Dubai’s office sector has remained resilient over the first half of 2022, as per the findings of the Savills Dubai Office H1 2022 - Market in Minutes report.
Here are some of the key findings:
- Occupier demand in H1 2022 has been strong on the back of a buoyant local economy where companies are crystallising their expansion plans, and amid an influx of senior executives, business owners and high net worth individuals (HNIs).
- Sustained growth in the demand for Grade A office space has led to a sharp drop in vacancy levels at these assets in Dubai.
- As a result of increased occupancy levels across prominent Grade A developments, rental values in Dubai have increased by an average 10% compared to H2 2021 and by approximately 13% y-o-y.
- The bulk of the leasing activity during the first six months of 2022 was observed across sub-markets such as DIFC, DWTC, DMCC, Dubai Media City and Dubai Internet City.
- Demand for flexible space options such as serviced office and co-working spaces has grown as a result of companies looking to reduce their capex spending and due to new market entrants looking to set up operations in the city.
To read the full report CLICK HERE
To read the Arabic version CLICK HERE