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Dubai tower office rents remain stable

UAE - April 21, 2016
Dubai officer tower

The skyscrapers index issued by Knight Frank revealed that Dubai skyscrapers are more affordable than their counterparts in London, New York, Hong Kong, and Tokyo.

The latest index showed that Dubai skyscrapers prices stayed stable at 43.5 dollars per square foot since the second half of last year while prices in many other central cities hiked by an average of 9 percent.

Knight Frank’s analysis of rental performance covered various commercial buildings of more than 30 floors high in 21 cities around the globe.

London registered the highest rise in rental value since the second half of last year hitting 9.7 percent. San Francisco and Hong Kong followed with rental increase of 4.76 percent per each. Mumbai and Taipei saw rental increase of 3.02 percent, and Dubai stayed flat at 43.5 dollars per feet in average.

Ally McDale, a member in Knight Frank research team, said that London is posed for the second in the last 12 months as the fastest growing market in respect of high-rise office towers.

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