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Office Trends –Quarter Two 2021

October 1, 2021
Dubai

The office sector in Dubai recorded a downward trajectory with quarterly and annual decline of 4% and 16% in line with stunted employment and business growth. Several landlords have been considering repurposing their existing and upcoming office buildings.

The upcoming Expo (October 2021) is expected to lift real estate demand for a short-term predominantly for exhibition and site employees.

Click here to see the Dubai office rental rates

Abu Dhabi

The office sector in Abu Dhabi continued to be one of the most challenged assets classes, with annual declines standing at 4% since Q2 2020. Instead of allowing for market rent reduction, landlords as a countermeasure offered incentives related to payment terms such as rent-free periods, service charge waiver and reductions in fit-out costs.

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.