28.01.2013 - Dubai office & residential market view: Q4 2012
Dubai's office sector has remained broadly stable during the final quarter with average CBD lease rates flat at AED1,450/mē/annum. However, over the course of the year rents have fallen marginally by around 4.0%, due to an increase in tenant movements away from ageing properties to newer, better quality accommodation. Despite a minor decline in the average rate, some prime properties around the CBD have actually managed to grow their headline rents over the past 12 months, aided by the limited supply of good quality and efficient office spaces. (Press Release)