Dubai Office Market
- Demand for quality office spaces in centrally located areas is outstripping supply
- Citywide office rents up by 23% year-on-year, with all office districts surpassing pre-pandemic rental levels
- The sharpest year-on-year rise in office rents were seen in Business Bay (40%) and JLT (36%) office districts.
- City-wide office occupancy at 83%, with an absorption of over 5.4 million sq. ft witnessed in the last 12 months
Dubai Residential Market
- Off-plan project launches up by 61% year-on-year
- Highest ever number and value of secondary market transactions recorded in Q3 2022
- City-wide villa sales price up by 16% and apartments by 8% year-on-year
- Sharper rental rises witnessed with city-wide villa rents up by 28% and apartments by 26% year-on-year
