Dubai’s office realty holds the line on costs | GulfNews.com:
"Unlike in its residential space, tenants looking out for office space in Dubai are yet to see the sharp escalation in rental rate demands. It explains why Dubai retained its 23rd spot among the world’s costliest cities for offices in CBRE’s semi-annual survey.
The “occupying cost” for a quality office premise in Dubai is estimated at $92.56 per square foot, compared with the $277.21 per square foot that it would be in London’s West End — the costliest office spot now — and $241.92 per square foot in Hong Kong Central. Two separate commercial locations in Beijing came in third and fourth, in CBRE’s reckoning. (These are based on trends spotted up to March 31 this year.)
Across the city, what office tenants will not want to see is a sudden hike in lease rates, which if it happens would place it on the same trajectory as in home rentals. Landlords with office properties are so far maintaining a prudent policy on renewals, though they may not be as willing to offer longer rent-free periods as in the past."
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