This paper presents a case study of energy flexibility strategies for a building located in the hot climate of Dubai, a type of climate in which energy flexibility has been under-researched. Energy flexibility is changing the routine-consumption profile and deviating from the normal operation of the building by the users to manage the variability in the load profile and cost of electricity. The three flexibility strategies being considered are based on the modulation of the indoor air temperature setpoint profile while considering different marginal costs for electricity. The main objective is to quantify the energy storage flexibility of each strategy and evaluate its impact on the system ramping and load factor. The study was carried out utilizing a grey-box, resistance–capacitance model of the building, which was validated against experimental measurements. This study is the first to use the following five indicators simultaneously: load factor, system ramping, storage capacity, peak-period demand reduction, and cost savings. Combining these indicators helps building facility managers and distribution system operators (DSOs) better understand the implications of implementing a specific flexibility strategy in a building or a group of buildings. When comparing the indicators of each strategy with each other, it was observed that depending on the amplitude of the change in the electricity cost signal during the peak period, a significant cost reduction of more than 25% could be achieved through the implementation of specific flexibility strategies compared with the normal baseline operating condition.