XL Tower is a 25-storey commercial building in Business Bay, Dubai, developed by DAMAC Properties. It stands about 115 metres tall, takes an oval, canal-facing form, and holds fitted, shell-and-core and shared offices above a retail ground floor. In 2026, most offices here trade or lease in the 850 to 1,200 sq ft range, which suits small and mid-sized companies better than large corporate tenants.

This guide explains what the tower is, where it sits, what the offices are like, what recent listings suggest about rents and prices, and what to check before you commit. Figures are taken from live portal listings reviewed between June and September 2026 and from published market reports. Use them as benchmarks, not quotes, because every unit is priced on its own floor, view, fit-out and tenancy status.

XL Tower at a Glance

Attribute	Detail
Building type	Commercial office tower with ground-floor retail
Developer	DAMAC Properties
Location	Marasi Drive, Business Bay, Dubai
Height and floors	About 115 m, 25 floors
Office space	Around 153,000 sq ft on 19 office floors, plus about 8,700 sq ft of ground-level retail (Cushman & Wakefield)
Typical office sizes	Roughly 850 to 1,370 sq ft
Unit types	Fitted, shell-and-core, shared
Amenities	Gym, aerobics room, rooftop oval pool, 24-hour security, high-speed lifts, multi-level parking
Nearest metro	Business Bay Station (Red Line), about a 12-minute walk
Ownership	Freehold (Business Bay is a designated area for foreign ownership)

What Is XL Tower?

The tower is one of the older DAMAC commercial buildings in Business Bay, and its shape is what people remember. Instead of a rectangular slab, it has a curved, oval footprint, so the facade wraps around the floor plates and gives many offices a view toward the water. Listings describe canal views, Burj Khalifa views and “community” views, depending on the floor and side.

A note on dates, because competitors disagree. Bayut and several brokerages state that construction began in 2006 and finished in 2008. Other sources list 2010 or 2011 as the completion year. We recommend treating the building as roughly fifteen years old, which matches how portals label the property age, and confirming the exact handover and title details through the Dubai Land Department (DLD) before a purchase. Age matters here, because it shapes everything from lift performance to air-conditioning maintenance to service charges.

Where XL Tower Sits in Business Bay

Business Bay is the mainland commercial district that wraps around the Dubai Canal and borders Downtown Dubai. It was planned as a business hub with a very large number of towers, and today it mixes offices, residential buildings, hotels and restaurants. XL Tower sits on Marasi Drive, the waterfront road that links into Al Khail Road and gives access to Sheikh Zayed Road.

For a business, the address does two practical things. It places you within minutes of Downtown Dubai and DIFC, and it gives clients a recognisable district name on your licence and letterhead. Both matter when your customers are finance, consulting, legal, trading or technology firms.

Getting There

The closest rail link is Business Bay Metro Station on the Red Line, roughly a 12-minute walk or a five-minute drive. That walk is manageable in winter and unpleasant in summer, so many tenants and visitors take a taxi or a short feeder bus for the final stretch. A bus stop sits about a minute away on foot.

By road, Marasi Drive connects to Al Khail Road, and Sheikh Zayed Road is around ten minutes away in normal traffic. Dubai Mall is about 5 to 10 minutes by car, depending on the time of day, and Dubai International Airport is roughly 20 minutes away. Al Maktoum International Airport is about 40 minutes. Traffic around Business Bay thickens at rush hours, so test your own commute at the time you will actually travel.

Food, Coffee and After-Hours

You will not struggle to feed a team here. The ground floor of the tower has retail units and cafes, and the surrounding streets have a long list of restaurants. Han Cuisine (Chinese), Bombay Brasserie (Indian), Pinza (Italian) and Teatro at Towers Rotana (pan-Asian) are commonly listed within a short walk or drive. For client dinners and evening drinks, the canal promenade, Bay Square and Downtown Dubai are all close.

Inside the Building

Office Types and Sizes

XL Tower offers three formats. Fitted offices are ready to occupy, usually with glass partitions, a pantry area and lighting already in place. Shell-and-core offices are delivered unfinished so the occupier can design the interior. Shared offices combine a private room with access to meeting rooms and a business lounge.

Most units seen in 2026 listings fall between 850 and 1,100 sq ft, with some combined units and larger offices reaching about 1,200 to 1,370 sq ft. Ground-floor and podium retail units are smaller, roughly 577 to 938 sq ft according to Bayut, and work for a showroom, clinic, small shop or service counter.

That size profile is a quiet advantage. Savills reported that 97% of Dubai office leasing transactions in the first quarter of 2026 were below 3,000 sq ft. XL Tower’s typical unit sits right inside the most active slice of the market.

Parking, Lifts and Security

Parking is a real selling point in Business Bay, where many older towers struggle. XL Tower has multi-level parking across podium and basement levels. Bayut cites five levels, while Cushman & Wakefield mentions seven, so confirm the current layout when you view. Many listings advertise one or two allocated spaces with the office, and that is worth verifying in writing because it directly affects staff and client access.

The building has high-speed lifts, round-the-clock security with CCTV, a staffed reception and concierge services. These are standard features of a managed commercial tower, but they matter more than they sound. A building with fast lifts and a responsive management office tends to keep tenants longer.

Gym, Aerobics Room and Rooftop Pool

This is where the tower stands out from many Grade B neighbours. It has a gym, an aerobics room, covered walking and jogging routes around the base, and an oval swimming pool on the roof with views across Business Bay. For a tenant trying to attract and keep staff, a working gym and a rooftop pool are small recruiting advantages. Check access rules and opening hours, because facility use can differ for owners, tenants and visitors.

A Fair Quality Check

Cushman & Wakefield describes XL Tower as a Grade B commercial tower. That is a useful label to keep in mind. Compared with newer Grade A towers in Business Bay or DIFC, expect older finishes, a more modest lobby and less tech-ready infrastructure. In return, you usually pay less per square foot. Whether that trade works depends on your clients: a design studio or a trading firm may care little, while a law firm hosting international visitors may care a great deal.

XL Tower Rents in 2026

Listings reviewed between June and September 2026 show annual rents for fitted and furnished offices clustering around AED 130,000 to AED 195,000, with the exact figure tied to size, floor, view and fit-out.

Size (sq ft)	Condition	Asking rent per year (AED)	Approx. AED per sq ft
About 850	Fitted, canal view, 2 parking	130,000	153
About 897	Fitted or shell-and-core, canal view	100,000 to 130,000	111 to 145
About 940	Fitted, mid floor	150,500 to 170,000	160 to 180
About 1,101	Unfurnished, canal view	195,000	177

Bayut’s building guide gives a wider historical range of about AED 45,000 to AED 220,000 a year, which reflects the span between small units and larger, better-fitted offices. Two points help put these numbers in context. First, Engel & Völkers reported an average of about AED 151 per sq ft for Business Bay offices in May 2026 year-to-date, so XL Tower’s fitted units sit in line with or somewhat above the district average. Second, some landlords offer incentives, such as a listing that advertises 60 days free, so negotiate on both the headline rent and the rent-free period.

XL Tower Sale Prices in 2026

Offices for sale in XL Tower have recently been listed at about AED 1.9 million to AED 2.4 million for fitted units of roughly 1,100 to 1,200 sq ft. That works out at roughly AED 1,700 to AED 1,950 per sq ft.

Size (sq ft)	Description	Asking price (AED)	AED per sq ft
About 1,093	Fully fitted, high floor, Burj Khalifa view	1,900,000	1,738
About 1,101	Fitted, rented, canal-facing	2,100,000	1,907
About 1,209	Fully furnished, community view	2,300,000	1,902

Bayut’s building page shows a long-run price range from about AED 930,000 to AED 3.9 million, which captures both smaller older deals and larger or premium units. Asking prices are not transaction prices. Before you offer, ask your agent for recent DLD-registered sales in the same building and compare them with the asking price.

Is XL Tower a Good Investment?

The honest answer is that it can be, if you buy at the right price and understand the trade-offs.

On the income side, the arithmetic is attractive on paper. An office priced near AED 2.1 million and leasing for about AED 195,000 a year implies a gross yield of around 9%. A unit at AED 1.9 million leasing in the AED 165,000 to AED 185,000 range implies roughly 8.5% to 9.5% gross. These are illustrative figures based on asking prices and asking rents, not guaranteed returns. Net yield will be lower once you deduct service charges, maintenance, vacancy between tenants and, where applicable, VAT treatment on rent. Service charges for older mid-market Business Bay offices are often quoted around AED 13 to AED 18 per sq ft, but the actual figure for your unit should come from the building’s DLD-approved budget.

On the market side, conditions in 2026 have been supportive. Dubai office occupancy has been reported around 94%, and Business Bay led the emirate’s off-plan office market in the first half of 2026 with AED 6.8 billion of sales across 476 transactions, about 52% of total value (Khaleej Times, citing DLD data). Average Dubai office rents were around AED 238 per sq ft in the first quarter, flat quarter on quarter but still up about 14% year on year according to Savills. Demand is concentrated in smaller footprints, which favours XL Tower’s unit sizes.

On the risk side, three issues deserve attention. Around 24 million sq ft of new office supply is scheduled for Dubai between 2026 and 2030, with a lot of it in Business Bay and DIFC, which could slow rent growth. Many tenants are shifting toward modern, high-quality buildings, so older stock may lose ground over time. And a single-unit office carries tenant risk: a vacant unit earns nothing and a re-let can take months. A building with strong parking, a canal address and a competitive rent per sq ft handles those risks better than most, but it does not remove them.

Who XL Tower Suits

XL Tower works best for small and mid-sized businesses that want a Business Bay address, parking for staff and clients, and a lower cost per sq ft than a Grade A tower. Consultancies, trading companies, advisory firms, tech start-ups, real estate brokerages and regional offices of overseas companies make up the typical occupier mix. It also suits investors who want a lower-ticket commercial unit with a reasonable yield and a liquid location.

It is a weaker fit for companies that need large contiguous floor plates, premium lobby branding or the latest smart-building systems. If that describes you, compare it against newer Business Bay towers before deciding.

How to Buy an Office in XL Tower

Foreign nationals can buy freehold commercial property in areas designated by the Ruler of Dubai under Law No. 7 of 2006, and Business Bay is one of them. The process follows a clear sequence.

First, set a budget that includes costs beyond the price. The buyer pays a DLD transfer fee of 4% of the sale price, plus agent commission and registration charges, and commercial sales carry 5% VAT in the treatment described by several industry guides, which registered buyers may be able to recover. Confirm the tax position with an accountant.

Second, shortlist units and inspect them. Check the actual floor, view, parking allocation, fit-out condition and whether the unit is vacant or tenanted.

Third, run due diligence. Ask for the title deed, confirm there is no mortgage or dispute, and request the service-charge statement and any outstanding dues.

Fourth, sign the sale and purchase agreement (Form F), pay a deposit, obtain the developer or management no-objection certificate (NOC) where required, and complete the transfer at a DLD-approved trustee office.

Finally, if you are leasing the unit, register the tenancy contract through Ejari and make sure the tenant holds the right trade licence for the premises.

How to Rent an Office in XL Tower

Renting is simpler. Decide between fitted and shell-and-core, then negotiate the annual rent, the cheque schedule, the rent-free period, parking and fit-out permissions. Confirm that the unit’s permitted use matches your licensed activity, and ask what the service-charge and utilities arrangement is. Register the contract on Ejari after signing. If you take a shell-and-core space, budget for design, fit-out approvals and the time to complete works before you can operate.

Nearby Towers to Compare

If XL Tower does not tick every box, similar Business Bay buildings worth comparing include Belhab Tower, Silver Bay Tower and DAMAC Business Towers, as well as the commercial and residential neighbours around Marasi Drive such as Elite Business Bay. Compare price per sq ft, parking, lift performance, service charges and the quality of the lobby, not just the headline rent.

Frequently Asked Questions

Where is XL Tower located?

XL Tower is on Marasi Drive in Business Bay, Dubai, close to the Dubai Canal and a short drive from Downtown Dubai, Burj Khalifa and Dubai Mall.

Who developed XL Tower?

DAMAC Properties developed XL Tower. It is sometimes called DAMAC XL Tower.

How tall is XL Tower and how many floors does it have?

It is about 115 metres tall with 25 floors. Around 19 floors are offices, and the lower levels include retail and parking.

When was XL Tower completed?

Bayut and several brokerages cite 2008, while other sources give 2010 or 2011. Confirm the exact date through DLD records if it matters to your purchase.

What types of offices are available?

Fitted offices, shell-and-core offices and shared offices. Most units are roughly 850 to 1,200 sq ft.

How much does it cost to rent an office in XL Tower?

Recent listings show about AED 130,000 to AED 195,000 per year for fitted or furnished offices of roughly 850 to 1,100 sq ft, equal to around AED 150 to AED 180 per sq ft.

How much does it cost to buy an office in XL Tower?

Fitted offices of about 1,100 to 1,200 sq ft have recently been listed at around AED 1.9 million to AED 2.4 million, or roughly AED 1,700 to AED 1,950 per sq ft.

What rental yield can I expect?

Based on asking prices and rents, gross yields of roughly 8.5% to 10% are implied. Net returns will be lower after service charges, vacancy and costs.

Is XL Tower close to the metro?

Business Bay Metro Station on the Red Line is about a 12-minute walk or a five-minute drive. A bus stop is about a minute away on foot.

Does XL Tower have parking?

Yes. The tower has multi-level podium and basement parking, and many offices come with one or two allocated spaces. Confirm the allocation for the specific unit.

What amenities does XL Tower offer?

A gym, an aerobics room, covered walking routes, a rooftop oval swimming pool, 24-hour security, concierge services, high-speed lifts and ground-floor retail.

Can foreigners buy an office in XL Tower?

Yes. Business Bay is a designated freehold area, so foreign nationals can own commercial property there, with the purchase registered through the Dubai Land Department.

Does buying an office qualify me for a UAE visa?

Property-based visa eligibility depends on the property type, value and deed. Rules and guidance vary, so confirm with the relevant Dubai authority before buying with a visa in mind.

Is XL Tower a Grade A building?

Cushman & Wakefield describes it as Grade B. It offers solid amenities and a strong location, but it is older than the newest Grade A towers in the district.

Is XL Tower a good investment in 2026?

It can suit investors who buy at a fair price per sq ft, value parking and location, and accept the risks of an older building and rising new supply. Compare recent DLD sales and current service charges first.

Final Thoughts

XL Tower is a practical, well-located office tower rather than a prestige one. Its strengths are the Marasi Drive address, canal views, parking, a useful amenity set and unit sizes that match what most Dubai businesses lease. Its limits are age, a Grade B finish and exposure to a pipeline of new supply. For the right occupier or a price-disciplined investor, that balance can work well.

If you would like current availability, recent registered sales or a shortlist of comparable Business Bay offices, the DubaiPropertyPlus team can walk you through the options.

Last reviewed: 2026. Prices and rents are indicative and drawn from public listings and market reports. Verify details with the Dubai Land Department and a licensed agent before making any decision.