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Cluttons sees rise in Muscat’s Grade A office rents

Global real estate consultancy, Cluttons has said Muscat’s commercial property market is showing signs of continued stability, driven by government investment in transportation and energy infrastructure, with occupiers being drawn towards higher quality office space, Muscat Daily has reported. The supply and demand equilibrium for grade A space is now nearing a tipping point, with the delivery of new stock starting to fall behind the level of demand, Cluttons said. As a result, Grade A office rents are likely to drift upwards during 2014, the firm said.