Business Bay, Tecom sees office rent hikes

12.11.2014
However, rents in Dubai International Financial Centre, Dubai Media City, Dubai Internet City, Knowledge Village and Deira saw no change, according to research by Knight Frank. Six of 13 key business districts have witnessed rent increases of double digits in the year to September 2014, according to research by Knight Frank.
The districts that saw annual increases were Business Bay (35%), Tecom C (31%), Dubai Festival City (26%), Emaar Square/Downtown (23%), Bur Dubai (13%) and Jumeirah Lakes Towers (10%).
However, rents in Dubai International Financial Centre, Dubai Media City, Dubai Internet City, Knowledge Village and Deira saw no change, the UK-based consultancy said.
Overall, prime rents rose by two per cent quarter-on-quarter and were up 23% compared to the corresponding period of 2013.
Earlier this year, JLL, a global real estate consultancy, put Dubai third on the list of the world's 20 most dynamic cities following the Expo 2020 win, referring the emirate to being an "elite city that wields clear economic might on the global stage."

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