In Dubai, the cost of occupying a premium office space is retained for the whole period of 2017 despite the fact that there are increases in other global cities. The increase averages out at 4 per cent when calculated in the US dollars currency. In the case of Bangkok’s Interchange 21 Serviced Offices, the rate remains to be the same as last year.
Dubai’s premium buildings have very low level of available space, similar to other international markets, which only proves that there is still a high demand. JLL said that premium quality buildings are mostly preferred by tenants in the general market.
JLL has a premium office rental tracker in the international market and the Dubai International Financial Centre or DIFC received a ranking of 19 out of the 54 international office markets.
The premium office spaces located in Dubai are expected to be priced lower than central Hong Kong, around one third of the costs found at the most expensive office spaces in the globe. In comparison with West End of London, Midtown and New York, Dubai’s cost of premium offices is 50 per cent lower.
According to UAE JLL’s head of office and business space leasing, Toby Hall, corporate are slowly recognizing the fact that real estate is an important factor if they want to compete with talent and raise the productivity of their workers. This is why there is a change in the way they chose office location and the type of office space.
Based on the latest research conducted by JLL, only 50 per cent of the 7,000 employees all over the world and in the region felt that they have an effective work area. This statistic is essential to investors as well as corporate who are looking for future evidences.
Hall also said that Dubai’s DIFC is a great market because of the availability of premium office spaces located within a competitive city. Very much like Bangkok’s Interchange 21 Serviced Offices, the premium offices in Dubai empower innovation and attract talents from all over the world. The demand continues to increase and an upsurge is expected in the next few years.