Commercial property downturn in UAE extends into ninth quarter | Arab News:
"Demand for commercial space in the UAE fell for the ninth consecutive quarter in the last three months of 2017, with a marginal decline seen in office rentals, but a steeper deterioration affecting industrial and retail space.
Even as demand falls, leasable space continues to increase, alongside the value of incentive packages offered to tenants. According to the UK’s Royal Institution of Chartered Surveyors (RICS) latest global commercial property survey, respondents also expect headline rents to drop by 2.7 percent over the next 12 months, with rents expected to fall across all areas of the market.
Despite these downbeat forecasts, during Q4 2017 the Occupier Sentiment Index moved to -36 from -49 in Q3, indicating a gradual improvement, with the average three-year rental projection being comparatively upbeat."
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