Office tenants, landlords navigate a slow market

Dubai rent rates may remain flat in the second half, but better than the previous year

Following the subdued results at the start of the year, Dubai’s office sector continued to display little momentum in the second quarter, in the midst of bearish market sentiment, low oil prices and regional uncertainties.

“Although quoted rental rates were broadly unchanged over the last quarter, transaction evidence indicated marginal declines of 2 per cent, while landlords continued to show increased flexibility during negotiations to secure new tenants and retain existing ones,” says John Stevens, managing director of Asteco.


Related posts

Dubai realty market rides on robust off-plan demand

Total transactions by the Dubai Land Department amounted to Dh132 billion for the first half of...

Continue reading

Nakheel to unveil Dh3.2bn worth of projects at Cityscape Global 2017

It has awarded construction contracts worth Dh7 billion so far this year, and expects the figure...

Continue reading

Indians, Pakistanis pour Dh27b into Dubai real estate

UAE nationals pitch in with Dh37b in 18 months from January 2016 Indian and Pakistani nationals...

Continue reading