â–ªï¸ Dubai is considered as a viable alternative to many European cities due to its successful handling of the Covid-19 pandemic.
Recent Emirates NBD Research shows:
1. Commercial properties saw a decline in yearly rents in the first quarter of the financial year 2021, faced oversupply challenges prior to the pandemic.
2. Largely as ongoing Covid-19 precautions mean many businesses are still urging some employees to work from home to limit the contagion risk.
3. Office rents were down 17.8 % year-on-year & 2.6 % quarter-on-quarter.
Emirates – A preferred destination for corporate occupiers
â–ªï¸ Most corporate occupiers are taking a longer-term view on their real estate requirements.
â–ªï¸ Occupiers are more proactive and now initiate discussions with landlords on lease renewals or restructuring. Frequently, lease expiry, based on their future real estate strategy.
â–ªï¸ Increasing the demand for co-working and serviced office space by the prolonged uncertainty around sustained global economic recovery, thus led companies to prioritise flexible leasing options.
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