Dubai’s commercial real estate crisis: Rental prices surge up to 300% in prime areas

The steadily deteriorating situation is said to be giving sleepless nights to commercial tenants

Alarm bells are ringing loud across businesses in Dubai in the wake of a runaway increase in office and retail spaces rentals – estimated to be up to 300 percent in some of the prime areas in the last 24 months – due to an acute demand-supply crunch in the commercial real estate sector in the city, industry insiders said.

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