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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.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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