Dubai rents on the up

09/09/2011 - Dubai Property News Posted by Neil King
Dubai rents on the up

Rental rates on the Shaikh Zayed Road (SZR), Dubai's original stretch of high rise buildings, are once again moving in a positive direction, UAE property investors have been told.According to recent reports in Gulf News, landlords with corporate space in the area are now "sitting pretty".Indeed, the publication claimed that current lease rates are set at around Dh130 per square foot, meaning the market has shown a great deal of resilience in recent months.Porush Jhunjhunwala, head of commercial sales and leasing at Better Homes, told the news provider: "Lease rates, to a good extent, are dependent on the occupancy levels and for clients willing to commit to floor plates of 25,000 square feet and more, there will always be some accommodation being made on the part of the landlords. "The recent stability in SZR office rentals bodes well for the commercial real estate space, more so if the trend continues over a longer period."