Dubai’s office properties, especially Grade A addresses, are seeing some heavy activity on the leasing side, Gulf News reports.
“What we see is a continuing migration of multinational occupiers to the Dubai office market,” says Nicholas Maclean, regional managing director at CBRE, a consultancy firm. “Existing occupiers are moving to better properties or consolidating where they are,” he adds.
Maclean also says that there are international tenants who have several offices in the Gulf now bringing them to one location in Dubai.
According to CBRE, recent months have seen the closing of fairly big-ticket transactions involving entire office buildings in Dubai. “There have been one or two, of between AED 300 million to Dh600 million,” said Maclean. “The best locations along Sheikh Zayed Road, the Tecom area and Downtown are proving popular with investors.