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Office Trends – Quarter Two 2019

August 7, 2019

Office trends

Dubai

The downfall of office rental rates continues through the quarter. An annual record showed that there is a 16% decline from last year. The quarterly report displayed a 4% decline.

The falling rates are expected to be seen well into the quarter and end of the year. This means there will be more vacancies in the commercial buildings and more incentives being offered by landlords to retain the tenancy contract.

Click here to see the Dubai office rental rates

Abu Dhabi

Q2 2019’s commercial rental rates have remained unchanged for all quality specifications despite the lower demand for commercial spaces.

Although the rental rates for Grade B which is shell and core units have lowered by an estimate of 7% since Q2 2018. The lower quality buildings are seeing a decline between 8% and 13% annually.

To retain tenancy for commercial spaces, landlords are providing incentives and discounts upon renewal of the tenancy contract.

Click here to see the Abu Dhabi office rental rates

Information Credits: Asteco


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

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