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Dubai office rents lowest for two years
- United Arab Emirates: Wednesday, August 26 - 2009 at 10:57
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.
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StaffWednesday, August 26 - 2009 at 10:57 UAE local time (GMT+4)
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