Summary and analysis of Dubai's current office real estate market conditions.
Insight
Dubai Office Market Dynamics, Q3 2024
Rental rates continue to increase due to limited availability of space; landlords remain firm in dictating rents and lease terms.
Majority of upcoming supply is scheduled for delivery over the next 3 years, primarily of Grade A spec. New stock is expected to ease pressure from rental rates and increase competition.
Occupiers reevaluating expansions plans and opting to renew leases in the face of heightened rental rates. Shifting towards maximizing efficiency within the current office space.