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Industrial real estate in Dubai may not have the prestige associated with an upscale residential asset or a Grade A office unit, but investors are still getting handsome yields from such exposures.
A new Knight Frank report states that average rents for Class 1 industrial and logistics real estate in Dubai shot up 18 per cent year-on-year to Dh35 a square foot during the second-half of 2013. The popular areas for investors were Dubai Investments Park ? where a major expansion is going on now ? and the bellwether location for industrial realty, Jebel Ali Free Zone Authority. These two locations had rent gains of 30 per cent and 19 per cent, the Knight Frank report adds. ?By comparison, rental values in Al Quoz saw a relatively moderate annual increase of 9 per cent to Dh38 per square foot,? the report says.
?Enquiries for 50,000?120,000 square foot distribution facilities rose in the second-half… however, due to high absorption rates in the preceding six months, there was little availability for units of this size.?