Dubai skyscrapers can aim even higher

Rents in Dubai may have skyrocketed over the last year, but are still considerably lower when compared to metropolitan cities like Hong Kong or Tokyo. Even with the sharp spikes they experienced at the tail end of last year and in January, average values in Dubai’s high-rises have a lot to climb before they can take on the likes of Hong Kong or Tokyo, according to a Gulf News report.
Dubai was ranked 18th in the latest Skyscraper Index compiled by the consultancy Knight Frank. Its high-rises had an average prime capital value of $620 a square foot compared with the Hong Kong’s $6,330 a square foot. Second placed Tokyo had capital values a sharp 50% lower than in Hong Kong, at $4,180. (These are based on asking values for the top floors of a high-rise.)
Based on current estimates, among the costliest high-rise abodes would be in Burj Khalifa (around AED4,000 per square foot), the Cayan (AED2,400 per square foot), Index Tower (AED2,400 per square foot) and 23 Marina (AED1,700 plus per square foot). In Abu Dhabi, Sky Tower looms over the rest with an estimated AED1,630 a square foot, according to Global Capital Partners’ data.

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