Dubai, Office Market Bulletin, Spring 2017
Overall activity in Dubai’s office market remains muted. Throughout the course of 2016, 10 of the 23 submarkets we monitor registered decreases in upper limit rental rates. The DIFC emerged as last year’s strongest performer.
While 2016 was broadly punctuated by high levels of consolidation activity, notably from the oil and gas sector, but also existing occupiers looking at efficiencies through single-hub operations, a lot of that activity has all but subsided.
The rising star in the office occupier market has been the technology-media-telecoms sector and the Internet City and Media City remain the core focus of this rapidly expanding and ever important sector for Dubai’s economy. However, with a limited amount of space available in these high demand locations, interest is likely to rise in complimentary free-zones such as Dubai Science Park.