Search by map
CBRE consultancy has presented its own ranking of the world capitals with the most expensive Grade A offices. Dubai took the 20th place in this list due to its average office rentals, which are almost three times lower than in London.
This middle Dubai’s ranking is the best possible option both for tenants and landlords, experts say. Moderate average Grade A office rentals of about USD 92.57 per square foot attract new companies to the emirate and also guarantee these properties’ owners a consistently high rental income.
The average office rentals in London are about USD 272.56 per square foot. Offices in the Central Hong Kong took the second place in the rating with average rentals of USD 2908. Chinese Beijing was the third, fetching rentals of USD 269.31 per square foot. New York’s Manhattan took the tenth place, while Indian Mumbai figures in the 32th spot with the average office rentals of USD 190.99 per square foot.
At the same time, Dr. Richard Barkham, Global Chief Economist, CBRE, said CBRE analysts expect most advanced economies, as that of Dubai, to keep growing in 2016 and 2017, which combined with limited availability and relatively muted development levels will result in moderate 2-3 per cent office rentals increases. Great demand for offices is expected in Dubai free zones like DWTC, as well as in JLT, Dubai Design District and Tecom.
Thus, given the affordability of the Dubai real estate as compared to the world property prices in general, Dubai real estate investments, including offices, give way to increasing your assets.
