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Knight Frank: 40% of Dubai office space empty
- United Arab Emirates: Tuesday, December 01 - 2009 at 11:10
According to real estate broker Knight Frank LLP, about 40% of Dubai's office space is currently empty after the emirate's construction spree outpaced demand, Bloomberg has reported. Vacant office space totals 10 million square feet, the broker said. If developers meet current completion dates, total office space will double to about six million square metres by the end of 2011, according to research by broker Colliers International, which also put the vacancy rate at 40%.
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StaffTuesday, December 01 - 2009 at 11:10 UAE local time (GMT+4)
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