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FINANCIAL NEWS
UAE’s DIFC occupancy level above 95%
24 Oct 2011
(MENAFN) Dubai International Financial Centre’s (DIFC) Authority’s CFO, Abdulla Mohammed Al Awar, said that in 2011, occupancy level at the DIFC’s Gate District was above 95 percent, reported Emirates 24/7.
Al Awar added that occupancy within third party developments, including Currency Tower, Currency House and Liberty House, surged 58 percent due to higher demand from new firms and existing clients.
He also said that as of June, total leasable commercial space in DIFC’s own buildings reached 1.217 million square feet, whereas total commercial office space within third party developers reached 769,000 square feet.
It is worth noting that the DIFC announced a new pricing structure in December of 2010, when it offered its clients more than 50 percent in discounts with the rents starting from USD43.5 per square feet to a maximum of USD76 per square feet in the current year.
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