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Commercial lease market picks up
Observers hope to see some new office stock absorbed without much difficulty
Dubai: In a real estate marketplace that’s been so bereft of good cheer for some time, a trend that is starting to emerge more forcefully could well get hopes floating once again.
This has to do with a gradual pick-up in commercial lease enquiries related to offices located in key locations such as Dubai Media City and DIFC.
The level of enquiries has kicked up a notch or two since the second half of October. What makes this all the more crucial is the interest relates to new office stock, long seen as the problem area because of the significant capacities being raised in this category and what it would mean for future demand and supply.
But with hints starting to seep through of a general improvement in the economy, albeit in a very early phase, market observers are hoping some of the new office stock will be absorbed without much difficulty. But the caveat is this is a flight to quality.