Dubai’s office market remains positive with strong corporate occupier demand
Dubai’s office market continues to see strong demand for good quality, efficient, and well located accommodations, resulting in declining vacancy rates in key sub-markets according to CBRE’s Q1 2016 Dubai MarketView.
In TECOM and DIFC, demand is currently outstripping supply, encouraging a new wave of development starts. This includes the highly anticipated ICD Brookfield Place at the DIFC which will comprise around 1.1 million square feet of Grade A offices and high quality retail.
Mat Green, Head of Research & Consulting, CBRE Middle East, said: “Overall, the availability of good quality single held offices remains tight, with a surge in pre-leasing activity over the last 24 months stripping a large portion of the recently delivered and upcoming office space from the market before completion.
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