Mubasher: Dubai’s office market will not see any further supply until early 2019, when the ICD Brookfield Place is expected to complete, according to a report by Cluttons.
The $1 billion project will provide 900,000 square feet of Grade A space.
One Central project may offer significant further Grade A space in the area when two buildings in phase 2 complete later this year.
The Avenue is expected to bring increase connectivity as the Dubai International Financial Centre (DIFC) matures into a more pedestrian friendly environment.
Core buildings experience very low vacancy rates of sub 5%, with expectations to persist.
In DIFC, Cluttons recorded some small relocation deals within the finance and banking sector of under 3,000 sq ft.
