Office Trends – Quarter One 2021

June 15, 2021

The office sector in Dubai recorded a decline in rental rates with quarterly and annual drops of -3% and -18% respectively. This is in line with impaired employment/business growth and the prevailing uncertainty regarding the speed of economic recovery.

Click here to see the Dubai office rental rates

Abu Dhabi

Despite only recording nominal quarterly rental declines, the office sector remained one of the most challenged asset classes in Abu Dhabi. Landlords instead of allowing for marked rent reductions, increasingly offered incentives related to payment and lease terms such as rent-free periods, service charge waivers, and fit out cost contributions).

On the contrary several grade A and B office buildings experienced a rise in demand from Chinese and Israeli companies looking to establish a base in Abu Dhabi.

Click here to see the Abu Dhabi office rental rates

Information Credits: Asteco

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Disclaimer: The stories are a work of fiction based on facts. Identies and details may have been altered to suit the narrative.