Commercial rents return to pre-Covid level in Dubai. Accordin | Dubai 🇦🇪

Commercial rents return to pre-Covid level in Dubai.

According to global real estate consultancy Knight Frank’s analysis released on Monday, five out of 27 locations in Dubai have seen office rents return to pre-pandemic rates.

Despite the quieter end to 2021, early data from Q1 suggests a rebound in demand in Dubai, led by technology businesses that are expanding their footprints, albeit many are start-ups.

Knight Frank points to the lack of new prime stock, sustaining upward pressure on rents in high-quality buildings in some locations.

Leading the recovery in office rents is Business Bay, where average rents have climbed from Dh76 per square foot in Q1 2020 to Dh101 psf (per square foot).

@dubai