Summary and analysis of the UAE's current office real estate market conditions.
Insight
UAE Office Market Dynamics, Q2 2024
Dubai witnessed an increase in office GLA, with new Grade A quality offices added in Umm Ramool. Abu Dhabi's total stock remained stable, with plans for significant future completion.
Strong demand and increased leasing activity drove average rents upwards by around 15% in Dubai and 10% in Abu Dhabi.
The outlook for the office market is positive due to a strong economy, diverse demand, and occupiers' focus on quality spaces and sustainability.