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Dubai office rents lowest for two years

Office rents in Dubai have fallen to their lowest level in two years, according to a report by Jones Lang LaSalle. Rents for the most expensive office space fell 25% in the second quarter compared to Q1, following a 45% drop in the first three months of 2009. Excluding the Dubai International Financial Centre, annual rents average Dhs225 ($61.3) a square foot, the lowest since mid-2007. With an estimated 25 million square feet of office space due to come onto the market by the end of 2011, prices are expected to fall further.

August 26, 2009
AME Info

Land transactions in Dubai touch Dh1.37b

1,700 suspected cases of money laundering

Mortgage default rate grows by 25%

Dollar boosts dirham

Dubai Metro launching

The marriage in UAE



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