena at 5,868 and Lumena Alta at 6,130, and Ellington's study puts Lumena and Lumena Alta at 85% sold and HQ by Rove at 75%.

Dubai's best offices are full, and new ones arrive slowly. CBRE puts office occupancy at 94% with prime rents up 16% on a year earlier (Q2 2026), JLL measured prime vacancy at 0.3% in late 2025, and only 39% of the office space planned for 2025 was delivered. Office prices rose 15.1% in a year to H1 2026 and office rents 14.1%. Berkeley Tower's price is set at the launch; the rent is set when your tenant signs in 2030.

New leases at Bay Square, The Oberoi Centre and The Court run at AED 240 to 273 per sq ft a year: a gross yield of 5.6% to 6.3% today at Ellington's average price, and 6.3% to 7.7% in 2030 with rents grown 3% to 5% a year. M&M's own analysis anticipates 9.4% gross in 2030. You pay 70% as the tower rises and 30% on completion, when the office is ready to let.

“A Grade A office on Dubai's main road, priced below the district, with 30% paid when it can earn.”
M&M
M&M Real Estate
Dubai Off-Plan Investment Advisory
Developer
Ellington Properties
Its second office building
Location
Business Bay
Sheikh Zayed Road, beside the Metro
Height
G+60
Four amenity floors, levels 32 to 35
Offices
109
Freehold, 1,132 to 22,191 sq ft
Average price
AED 4,300
Per sq ft, Ellington, 20 October 2026
District median
AED 4,902
Business Bay off-plan offices, 2026, DLD
Floor to ceiling
4.1 m
On every office floor
Payment plan
70/30
30% on completion
Completion
2030
Launch 29 and 30 October 2026
1 / 9
Why we like this case

Reasons we
recommend this.

01
Priced below the district

Ellington's guided average of AED 4,300 per sq ft sits below the AED 4,902 median of Business Bay's off-plan offices in 2026, and below HQ by Rove, Lumena and Lumena Alta.

02
Dubai's main road, beside the Metro

Sheikh Zayed Road frontage, a secondary entrance towards Business Bay Metro, and DIFC and Dubai Mall four minutes away by car.

03
Four floors for the tenants

Co-working on 32, a clubhouse on 33, a fitness floor on 34 and prayer rooms on 35, open to every employee of every company in the tower.

04
Prime rents already proven

New leases at Bay Square, The Oberoi Centre and The Court run at AED 240 to 273 per sq ft a year, against 162 for the district's new office leases.

05
30% paid when it can earn

40% over the first year, 30% in six construction stages and 30% on completion in 2030, when the office is ready for a tenant.

06
Choose first at the launch

EOIs from AED 100,000. Ellington allocates to EOIs paid in full first, then to those with the down payment paid, then to the minimum EOI.

The location

Business Bay.
What we actually think.

Berkeley Tower stands on Sheikh Zayed Road at Business Bay, between Al Mustaqbal Street and Al Khaleej Al Tejari Street, with a secondary entrance towards Business Bay Metro on the Red Line. DIFC and Dubai Mall are four minutes away by car, Dubai World Trade Centre five, Dubai International Airport nine, and Media City and JLT sixteen.

Business Bay is the largest office district in Dubai: 17.1 million sq ft of offices, 93% occupied in Q2 2026. It recorded 814 office sales in H1 2026, more than any other district, and took 49% of the value of Dubai's office sales from January to September.

Its offices averaged AED 215 per sq ft a year in H1 2026, against AED 510 in DIFC and 435 in Downtown. A central address tenants can afford keeps offices let: Business Bay rents rose 25 to 27% in 2025 as companies looked for high-quality space at a lower cost than the main CBD areas (Cavendish Maxwell).

The tower is built for what comes next: a drone delivery port on level 33, readiness for an air-taxi vertiport on level 60, and design to Dubai's Al Sa'fat green building standards. Your clients arrive at a landscaped drop-off with VIP valet, and your car goes into robotic parking you call back from an app.

🚇
Beside the Metro
A secondary entrance towards Business Bay Metro on the Red Line, and frontage on Sheikh Zayed Road.
🏙️
Four minutes to DIFC
DIFC, Burj Khalifa and Dubai Mall are four minutes away by car, and Dubai International Airport nine.
📊
Half of Dubai's office money
Business Bay took 49% of the value of every office sale in Dubai from January to September 2026.
🏢
The largest office district
17.1 million sq ft of offices, 93% occupied in Q2 2026, with 814 office sales in H1.
💼
Under half the DIFC rent
AED 215 per sq ft a year in H1 2026, against 510 in DIFC and 435 in Downtown.
📈
More firms every half-year
DIFC registered 2,318 new companies in H1 2026, more than double the 1,081 of H1 2025, and each one needs an address.
Developer track record
Ellington Properties

Ellington Properties.
The track record matters.

Ellington Properties has made its name on homes in Dubai's central districts, several of them in Business Bay: One River Point, The Quayside and The Crestmark are Ellington addresses in the same district, all marked on Berkeley Tower's location map. Elie Naaman is co-founder and CEO.

In August 2025 Ellington launched its first office building, Eaton Square in MBR City: 11 office floors, each designed for a single tenant, with premium retail, a fitness centre, an executive lounge, on-site daycare and EV charging, and completion set for Q2 2028. At the launch, co-founder Joseph Thomas spoke of "expanding the boundaries of what commercial real estate can offer in Dubai."

Berkeley Tower takes that office product to Business Bay, the district that took 49% of Dubai's office sale value this year. Ellington's Netherlands sales gallery sits in M&M's Breda office, and your instalments go into the project's escrow account under Dubai Law 8 of 2007, released against construction progress.

Aug 2025
Eaton Square launched
Ellington's first office building, in MBR City, with 11 single-tenant office floors
Oct 2026
Berkeley Tower launch
Whole and half floors on 29 October, individual offices on 30 October
Q2 2028
Eaton Square completion
Ellington's completion date for its first office building
2030
Berkeley Tower completion
109 offices on Sheikh Zayed Road, ready for their tenants
3
Ellington addresses in Business Bay
2
Office buildings, Eaton Square and Berkeley Tower
109
Freehold offices in Berkeley Tower
G+60
On Sheikh Zayed Road
M&M
Talk to our team about this case
M&M Real Estate · Dubai Off-Plan Investment Advisory
Book a meeting
Amenities & lifestyle

What tenants
actually get.

Official renders from Ellington Properties. These are the amenity spaces included in the development.

Co-working, work lounge and focus podsSocial hub and rest and recharge roomClubhouse with gaming and vinyl loungesBilliards, air hockey and an outdoor terraceFitness floor with boxing, spinning and PilatesMind and body studioMale and female wellness areasPrayer rooms on level 354,015 sq ft lobby with a double-height receptionMezzanine coffee barDrop-off with VIP valet and conciergeRobotic parking called from an app752 parking spaces and 6 valet baysDrone delivery port on level 33
Floor plans

Layouts and
spatial planning.

Levels 1 to 31 · 8 offices a floor · 1,132 to 1,389 sq ft
Available typologies

What's available
and at what entry.

8 offices
A floor · levels 1 to 31
Size1,132 to 1,389 sq ft
PriceAbout AED 4.87M at the average
PSFAED 4,300 average
AvailabilityAvailable
4 offices
A floor · levels 1 to 31
Size2,502 to 2,867 sq ft
PriceAbout AED 10.76M for 2,502 sq ft
PSFAED 4,300 average
AvailabilityAvailable
3 offices
A floor · levels 1 to 31
Size2,503 to 5,376 sq ft
PriceOn the price list
AvailabilityAvailable
2 offices
A floor · levels 1 to 31
Size5,401 to 5,409 sq ft
PriceOn the price list
AvailabilityAvailable
3 or 4 offices
A floor · levels 36 to 52
Size2,364 to 6,522 sq ft
PriceOn the price list
AvailabilityAvailable
2 offices
A floor · levels 36 to 52
Size5,620 to 5,888 sq ft
PriceOn the price list
AvailabilityAvailable
Whole floor
One office · levels 36 to 52
Size12,182 sq ft
PriceOn the price list
AvailabilityAvailable
Duplex HQ
Levels 54 to 55
Size21,873 sq ft
PriceOn the price list
AvailabilityAvailable
Triplex HQ
Levels 56 to 58
Size22,191 sq ft, with terraces
PriceOn the price list
AvailabilityAvailable
Financial scenarios

Different strategies.
Same asset.

Prime rents today · Business Bay
UnitAny office · new-lease rents of AED 240 to 273 per sq ft a year at Bay Square, The Oberoi Centre and The Court (DLD Ejari 2026)
EntryAED 4,300 per sq ft · Ellington's guided average
Est. yield5.6% to 6.3% gross today, illustrative
Growth thesisWhat Business Bay's Grade A towers already let for, against AED 162 for the district's new office leases. Every AED 10 of rent adds 0.23 of a point of gross yield.
2030 · when your office first lets
UnitThe same three rents, grown 3% and 5% a year to completion
EntryAED 4,300 per sq ft · Ellington's guided average
Est. yield6.3% to 7.7% gross in 2030, illustrative
Growth thesisBusiness Bay rents rose 16% in the last year (Cavendish Maxwell). Your price is fixed at the launch, and the rent is set when your tenant signs in 2030.
Recommended scenario
M&M analysis · 2030
UnitAny office at Ellington's average price
EntryAED 4,300 per sq ft · Ellington's guided average
Est. yield9.4% gross in 2030, M&M analysis, illustrative
Growth thesisOur anticipated yield allows for rent growth to handover and for what Berkeley Tower offers tenants that older towers cannot: four amenity floors, double-deck lifts, robotic parking and a 2030 specification.
One office worked through · Type F
Unit2,502 sq ft with its own 134 sq ft terrace · rent from completion AED 676k to 730k a year
EntryAbout AED 10.76M at the guided average
Est. yield6.3% to 6.8% gross in 2030 at Bay Square's rent, illustrative
Growth thesisBay Square's new-lease rent of AED 240, grown 3% and 5% a year, and more at The Oberoi Centre and The Court. 30% of the price stays with you until completion.

Illustrative scenarios built on the assumptions shown in each one. They are not a forecast, prices can fall as well as rise, and returns are not guaranteed.

The complete report

The full case, prepared for you.

Developer analysis, location deep-dive, the price and our complete thesis, sent straight to your inbox.

M&M VerdictRegister before the launch

We recommend
this case.

Berkeley Tower gives you a Grade A office on Sheikh Zayed Road, beside Business Bay Metro, at an average of AED 4,300 per sq ft, below the AED 4,902 at which Business Bay's off-plan offices registered this year. Four amenity floors, 4.1-metre ceilings, double-deck lifts and robotic parking give tenants reasons to choose it, and Business Bay's Grade A towers already let at AED 240 to 273 per sq ft.

Dubai's best offices are full and new ones arrive slowly. Berkeley Tower completes into that queue in 2030, M&M's analysis anticipates a 9.4% gross yield that year, and you pay the last 30% of the price on completion, when the office can earn.

EOIs are open now: AED 100,000 for a single office, AED 150,000 for a quarter floor, AED 300,000 for a half floor and AED 500,000 for a full floor. Ellington allocates whole and half floors on 29 October and individual offices on 30 October 2026, first to EOIs paid in full, then to those with the down payment paid, then to the minimum EOI. The stronger your EOI, the sooner you choose.

A disclosure: M&M markets units in Berkeley Tower and is paid by the developer on sales.

Suitable for
The Dubai owner
You own apartments here and want rent from businesses. An office adds a company on a commercial lease, and the equity your homes have built can fund it.
The international income investor
Prime Dubai offices have yielded 300 to 500 basis points over prime Europe (Cushman & Wakefield, 2025). Rent you earn personally carries no UAE tax, and 30% of the price stays with you until the office is ready to let.
The business owner
Own the office your company works in. Business Bay rents rose 16% in a year, and buying fixes your occupancy cost with an asset that moves with the district.
Family offices and corporates
Whole floors of 12,182 sq ft, a 21,873 sq ft duplex and a 22,191 sq ft triplex, let to one company. JLL reports that corporate occupiers of prime space now sign leases averaging seven to nine years.
M&M research view
“Tell us your budget, the size you have in mind and whether you will let the office or use it. We take you through Ellington's price list floor by floor, the EOI that secures your choice, the 5% VAT and the cash you need before completion.”
M&MM&M Real Estate · Dubai Off-Plan Investment Advisory