Tuesday, April 01, 2008

Dubai Commercial Space Leasing costs will rise by 60% in 2008

The advent of freehold property market has made a very positive impact on Dubai’s commercial and economic growth. This has resulted in Dubai emerging as Asia’s top investment hub. Dubai is currently the primary choice for expanding international companies and businesses. The influx has created a sudden demand for commercial space.Leasing charges for Dubai are the highest in the Sheikh Zayed Road area (approx. US$ 1055 per square metre), a prime business district, followed by Deira (approx. US$ 825 per square metre). The afore-mentioned figures have been compiled after analysing statistics from owners and tenants. Upon comparing the present rates with the leasing/rental expenditure in 2007, we predict an increase of more than 60% in the charges, for any newly leased out commercial space in the emirate in 2008-09.

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