Dubai office rents stabilise

03/10/2011 - Dubai Investment News Posted by Neil King
Dubai office rents stabilise

Property investors looking for commercial opportunities in the Middle East could be among those encouraged by the recent findings of one industry body.Cluttons has claimed that office rents in Dubai have now stabilised, Emirates 24-7 reported.According to the firm, none of the area's central business districts registered a decline in office rents in the third quarter of this year.Data released by the organisation showed that average rents on Sheikh Zayed Road remained steady at Dh90 per square feet per annum."Lease terms offered by landlords are generally becoming more ?exible and attractive to tenants with the offer of larger rent-free periods twinned with longer leases in order to decrease void levels," Cluttons told the news provider."The number of landlords willing to pay agency fees is also increasing as it is recognised that this liability can no longer be placed upon the tenant given the dynamics of the market."Meanwhile, Dubai was recently named by Post Office Travel Money as one of the top value destinations in the world for Brits because of a poor exchange with euro countries.