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Knight Frank: Dubai's office rents climb 9.1% in H2 2024 amid rising demand

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Business services, real estate, and the banking & finance sectors drove the new prime office demand in 2024
The article from Zawya discusses a report by Knight Frank, a global property consultancy, which highlights a significant increase in office rents in Dubai during the second half of 2024. According to the report, office rents in Dubai surged by 9.1% due to a rising demand for office space, driven by an influx of businesses and professionals to the city. This demand is attributed to Dubai's growing status as a global business hub, attracting companies from various sectors including finance, technology, and real estate. The report also notes that the Grade A office spaces, which offer premium amenities and locations, experienced the most substantial rent hikes. Despite the increase, the occupancy rates remain high, indicating a robust market with limited new supply, which further pressures rental prices. The article suggests that this trend is likely to continue as Dubai's economy strengthens and more international firms establish or expand their presence there.

Read the Full ZAWYA Article at:
[ https://www.zawya.com/en/press-release/research-and-studies/knight-frank-dubais-office-rents-climb-91-in-h2-2024-amid-rising-demand-fv96orpw ]