According to the latest data, demand for office space in Dubai has reached a five-year high due to a large influx of global enterprises eager to move or grow in the UAE.
Dubai’s office occupancy levels are at their highest in five years, according to a new report by commercial real estate services firm CORE.
A lot of the demand has come from businesses operating in the services and technology fields, including fin-tech and cryptocurrency-related entities.
Dubai has seen a record number of new business licenses being issued, as well as Ejari registrations.
According to the latest official figures from the city’s Real Estate Office Developers Association (RDO), office leasing rates in Dubai have risen by 35 percent in the first quarter of this year, according to the latest official figures from the city’s Real Estate Office Developers Association (RDO).
Dubai is also seeing an influx of many international firms relocating their staff and operations from Russia and Ukraine.
Rents have also gone up in popular business districts such as Sheikh Zayed, One Central, and Business Bay.
This report’s information was first seen on ZAWYA; to read more, click this link.