Concord Tower

TL;DR: Concord Tower is a landmark 40-storey Grade A commercial skyscraper in Dubai Media City, developed by 32 Group and completed in 2007. With over 557,000 sq ft of leasable office space, 1,339 parking spaces, and unique amenities including rooftop gyms, a swimming pool, sauna, and jacuzzi, it stands as one of the most distinctive office towers in the emirate. Annual rents range from AED 86,000 to AED 581,000, with approximately 139 companies in residence.

Introduction

Concord Tower stands as one of Dubai Media City's most architecturally distinctive and operationally mature commercial office buildings. Developed by 32 Group — the international conglomerate founded and chaired by Majid Pishyar — this 40-storey cylindrical glass tower was completed in 2007, making it one of the pioneering Grade A office developments within the Dubai Media City (DMC) free zone. Situated at 189, King Salman Bin Abdulaziz Al Saud Street in Al Sufouh 2, the tower has established itself as a premium corporate address for media, technology, and creative industry professionals, housing approximately 139 companies across its 33 commercial floors.

It is important to note that Concord Tower in Dubai Media City is an exclusively commercial office building and should not be confused with the similarly named Concorde Tower (note the 'e') in Jumeirah Lake Towers, which is a 45-storey mixed-use residential and commercial development also by 32 Group, completed in December 2008. The DMC Concord Tower contains no residential apartments — it is purpose-built for corporate tenancy.

Location and Connectivity

Concord Tower occupies a prime position within Dubai Media City, the TECOM-managed free zone spanning approximately 200 hectares that is home to over 2,000 registered companies in the media, broadcasting, publishing, digital, advertising, and creative industries. The tower sits directly on King Salman Bin Abdulaziz Al Saud Street (formerly Al Sufouh Road), the primary coastal corridor connecting Dubai Marina to Palm Jumeirah.

Transport connectivity is exceptional. Dubai Internet City Metro Station on the Red Line is approximately a 2-minute walk from the tower, serving approximately 27,000 passengers daily and up to 35,000 during peak events. The Dubai Media City Tram Station on the Al Sufouh Tram line is directly opposite the building, providing seamless connections to Palm Jumeirah Monorail and Dubai Marina. A covered pedestrian footbridge links the tram to the metro network. Multiple RTA bus stops serve the immediate vicinity, including Royal Mirage Hotel 2 (4 minutes walk) and Infotech Dubai Internet City (5 minutes walk).

By road, the tower offers direct access to Sheikh Zayed Road (E11), Dubai's main arterial highway. Dubai International Airport is approximately 26–27 kilometres away (26–30 minutes drive), while Al Maktoum International Airport is approximately 35–36 kilometres (33–36 minutes). Dubai Mall is approximately 18 minutes by car, and Palm Jumeirah's hospitality hub, including the One & Only Royal Mirage just 350 metres from the tower, is approximately 10 minutes away.

Building Specifications

Concord Tower's cylindrical glass architecture is designed to maximize natural light penetration and provide 360-degree panoramic views from every floor. The building comprises approximately 48 levels in total: three basement parking levels (B1–B3), a parking podium from ground to the 5th floor, and commercial office floors spanning the 6th through 38th floors — yielding 33 dedicated office levels.

The tower delivers between 557,527 and 600,000 sq ft of total leasable area, as confirmed across multiple industry databases including GBIG and Colliers International. Individual floor plates range from 12,000 to 16,000 sq ft, enabling both single-tenant full-floor occupancy and multi-tenant subdivision. Office units range from agile 1,000 sq ft suites suitable for startups and small enterprises to expansive 6,460 sq ft corporate floors for multinational headquarters. Retail spaces on the lower levels range from 1,500 to 5,922 sq ft, and storage units are available from 500 sq ft.

The building's parking infrastructure is among the most generous in Dubai Media City, with 1,339 dedicated spaces delivering a ratio of approximately 1 space per 500 sq ft of office area — a significant advantage in a district where parking capacity is frequently cited as a constraint. Six passenger elevators serve the building, and the entire structure is built with reinforced concrete to the highest commercial-grade specifications. Floor-to-ceiling windows throughout provide sweeping views of Palm Jumeirah, Burj Al Arab, Dubai Marina, and the Sheikh Zayed Road skyline.

Amenities and Lifestyle Facilities

What truly distinguishes Concord Tower from virtually every other commercial office building in Dubai is its extraordinary lifestyle amenity offering. In an unprecedented approach for a pure office tower, the building provides its tenants with:

• Two fully-equipped rooftop gymnasiums operated by UFS Fitness Center, featuring state-of-the-art equipment and complimentary personal training sessions for building tenants, accessed via an integrated card system linked to Concord Tower ID cards
• Shared outdoor swimming pool — an amenity almost unheard of in commercial office developments
• Sauna and jacuzzi facilities providing spa-level relaxation within the workplace environment
• Prayer room for residents of all faiths
• 24-hour concierge services with multilingual staff
• 24/7 CCTV security and professional security guards
• Advanced intercom system integrated into all units
• High-speed internet and backup power systems
• Staffed reception and business centre with meeting rooms and equipped lounges
• Parking and valet services managed by HalaPark technology-enabled systems

The ground floor functions as a self-contained service hub for tenants, with confirmed occupants including Stripes Supermarket, Speedway Restaurant, Coco Ma restaurant, Talabat Kitchen catering, Curl and Sparkle ladies' salon, Anna Spa, on-site ATM facilities, and a Careem Quik distribution centre. This integrated ground-floor ecosystem means tenants can access dining, personal care, grocery shopping, and logistics services without leaving the building.

Office Configurations and Rental Rates

Concord Tower offers maximum flexibility across its office configurations. Units are available in fitted, open fitted, unfurnished, and serviced/managed formats to accommodate diverse corporate requirements. Austria Business Center operates a premium serviced office facility on the 10th floor, offering fully equipped workspaces from AED 3,000 per person per month and coworking memberships from AED 1,000 per person per month. Office Freedom provides an additional serviced option on the 6th floor, with rates from AED 1,500 per person per month across 79 units with a 75 sq ft per person allocation.

Direct lease annual rents range from AED 86,000 to AED 581,000, with per-square-foot rates typically falling between AED 80 and AED 120 for standard units. Higher-floor fitted offices and premium configurations align more closely with the broader Dubai Media City market average of AED 160 to AED 240 per sq ft annually. Retail spaces command annual rents between AED 260,000 and AED 1.3 million depending on size and frontage. For investors, office sale prices range from AED 1.2 million to AED 3.5 million per unit, with implied rates of approximately AED 540 to AED 1,200 per sq ft — competitive against comparable DMC towers such as Shatha Tower, where rates range from AED 1,200 to AED 1,700 per sq ft.

Dubai Media City Free Zone Advantages

Tenants of Concord Tower benefit from the full suite of Dubai Media City free zone incentives, which include 100% foreign ownership of business entities, 100% repatriation of capital and profits, zero personal income tax, exemption from customs duties on imports and exports, no currency restrictions, and fast-track immigration and visa processing through a one-stop-shop government services centre. Corporate tax applies only at the standard UAE rate of 9% for businesses with annual profits exceeding AED 375,000. DMC licences cover an extensive range of activities including media, publishing, digital and electronic media, broadcasting, advertising, public relations, events management, and entertainment.

The free zone community includes global media powerhouses such as BBC, CNN, MBC Group, Reuters, CNBC Arabia, Sony, Forbes Middle East, Showtime Arabia, Bertelsmann, and technology leaders including Microsoft, Oracle, IBM, and HP. Concord Tower's confirmed tenants include AKQA (global digital creative agency on the 26th floor) and Dimension Data Middle East LLC (NTT subsidiary on the 18th floor), reflecting the building's positioning at the intersection of media, technology, and digital innovation.

Developer: 32 Group

32 Group is an international conglomerate founded and chaired by Majid Pishyar, whose family business heritage spans three generations across trade, construction, manufacturing, and investment. The group's name derives from the 32 letters of the Farsi alphabet. Headquartered in New York City with active operations in the UAE and globally, 32 Group operates approximately 32 distinct business divisions across manufacturing, finance, construction, land development, agricultural projects, investment management, textiles, and raw materials.

In Dubai, 32 Group's real estate portfolio includes Concord Tower (Dubai Media City, 2007), Concorde Tower (JLT, 2008, 45 storeys, 404 units), Saba Towers (JLT), and Crystal Tower Hotel. Pishyar's diversified interests extend to international football club ownership, including S.C. Beira-Mar (Portugal), FC Admira Wacker Mödling (Austria), and Servette FC (Switzerland), as well as the Gilbert Albert luxury jewellery brand with boutiques in New York and Paris.

Investment Outlook

Concord Tower occupies a mature, proven position in Dubai's commercial real estate market. As one of DMC's earliest Grade A towers, it has demonstrated sustained tenant demand over nearly two decades of operation, with approximately 139 companies currently in residence. The building's freehold title, exceptional parking capacity, unique lifestyle amenities, and cylindrical architecture providing unobstructed views from every unit create lasting competitive advantages that newer but more conventional towers cannot easily replicate.

The tower has recently registered for LEED v4 BD+C NC (Building Design and Construction — New Construction) certification as of January 2024 per the Green Building Information Gateway, signalling a commitment to sustainability benchmarking that enhances its appeal to ESG-conscious corporate tenants. Dubai's citywide office market achieved approximately 92% occupancy in 2025 with Grade A buildings at 94%, and commercial property transactions rose 61% year-on-year — underscoring the structural strength of the emirate's commercial real estate sector.