Dubai ($39/sqft, 5.8% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: Dubai on talent depth and Mumbai on rent and tax.
Dubai ($39/sqft, 5.8% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: Dubai on talent depth and Mumbai on rent and tax.
| Metric | Dubai | Mumbai |
|---|---|---|
| Region | EMEA | APAC |
| Country | United Arab Emirates | India |
| Class A rent (USD/sqft/yr) | $39 | $46 |
| Class A rent (local) | 145 AED | 320 INR |
| Vacancy | 5.8% | 12.6% |
| Trend | rising | rising |
| Prime yield | 7.5% | 7.5% |
| Premium flex / seat / month (USD) | $980 | $420 |
| Submarkets covered | 6 | 4 |
| Corporate tax | 9% | 25.2% |
| Metric | Dubai | Mumbai |
|---|---|---|
| Typical term | 3 yrs | 5 yrs |
| Typical rent-free | 3 mos | 4 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. | Standard 5-year lease (often 3+2 or 5+5). Rent quoted as INR per square foot per month. Maintenance billed separately. Security deposit of 6-12 months standard. Stamp duty payable on lease execution. |
| 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). | Headline corporate tax 25.2% (concessional 17.16% for new manufacturing). Maharashtra state taxes apply. |
| Metric | Dubai | Mumbai |
|---|---|---|
| Talent index (0–100) | 78 | 60 |
| Talent note | Deepest cross-border financial-services and consulting talent pool in the Middle East. Average all-in compensation indexes 78. | India's deepest financial-services and tech talent pool. Average all-in compensation indexes 60. |
Dubai: Dubai Metro Red Line connects DIFC, Downtown, Internet City. Etihad Rail commuter network is in development.
Mumbai: Mumbai Suburban Railway is the primary mass transit. Mumbai Metro is expanding rapidly. Direct connection between BKC and the CBD remains the key infrastructure constraint.
Dubai is the cheaper Class A market on a USD basis.
Dubai has the deeper talent index (78/100 vs 60/100).
Dubai has the lower headline corporate tax (9% vs 25.2%). Local incentives can change the effective rate materially.
Dubai typical term is 3 years with 3 months free; Mumbai runs 5 years with 4 months free.
Dubai: Dubai Metro Red Line connects DIFC, Downtown, Internet City. Etihad Rail commuter network is in development. Mumbai: Mumbai Suburban Railway is the primary mass transit. Mumbai Metro is expanding rapidly. Direct connection between BKC and the CBD remains the key infrastructure constraint.
Score Dubai, Mumbai 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.