Office Space in Dubai to grow by 250%

March 4th, 2008 | by Simon Rattray

office spaceCBRE’s Nicholas Macleanis is predicting that Dubai’s office space will increase a whopping 250% within the next three years.

The city is growing at a bewildering rate, with huge level of new developments taking place. In addition to the new office space, there is also a number of residential buildings being constructed. Some have predicted the city’s population will grow to 4.1 million by 2015.

The existing office buildings face almost 100% occupancy which has pushed up rental costs for tenants. New supply of offices should invoke a price correction and rental values should fall. However, not all of the new office space is of international standards and there could still be pressure on tenant’s rentals costs for grade ‘A’ offices. Two of the prime locations in Dubai are Shaikh Zayed Road and the Dubai International Financial Centre.

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  1. 2 Responses to “Office Space in Dubai to grow by 250%”

  2. By Julie Kilpatrick on Mar 14, 2008 | Reply

    I am interested in renting an office space in July for a year in Dubai. I will need space to accommodate 3 employees. I will need it fully furnished. Could you please give me some quotes on your properties.
    Thank you,
    Julie

  3. By Patrick Gray on Mar 26, 2008 | Reply

    Julie, I can look to help you if you would like to give me a call on +971 50 551 3622 or provide your contact details.

    Patrick Gray - Area Director UAE

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