Dubai’s office sector retained its positive momentum in Q1 2024, fuelled by strong demand, business-friendly initiatives, and a steady global economic recovery. It remains a highly desirable business hub, where both international and domestic occupiers seek best-in-class space. 

Here are some key highlights from the report:

• Grade A office spaces witnessed significant rental growth, seeing a year-on-year increase of 14% on average.
• Specific markets in high demand experienced surges of 20% to 30% in rental values.
• Strong demand for office spaces in DIFC has driven rental increases and tightened vacancy rates, to an average 3%.
• During the current review period, the market saw a significant uptake of space by legal services, wealth management, and technology, media, and telecommunication (TMT) companies.
• Rising demand for flexible office spaces reflects changing work models and poses challenges for firms seeking high-quality office spaces.

For more insights, read the full report now.