Dubai ($39/sqft, 5.8% vacancy) and Toronto ($57/sqft, 17.6% vacancy) compete on different axes: Dubai on rent and tax and Toronto on talent depth.
Dubai ($39/sqft, 5.8% vacancy) and Toronto ($57/sqft, 17.6% vacancy) compete on different axes: Dubai on rent and tax and Toronto on talent depth.
| Metric | Dubai | Toronto |
|---|---|---|
| Region | EMEA | Americas |
| Country | United Arab Emirates | Canada |
| Class A rent (USD/sqft/yr) | $39 | $57 |
| Class A rent (local) | 145 AED | 78 CAD |
| Vacancy | 5.8% | 17.6% |
| Trend | rising | flat |
| Prime yield | 7.5% | 5.5% |
| Premium flex / seat / month (USD) | $980 | $920 |
| Submarkets covered | 6 | 6 |
| Corporate tax | 9% | 26.5% |
| Metric | Dubai | Toronto |
|---|---|---|
| Typical term | 3 yrs | 10 yrs |
| Typical rent-free | 3 mos | 18 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. | Net leases — tenant pays a base rent plus a proportional share of operating expenses, realty taxes, and utilities (TMI). Rent-free of 12-24 months on a 10-year term is current market. Bank guarantees common for non-investment-grade covenants. |
| 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). | Combined federal + Ontario corporate tax 26.5%. Toronto Municipal Land Transfer Tax applies on purchase, not on lease. |
| Metric | Dubai | Toronto |
|---|---|---|
| Talent index (0–100) | 78 | 80 |
| Talent note | Deepest cross-border financial-services and consulting talent pool in the Middle East. Average all-in compensation indexes 78. | Deepest financial-services and tech talent pool in Canada. Average all-in compensation indexes 80. |
Dubai: Dubai Metro Red Line connects DIFC, Downtown, Internet City. Etihad Rail commuter network is in development.
Toronto: TTC subway plus GO Transit commuter rail converge at Union Station. The PATH connects most Financial Core assets underground.
Dubai is the cheaper Class A market on a USD basis.
Toronto has the deeper talent index (80/100 vs 78/100).
Dubai has the lower headline corporate tax (9% vs 26.5%). Local incentives can change the effective rate materially.
Dubai typical term is 3 years with 3 months free; Toronto runs 10 years with 18 months free.
Dubai: Dubai Metro Red Line connects DIFC, Downtown, Internet City. Etihad Rail commuter network is in development. Toronto: TTC subway plus GO Transit commuter rail converge at Union Station. The PATH connects most Financial Core assets underground.
Score Dubai, Toronto 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.