- News
- Dubai office space demand has risen by 23% in H1 2023
Dubai office space demand has risen by 23% in H1 2023 compared to H1 2022
– According to the consultancy group, Knight Frank.
The supply of office space to be completed by 2026 is only 278,700m², while Dubai's office market requires 54,000m², and the demand has been continuously growing.
The biggest rise in office rents, compared to H1 2022:
- Business Bay – 69%
- Trade Centre District and Dubai Marina – 54%
Abu Dhabi developer, RAK Properties, has announced its net profit in Q2 2023 is $11.84 million
In Q2 2022 the developer has registered a loss of $1.3 million.
The leading Sharjah developer, Arada, has awarded a $108 million contract to the general contractor, GAC, to build a residential district, Nasaq
– Aljada
It will feature six buildings with 1, 2 and 3-bedroom apartments. For residents:
- Pool
- Gym
- Shops and Restaurants
- Park
Earlier GAC has won a $129 million contract to build the Vida Aljada hotel
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