On April 22, 2026, Dubai Multi Commodities Centre announced the launch of One Uptown Place and Two Uptown Place — two commercial towers that will add 560,000 square feet of Grade A office space to Uptown Dubai, pushing the district's total commercial footprint past 1 million square feet. Formal leasing is expected to open in the second half of 2026. Completion is targeted for the first quarter of 2028. Oplus International Realty tracks DMCC's commercial market as part of our Dubai investment advisory — here is what the announcement contains and why it matters.
What DMCC and Uptown Dubai Are
DMCC — Dubai Multi Commodities Centre — is a free zone established by the Government of Dubai. It operates as an international business district, providing companies with licensing, registration, and workspace solutions under a framework designed to facilitate global trade. DMCC is the world's largest free zone by registered company count.
Uptown Dubai is DMCC's flagship mixed-use district, positioned as the southern gateway to Dubai's main commercial corridor. The district integrates Grade A office space with residential towers, hospitality, and retail. Its first major commercial tower, Uptown Tower — designed by Adrian Smith + Gordon Gill — was entirely pre-leased before handover, a market signal that shaped DMCC's decision to expand supply.
The addition of One Uptown Place and Two Uptown Place takes Uptown Dubai's office capacity beyond 1 million square feet for the first time. The district was conceived as a next-generation business hub, and this expansion reflects the demand pressure that has built across Dubai's Grade A free zone office market since 2022.
One Uptown Place and Two Uptown Place — The Verified Specifics
Both towers were announced by DMCC on April 22, 2026, via the official DMCC website and UAE Media Office.
One Uptown Place rises 21 storeys. Two Uptown Place rises 15 storeys. Together they add more than 560,000 square feet of Grade A office space and 82,000 square feet of retail space, making the combined development a genuinely mixed-use addition to the district rather than a standalone office block.
Office configurations across the two towers range from 2,100 square feet — suited to smaller tenants entering the DMCC ecosystem — up to 17,600 square feet for floor-plate occupiers. Select floors offer multi-level layouts connected by internal private staircases, a format designed for larger organisations that want physical cohesion across connected teams without taking separate floors in separate buildings.
The architect is Brewer Smith Brewer Group. Building specifications include floor-to-ceiling glazing, 13 destination-controlled elevators, and inter-floor connectivity for larger tenants. Over 1,600 parking spaces with valet services are included, and a dedicated shuttle connection to the Dubai Metro will operate from the development. Both towers are targeting LEED Gold certification, incorporating energy- and water-efficient systems, solar-controlled glazing, and enhanced indoor air quality standards.
As of April 22, 2026, DMCC is accepting expressions of interest from prospective tenants. Formal leasing will open in the second half of 2026. Lease rates have not been published at the time of this article — Oplus cannot confirm pricing ahead of formal leasing, and interested businesses should register directly with DMCC to receive terms when leasing opens.
Why This Launch Matters — The Supply Context
Covering this as a straight announcement misses the point. The reason DMCC can accept expressions of interest more than 18 months before completion is the structural condition of Dubai's Grade A office market.
Uptown Tower — DMCC's previous major commercial delivery — was fully pre-leased before it physically handed over. That is not a coincidence or a one-off. Dubai's Grade A free zone office occupancy has been running at historically tight levels. Demand from financial institutions, fintech firms, digital asset companies, and multinational trading operations has exceeded the pace of new supply delivery across the city's premium commercial districts.
DMCC's expansion of its FinX and Wealth Hub ecosystems has deepened the concentration of finance and technology firms seeking DMCC-licensed premises specifically. These are not generic office occupiers who will take any available Grade A space in any district. They are sector-specific businesses for whom DMCC licensing, the free zone framework, and co-location with counterparties in the same ecosystem are operational requirements.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, stated at the launch: "Businesses are increasingly prioritising environments that combine connectivity, flexibility and access to capital and markets." The phrasing is careful. These tenants are not simply looking for square footage — they are looking for an address inside an operating ecosystem.
From a commercial real estate perspective, this is the difference between a tower being built into demand and a tower being built on speculation. One and Two Uptown Place fall into the first category. That is the context the announcement itself does not need to state, but investors and tenants evaluating the launch should understand it clearly.
What This Means for Prospective Tenants
There are two categories of business for whom this announcement is directly relevant.
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Contact us via WhatsAppCompanies already operating within DMCC that need to expand their footprint will see One and Two Uptown Place as the next generation of premises within the ecosystem they are already licensed in. The integration with the broader Uptown district, the shuttle to the metro, and the multi-level floor configurations are designed for this profile. Reaching out to DMCC's leasing team during the expressions of interest phase — before formal leasing opens in H2 2026 — is the practical next step.
Companies evaluating a DMCC free zone entry will find the launch useful context, but should be clear-eyed about timeline: completion is Q1 2028. For businesses that need to be operational this year or early next year, the existing DMCC portfolio — including JLT towers — remains the relevant search space. One and Two Uptown Place serve medium-term planning horizons.
For Oplus clients evaluating Dubai commercial property as an investment rather than an occupancy decision, the pre-leasing demand signal at Uptown Place is consistent with what commercial investors in Dubai's Grade A free zone market have been tracking: limited new supply meeting concentrated sectoral demand.
Explore DMCC-adjacent commercial and investment properties in Dubai through the Oplus portfolio, or consult the Oplus Dubai investment guide for a broader view of Dubai's commercial and residential market conditions in 2026.
One Common Misconception Worth Addressing
Several news reports covering this launch describe it as DMCC "expanding into luxury commercial." That framing understates what is actually happening. The Uptown Dubai expansion is not about the luxury positioning of the buildings — it is a supply response to documented demand that has been outrunning Grade A free zone delivery for three years. The LEED Gold target, the shuttle to the metro, and the private staircase connections between floors are functional specifications for sophisticated occupiers, not marketing features. Companies evaluating this space should assess it as a working commercial environment first, and an address second.
Frequently Asked Questions
DMCC — Dubai Multi Commodities Centre — is a free zone established by the Government of Dubai. Businesses licensed within DMCC can operate under a framework allowing 100% foreign ownership, zero corporate tax on qualifying income, and 0% import and export duties, subject to UAE Corporate Tax rules. Uptown Dubai is the flagship district within the DMCC free zone, not a separate legal entity.
Formal leasing is expected to open in the second half of 2026, according to DMCC's official April 22, 2026 announcement. DMCC is currently accepting expressions of interest. Lease rates have not been published. Interested parties should contact DMCC directly at dmcc.ae.
Completion is targeted for the first quarter of 2028, per DMCC's official announcement.
Office spaces range from 2,100 square feet to 17,600 square feet per the official DMCC announcement. Select floors offer multi-level integrated layouts connected by private staircases, aimed at larger occupiers wanting physical cohesion across teams without separating onto unconnected floors.
Both towers are targeting LEED Gold certification, incorporating energy- and water-efficiency systems, solar-controlled glazing, and enhanced indoor environmental quality standards, as stated in the official DMCC announcement.
DMCC has confirmed a dedicated shuttle connection to the Dubai Metro as part of the development's transport infrastructure. The nearest metro station to the broader Uptown Dubai district is DMCC Metro Station on the Red Line.
One Uptown Place rises 21 storeys and Two Uptown Place rises 15 storeys. Both buildings are part of the same twin-tower development and share the same site amenities — the 1,600-plus parking spaces, the metro shuttle, and the retail component. DMCC has not publicly differentiated the two towers by sector focus or tenant profile. Both are designed for a spectrum of occupiers from fast-scaling firms to multinational corporates.
DMCC has confirmed active development of three sector-specific ecosystems within Uptown Dubai: FinX, targeting fintech platforms, alternative lenders, and digital asset companies; the Wealth Hub, targeting financial institutions and capital markets firms; and the Maritime Centre. These ecosystems anchor the demand for the new commercial supply the twin towers will provide.
Written by: Oplus International Realty Editorial Team
About Oplus: Licensed UAE real estate brokerage based in Abu Dhabi, covering Abu Dhabi and Dubai off-plan, secondary market, and investment properties. RERA registered. oplusrealty.com
Last reviewed: April 23, 2026
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Consult a RERA-licensed professional before any property decision.
Sources DMCC — Official launch announcement, One Uptown Place and Two Uptown Place, April 22, 2026 (dmcc.ae) UAE Media Office — Official WAM press release, April 22, 2026 (mediaoffice.ae) DMCC — Uptown Dubai district overview (dmcc.ae)