The improvement in Abu Dhabi’s employment rates pushes up rents in Abu Dhabi, Invest-Gate reports.
Office leasing rates in three out of the submarkets in Abu Dhabi rose from 3.5% to 12% in 2022.
Occupancy levels of offices in Abu Dhabi reached 95%.
Office space available for rent amounted to 32,000 sqm. The demand for new office space is led by the banking and finance sectors.
Abu Dhabi’s new office stock is expected to see 275,000 sq. ft. over the next two years, while occupancy levels in the city’s best buildings are hovering at, or above 95%.