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FINANCIAL NEWS
Dubai 2012 rental rates grow 17%
21 Jan 2013
(MENAFN) CB Richard Ellis (CBRE), the property consultants, stated that in 2012, the average rental rates for residential real estate in the emirate of Dubai jumped by 17 percent, reported Arabian Business.
CBRE said that villa rentals went up 14 percent in the period, adding that the increase in realty prices has driven several developers to launch off-plan properties.
Recently, the emirate’s government in addition to a number of state-backed entities have announced new projects, such as the Mohammed Bin Rashid City that will comprise the world’s biggest shopping mall, and a USD3 billion theme park project in Jebel Ali.
In 2012, average office rents in Dubai fell by 4 percent, following an increase in the number of tenants moving from older properties to newer buildings.
Meanwhile, even though some offices in key locations raised their headline rents, buildings in Business Bay and Dubai Silicon Oasis continue to undergo high vacancy rates.
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04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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