Large supply commercial property in Dubai expected by 2011

14/10/2009 - Dubai Property News
Large supply commercial property in Dubai expected by 2011

Posted by Ashley Waterman

Investors looking for commercial property in Dubai may be pleased to hear they may have a large selection to choose from in coming years.

According to analysts, supply in the sector is expected to double by 2011, the National reported.

Landmark Advisory, a branch of Landmark Properties, said an additional 2.97 million square metres of new space will become available.

This is compared to the current availability of 3.25 million square metres.

Furthermore, Matthew Hammon, head of agency at Jones Lang LaSalle said the market it becoming increasingly competitive with other office centres in the Middle East.

He said the news was particularly good for occupiers.

Meanwhile, Nicholas Maclean, managing director of CBRE, told the news publication that full occupancy for good quality offices is to be expected.

"The demand is coming closer and closer into the centre. The prime location is World Trade Centre to junction two," he commented.

Dubai Investments Park is now home to a state-of-the-art medical centre, which could also attract people looking for Dubai property for sale.

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