{"id":24515,"date":"2016-08-31T20:30:25","date_gmt":"2016-08-31T13:30:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=24515"},"modified":"2016-08-31T18:44:04","modified_gmt":"2016-08-31T11:44:04","slug":"difc-office-rent-rises-among-the-fastest-in-the-world","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/difc-office-rent-rises-among-the-fastest-in-the-world\/","title":{"rendered":"DIFC office rent rises among the fastest in the world"},"content":{"rendered":"


\nRents in Dubai International Financial Centre are rising at the fourth-fastest rate in the world.According to property broker JLL, rents for offices in DIFC rose by a fifth in the year to the end of June as tenants struggled to find space in Dubai’s most prestigious office location.”Underlying market fundamentals are sound, and corporate demand remains strong, notably in Dubai as office vacancy rates continue to decline in the DIFC,” said Jeremy Kelly, a director in global research programmes for JLL. “As a result, we have witnessed a boost in rental values in the DIFC, unlike other locations, where rental values have remained largely unchanged.”DIFC was the office complex with the fastest growing office rents in the whole of the Middle East and North Africa region, JLL said yesterday, with rents on average rocketing 20 per cent over the year to stand at Dh1,922 per square metre.It was followed by Cairo’s most prime office locations, which recorded annual rent increases of 16.7 per cent, driven by relocations to higher-quality spaces in more convenient locations.Overall, JLL said that rents of prime offices across the Mena region rose 11.3 per cent over the year to the end of June, compared with growth of 11.9 per cent in the year to the end of March.However, the agent said that the increase in prime office rents did not reflect the whole of the Mena market, where office workers often have to sit in substandard buildings surrounded by trailing wires or insect infestations.According to JLL, office rents elsewhere in Dubai remained largely flat as the city continues to suffer from a glut of supply built before the 2008 boom, which left thousands of square feet of office space empty, and often in the hands of hundreds of different owners.”In Dubai, rental growth is predicted to move into further positive territory during the second half of the year, and low vacancy rates coupled with little interest in occupying alternative space will continue to prevent substantial fall in rents,” said Mr Kelly.CBRE reported earlier this summer that low vacancy rates in DIFC and Tecom were encouraging property developers to build more offices in prime areas despite the city’s high vacancy rate.”Tecom and DIFC, in terms of their directly managed portfolios, are pretty much full,” said Matthew Green, the head of research and consulting at CBRE Middle East. “There are only small pockets of space available.”lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…DIFC office rent rises among the fastest in the world<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Rents in Dubai International Financial Centre are rising at the fourth-fastest rate in the world.According...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24515","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6np","jetpack-related-posts":[{"id":11436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-rents-fall-fastest-in-prime-areas-as-jobs-market-weakens\/","url_meta":{"origin":24515,"position":0},"title":"Dubai rents fall fastest in prime areas as jobs market weakens","date":"April 27, 2016","format":false,"excerpt":"\r Dubai rents could fall by as much as 5 per cent this year, with the biggest drops in prime areas including Dubai Marina and Palm Jumeirah, according to Cluttons. The consultancy said that rents in prime areas are likely to fall by up to 7 per cent, driven by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7754,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/office-rents-in-prime-dubai-sites-costly-but-rates-fall-elsewhere\/","url_meta":{"origin":24515,"position":1},"title":"Office rents in prime Dubai sites costly but rates fall elsewhere","date":"March 13, 2016","format":false,"excerpt":"\r \r Property developers in Dubai will complete another 450,000 square metres of office towers this year, putting more pressure on rents and potentially giving relief to businesses affected by tougher economic conditions.The glut of new stock equates to 7 per cent of the city's total 6.61 million sq metres\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43955,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/falling-dubai-housing-rents-to-come-under-further-pressure-this-year\/","url_meta":{"origin":24515,"position":2},"title":"Falling Dubai housing rents to come under further pressure this year","date":"February 13, 2017","format":false,"excerpt":"\r Housing rents in Dubai fell during the final quarter of 2016 and look set to come under further pressure this year.According to property broker Asteco, average apartment rents in Dubai fell by 5 per cent in the final three months and ended the year an average of 6 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23095,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-office-rents-remain-flat-as-companies-opt-to-stay-put\/","url_meta":{"origin":24515,"position":3},"title":"Dubai office rents remain flat as companies opt to stay put","date":"August 16, 2016","format":false,"excerpt":"\r Demand for office space in Dubai has fallen over the past six months in the wake of the oil price rout and the economic slowdown elsewhere in the Gulf that dampened the need for commercial space, Cluttons said in a report. The consultancy's bi-annual Office Market Bulletin found that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":152850,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-office-rents-up-45-per-cent\/","url_meta":{"origin":24515,"position":4},"title":"Dubai office rents up 45 per cent","date":"May 7, 2025","format":false,"excerpt":"\r DIFC, Business Bay, Downtown Dubai and TECOM proving to be popular Dubai office locations\r \r Source : arabianbusiness.com\r Read more...Dubai office rents up 45 per cent","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/05\/dubai-office-market-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":158172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-new-difc-licensed-platform-allows-anyone-to-invest-in-property-from-137\/","url_meta":{"origin":24515,"position":5},"title":"Dubai real estate: New DIFC-licensed platform allows anyone to invest in property from $137","date":"July 24, 2025","format":false,"excerpt":"\r Dubai investors purchasing fractional shares through Deed receive monthly rental income proportional to their ownership stake\r \r Source : arabianbusiness.com\r Read more...Dubai real estate: New DIFC-licensed platform allows anyone to invest in property from 7","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/07\/Dubai-Marina-skyscrapers-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24515"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24515"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24515\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}