Dubai International Finance Centre rates going strong

While the DIFC has not been left unaffected by the global financial crisis, it is still maintaining its status as one of Dubai's prime office developments.

Quoting rents for space had reached as high as Dhs750 per sq/f before falling away over the last two quarters.

Many international corporations have set up their regional office bases in the DIFC over recent years, creating a high quality tenant mix, and the DIFC boasts numerous retail options including, boutique stores, art galleries, and a wide variety of quality food and beverage outlets.

As Mat Green, Associate Director, Research for CB Richard Ellis explains; "The DIFC is in a prime location, has excellent facilities and high quality office space, which generates considerable demand. This was made apparent by the lengthy waiting list for space in 2008 and the consistent level of demand that has been seen since opening in 2004."

Additional developments at the DIFC are set to be completed this year, including Currency House and The Index, with further projects to come online, depending on market conditions. These will include the environmental friendly development, The Lighthouse, which will use natural energy to off-set the energy cost used in the desalination process of its water, as well as The Buildings by Daman and Emirates Financial Towers.

Mat Green added, "The DIFC and wider Sheikh Zayed Road area is set to be the Central Business District in Dubai for years to come. With the Business Bay development coming online, new roads being built and the completion of the Metro, this creates a solid case for investment over the other office locations."