Dubai Offices vacancy level exceeds 40 percent - Bayut experts reveal

According to a report, the total office supply in Dubai is expected to rise to 70 million square foot by the end of 2012. However, Bayut experts claim that despite the supply in the market, the office vacancy level exceeds 40 percent.
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April 25, 2012 - PRLog -- Bayut is the most authentic property portal that caters to every type of property needs regarding Dubai real estate sector. This time, Bayut experts have something new for all the investors planning to invest in commercial properties of Dubai for their businesses. The experts at the panel say, “Though the reports and analysis claim that there will be addition of 10 million square foot in office space this year but they do not tell that office vacancy level is exceeding 40 percent.”
It is good news for investors and entrepreneurs, planning to invest in commercial properties to get steady revenue in the coming years or to settle their offices in Dubai. This is right time to buy office in Dubai, as you can get your required commercial property in Dubai at reasonable rates; be it Jumeirah Lake Towers, Dubai Marina or Business Bay. The report further claimed, “Despite the forecast increase in the supply, office rents at prime locations such as Jumeirah Lake Towers Dubai & Business Bay are beginning to stabilise.” Bayut qflbg experts say that stabilisation at these locations is due to increasing demand of the properties.
DIFC, Emaar Square and the Sheikh Zayed corridor is and will remain the most expensive locations for offices and commercial properties, whereas, Dubai Jumeirah Lake Towers and Al Barsha will keep on offering commercial properties at lowest rates. Therefore, if you are planning to invest in this region, you can get good properties at prime locations within reasonable rates.
About Bayut – The site is regarded as the prime real estate property portal of Dubai in particular and the UAE in general. The site contains extensive listings of properties for rent and sale not just in Dubai but the rest of the UAE as well. All the listings on the site are regularly updated and verified bringing both the sellers and the buyers on the same page.
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Source:Willaim King
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