dubai office rents stabilise in q2 inquiry rates improve
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Dubai office rents stabilise in Q2, inquiry rates improve

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Dubai office rents stabilise in Q2, inquiry rates improve

Dubai - Arabstoday

Commercial rents stabilised in Dubai in the second quarter with potential tenant inquiry rates improving in key locations, Cushman & Wakefield said on Tuesday. Across the city, rents have seen little change over the past three months with the exception of some softening in Sheikh Zayed Road, Dubai Investment Park (DIP) and Downtown Jebel Ali, the consultants said in a report. Business Bay, however, still showed the highest vacancy levels in the city at around 70 percent, the study added. The report, which monitors rents and trends across Dubai's office submarkets, revealed that although rents continued to fall year on year in many areas, Q2 produced very limited changes.It said this may indicate a levelling out in rental levels in some locations. DIFC remained the most expensive free zone closely followed by DAFZA although both have seen a reduction in rents this year.The new commercial districts of Jumeirah Lake Towers (JLT) and Business Bay still demonstrated rental declines and high vacancy levels over the year although improved infrastructure and access to the metro may have contributed to higher tenant inquiry levels for JLT, the report added. Michael Atwell, head of operations for Cushman & Wakefield in the Middle East, said: "With the stabilisation of office rents in the free zones and a return to higher occupancy level supports the view that Dubai is now firmly established as the preferred location in the region for international companies to run their Middle East operations. "That said, we cannot ignore the oversupply and limited demand for locations outside of these free zones which will still endure hard times for the foreseeable future." The report said Dubai was now "firmly on its path to recovery" but added that market conditions differed widely from one location to the next. Last week, CB Richard Ellis said commercial office rental rates in Dubai’s main financial areas fell 18 percent year-on-year in the second quarter of 2011. Occupancy rates have also continued to fall as oversupply continues to be a problem for landlords, its report said.“Real estate will remain under pressure with occupancy levels falling further as new supply completes,” the report said. While big financial names such as Barclays Capital, Citibank, Standard Bank and Goldman Sachs announced new leasing deals in the second quarter, CBRE said landlords would have to start offering better incentives in order to compete.

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai office rents stabilise in q2 inquiry rates improve dubai office rents stabilise in q2 inquiry rates improve

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai office rents stabilise in q2 inquiry rates improve dubai office rents stabilise in q2 inquiry rates improve

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more

GMT 22:40 2012 Thursday ,19 April

This Is Not That Dawn

GMT 13:10 2012 Saturday ,28 January

VooMote Zapper is now available

GMT 04:57 2013 Friday ,26 July

Tao Lin\'s Taipei is a very modern romance

GMT 00:34 2014 Sunday ,28 September

Ban Ki-moon to visit Tunisia October 10-11

GMT 16:28 2016 Wednesday ,27 January

Cudmore facing punishment for Clermont outburst

GMT 15:00 2017 Sunday ,24 December

NY iced tea maker sees shares triple

GMT 12:34 2015 Tuesday ,20 January

Rise in temperatures expected till Thursday in Jordan

GMT 12:01 2017 Friday ,14 April

Palestine-Egypt solidarity reiterated

GMT 07:29 2012 Thursday ,05 July

Diversifying economy, a national priority
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday