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FINANCIAL NEWS
Abu Dhabi office rents decrease 30%
16 Apr 2011
(MENAFN) Cushman & Wakefield UAE operations head, David Quinn, stated that the office rents in Abu Dhabi went down 30 percent compared to 2010, reported The National.
Quinn also said that he expected the rent prices to continue decreasing throughout the current year as new buildings are driving rent rates down.
The head added that over 500,000 square meters of space would be employed this year, including the 24-storey International Tower in Capital Center, as well as Sowwah Square, a part of the new Sowwah Island business district.
It is worth noting that the range of office rents in Abu Dhabi office currently ranges from about USD 353.890to USD626.113 per square meter. Rents for top space in Abu Dhabi are expected to decrease to USD490 per square meter.
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