The Rice network will launch a 23,900 sq. ft (2,200 sq. m) serviced office in the H Tower hotel and office complex in Dubai. The flexible space will occupy two floors in the building and will be designed for 316 workplaces. It is Rice’s seventh facility in the UAE and the sixth in Dubai. Bright Rich | CORFAC International acted as a leasing consultant for the transaction.
Rice is a major serviced office operator in the UAE market. It operates six serviced offices in Dubai and Abu Dhabi with a total area of over 100,000 sq. ft (more than 10,000 sq. m), which include more than 1,800 jobs. Unlike other Rice projects, the new service office in the H Tower will include not only large office blocks, but also small offices for 4-5 people. The opening of the flexible space is scheduled for autumn 2025.
“When entering the Dubai market, international companies face difficulties in finding an office due to low vacancy rates in key business locations. Even before the construction began, one of the two floors in our space in the H Tower was leased out, indicating the demand for new projects. A serviced office helps you avoid capital expenditures when opening a branch in the UAE and provides flexibility for future business expansion. We are currently exploring locations for new sites in the UAE and Saudi Arabia”, notes Vladimir Shvetsov, Managing Partner of the Rice serviced office network.
“There is a shortage of high-quality supply in Dubai, particularly in the large office block segment. The market mainly offers space in obsolete buildings that fall under class B. In these conditions, serviced offices offer a solution for tenants, allowing them to occupy a modern, renovated space in the required location, corresponding to their price” – assumes Victor Zaglumin, co-founder and partner of Bright Rich | CORFAC International.
The H Tower is located in a sought-after business location near the Dubai World Trade Centre and the Dubai International Financial Centre. The property has good transport accessibility with Sheikh Zayed Road – Dubai’s main transport artery – and two metro stations located nearby. The building houses a parking lot, cafes, restaurants, a fitness club and a conference hall.
