21.02.2013 - Middle East serviced office market sees volatility
The serviced office market in the Middle East has been volatile in the last two years, with the number of open centres in Dubai falling by almost 30%, but growing by 72% in Abu Dhabi. These are the findings of Instant, the flexible office specialist, which says in its latest research report "Emerging Markets Serviced Office Review 2013" that the serviced office sector of the property industry- led by the likes of Regus- is set to boom in emerging markets over the next five years, with the number of office centres forecast to double to over 1,500. Volatility in the Middle East's serviced office market has also been reflected in rates for individual workstations or desks. In Dubai rents for a desk fell from a high of $1,675 per month in 2008 to $900 per month in 2011. Workstation rates in Dubai currently stand at $955 and at $1,075 in Abu Dhabi. (Press Release)