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Cityscape sparks speculation frenzy
- United Arab Emirates: Thursday, July 31 - 2008 at 12:54
Abu Dhabi office rents have witnessed significant increases, with prices climbing on average 27% since April 2007. According to the Better Homes' Commercial Review Quarterly Update, Cityscape Abu Dhabi sparked a 'speculative buying frenzy', but developers are now trying to stop properties being flipped many times over before they have even been completed. The report said the shortfall in office space in the capital was highlighted by the launch of the AL Dana development in the Al Raha Beach area, which went for Dhs4,400 per square foot.
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StaffThursday, July 31 - 2008 at 12:54 UAE local time (GMT+4)
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This article was updated on Sun Aug 03 2008.
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