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03.01.2015
What the market does not need right now is to go through sharp spikes and which would add to the cost of doing business in the cities. Dubai and Abu Dhabi did not make it to the Top 10 rankings of cities with the highest growth rates on rentals for prime office space during 2014. However, that's not necessarily a bad thing.
In fact, Abu Dhabi just about made it to the 50th spot in rankings. Growth in asking rates on office leases in Abu Dhabi were at 2.4%, according to CBRE estimates for the 12 months that ended September 2014. Even without a major upswing, Dubai’s Grade A offices are still among the most expensive with a square foot averaging $92.56 (AED340) and placing at 23rd.
The slower rental demand increases in Dubai and Abu Dhabi bodes well for the near-term prospects of both. What the market does not need right now is to go through sharp spikes and which would add to the cost of doing business in the cities, Zawya reported.
