Traditionally the central business district of Dubai, Deira has always received high levels of interest from the business community and is home to many traditional retail centers such as the Gold Souk. Deira is an attractive destination for companies that are engaged in trading as it benefits from the presence of Port Saeed, which is the primary port for small boats and dhows. Deira’s proximity to Sharjah, which provides cheaper accommodation, has also kept the demand for Deira office space relatively stable. The availability of offices with smaller floor plates and the lower rental rates make Deira more desirable for smaller offices and newly established trading businesses with Department of Economic Development (DED) licenses. The built up density of the area has led to traffic congestion and a shortage of parking facilities, however, excellent public transport links due to the presence of the Dubai Metro have limited the effects of these issues.
Deira is the location of many government and municipal buildings which are primarily located around Union Square. Emirates NBD, Mashreq Bank, Dubai Municipality and the Dubai Chamber of Commerce and Industry all have their headquarters located in Deira.