800,000m2 of Dubai office space to complete in next three years

Around 800,000m2 of new office space is expected to be completed over the next three years in Dubai, with demand outstripping supply in some areas.
The Dubai market is in good health, according to a market report by CBRE, with strong demand for well-located offices.

DMCC has benefitted from positive take-up rates, driven by start-ups and SMEs, as have TECOM and DIFC, which may encourage a ‘new wave of development’.
Mat Green, Head of Research & Consulting, CBRE Middle East, said: “Overall, the availability of good quality single held offices remains tight, with a surge in pre-leasing activity over the last 24 months stripping a large portion of the recently delivered and upcoming office space from the market before completion.”

Of the 800,000m2 of new space, the Business Bay masterplan will contribute around 25%, with another 10% coming from projects in the Dubai Trade Centre District.
The highly anticipated Brookfield Place development in DIFC will add 1.1mn square feet of office and retail space.

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