Dubai
Prime office rents in Dubai fell by an average of 6.5 % in the year 2020. Nearly a quarter of all office space lies vacant in Dubai.
Landlords are expected to remain flexible in order to retain and attract occupiers and roll-out incentives such as rent-free periods and flexible payments terms. The move is to maintain the demand for the physical office spaces, despite the ongoing challenges posed by the coronavirus pandemic.
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Abu Dhabi
Office rental rates have registered an average decline of 7% over the year, coupled with a significant increase in vacant offices across the sector.
The office sector in Abu Dhabi has witnessed the most challenges as several business units have either downsized or temporarily/permanently closed their operations.
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Information Credits: Asteco
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