Office supply in Abu Dhabi to rise over 25%
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Office supply in Abu Dhabi to rise over 25%

Office supply in Abu Dhabi to rise over 25%

Property consultancy Jones Lang LaSalle has said that office supply in Abu Dhabi is expected to jump by more than 25% this year, putting further pressure on rents, while oversupply will also push residential and retail rents down, Reuters has reported. "Around 1.4 million sq m of office supply is expected to enter the market by 2013," JLL said in a report. Total office space across the Abu Dhabi Metropolitan area was around 2.2 million sq m in the fourth quarter. Rents for premium office space in the capital fell by 9% in the fourth-quarter from the previous quarter and were off around 28% year-on-year, and 48% from their peaks in the fourth quarter of 2008.

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