The study of the company "Kavendish Maxwell" in the real estate sector showed that Dubai is becoming a leading global center for trade and investments. Growth is facilitated by strategic initiatives and innovation policies, while continuing to adhere to the principles of economic diversity.
As a result, it is expected that the demand for office space in Dubai will remain strong. This will be driven by limited supply in premium locations, the development of existing companies, the emergence of startups and companies with diverse personnel, as well as consistent business growth.
The company "Kavendish Maxwell" plans to add about 84,000 square meters of office space to the market in Dubai by 2024. This will be facilitated by key locations such as Sheikh Zayed Road, Dubai Creek, and Media City, which is considered extremely significant in the current context.
During the review, the company expressed the opinion that the office space market in Dubai demonstrates significant growth in both sale prices and rental rates in 2024. This is attributed to business development and international investments, strengthening Dubai's global position as a center for expanding enterprises and new commercial projects.
Additionally, with projected growth in office space in 2025 and 2026, the company warns of special attention to market dynamics and business strategies. In the case of further price increases in 2025, a drop in sales is expected, since the company may be interested in securing long-term office space to avoid future increases in rental costs or a shortage of supply.
