Dubai ($39/sqft, 5.8% vacancy) and Hong Kong ($186/sqft, 12.8% vacancy) compete on different axes: Dubai on rent and tax and Hong Kong on talent depth.
Dubai ($39/sqft, 5.8% vacancy) and Hong Kong ($186/sqft, 12.8% vacancy) compete on different axes: Dubai on rent and tax and Hong Kong on talent depth.
| Metric | Dubai | Hong Kong |
|---|---|---|
| Region | EMEA | APAC |
| Country | United Arab Emirates | Hong Kong SAR |
| Class A rent (USD/sqft/yr) | $39 | $186 |
| Class A rent (local) | 145 AED | 1450 HKD |
| Vacancy | 5.8% | 12.8% |
| Trend | rising | softening |
| Prime yield | 7.5% | 3.4% |
| Premium flex / seat / month (USD) | $980 | $1,320 |
| Submarkets covered | 6 | 5 |
| Corporate tax | 9% | 16.5% |
| Metric | Dubai | Hong Kong |
|---|---|---|
| Typical term | 3 yrs | 3 yrs |
| Typical rent-free | 3 mos | 8 mos |
| Lease norms | Standard lease 3 years with annual rent escalators (typically 5%) and a renewal option. Service charges billed separately. Security deposit of 5-10% standard. Ejari (lease registration) is mandatory. | Hong Kong leases are typically 3 years (with renewal option) or 6 years on the trophy tier. Rent-free of 6-12 months on a 3-year term is current market. Rent is gross with management fees billed separately. Stamp duty is payable on lease execution. Bank guarantees of 3 months are standard. |
| Tax note | Federal corporate tax of 9% on profits over AED 375,000 — applied since 2023. No personal income tax. No VAT on commercial leases (5% VAT on most other goods/services). | Profits tax at 16.5% (8.25% on the first HKD 2 million for qualifying entities). No VAT, no capital gains tax, no withholding tax on dividends. |
| Metric | Dubai | Hong Kong |
|---|---|---|
| Talent index (0–100) | 78 | 88 |
| Talent note | Deepest cross-border financial-services and consulting talent pool in the Middle East. Average all-in compensation indexes 78. | Premium financial-services talent depth, particularly for cross-border China-mainland mandates. Average all-in compensation indexes 88 vs. New York's 100. |
Dubai: Dubai Metro Red Line connects DIFC, Downtown, Internet City. Etihad Rail commuter network is in development.
Hong Kong: MTR coverage across the entire Class A footprint. Airport Express to Chek Lap Kok in 24 minutes from Central. The Hong Kong-Zhuhai-Macau Bridge and Express Rail to Shenzhen and Guangzhou support cross-border occupier strategies.
Dubai is the cheaper Class A market on a USD basis.
Hong Kong has the deeper talent index (88/100 vs 78/100).
Dubai has the lower headline corporate tax (9% vs 16.5%). Local incentives can change the effective rate materially.
Dubai typical term is 3 years with 3 months free; Hong Kong runs 3 years with 8 months free.
Dubai: Dubai Metro Red Line connects DIFC, Downtown, Internet City. Etihad Rail commuter network is in development. Hong Kong: MTR coverage across the entire Class A footprint. Airport Express to Chek Lap Kok in 24 minutes from Central. The Hong Kong-Zhuhai-Macau Bridge and Express Rail to Shenzhen and Guangzhou support cross-border occupier strategies.
Score Dubai, Hong Kong and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.