Dubai continues to experience strong demand for office space, according to industry analysts.
Office vacancy rates are declining, particularly in Dubai’s Centre Business Districts (CBD), according to Jones Lang LaSalle’s Q1 2016 report, which revealed rates reduced to 17% in the first three months of the year, compared to 23% in Q1 2015.
The secondary market reported a flat performance in Q1, the JLL survey revealed and in the long run, office space will remain in high demand as more companies move their regional headquarters to the emirate, it said.
The positive outlook for the office market in Dubai vindicates TFG Asset Management’s strategic decision to expand the SOLO Business Centre from 56 to 72 units.
“The market performance proves we made the right decision to expand our offering,” confirmed Mariano Faz, Head of TFG Asset Management. –
“We are confident of filling all of our units, not only based on strong demand, but the ability of the professional management team we have in place to ensure new offices are immediately occupied post completion. We are currently on track for 100% occupancy.”
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