JLL: New supply to constrain office rents in Dubai over coming years
Jones Lang LaSalle IP Inc. noted in its Dubai Real Estate Market Overview for 1Q15 that office rents have remained stable, even as the vacancy rate has risen to 23%. Demand for Grade A office space has been strong, especially in and around the Dubai International Financial Centre. GLA is expected to increase by 900,000 square metres in the rest of 2015 and by a further 532,000 square metres through 2016 and 2017. JLL expects that the rise in supply will keep rents under downwards pressure.
Source : 31 March 2015/JLL/Dubai/OFF