Dubai office sales up 148%

19/01/2009 - Dubai Property News
Dubai office sales up 148%

The sale of commercial property in Dubai surged 148 per cent in 2008 compared to takeup in the previous year, research from Real Capital Analytics (RCA) indicates.

As such, Dubai witnessed the largest commercial sector sales increase of any country in the world over the course of 2008.

In second place was Russia, which recorded a growth of 60 per cent.

Further research from the firm showed that transactions in the business property sector totalled Dh11.45 billion, in news which may well be of interest to those who are planning to invest in Dubai property for sale.

In other developments, the Association of Foreign Investors in Real Estate has conducted research indicating that global property experts are forecasting a spending splurge in foreign property in 2009, with transactions likely to exceed volumes in 2008 by a wide margin.

Group chief executive Jim Fetgatter told Reuters that many top business destinations will be more appealing to foreign investors this year.