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Bhomes

Commercial Jumeirah Lake Towers

August Report

This number of transactions and the volume of enquires has been steady and we Betterhomes we had one of our busiest summer periods with prices on leases predominantly remaining the same and having had a good August the market looks good for September. The current office lease prices are ranging from 45 to 70 AED/sq. ft. which mainly depending on the building location, accessibility and quality of fit out.

The good news for tenants is that landlords are willing to be more flexible on offering rent free periods and payment options. Retail lease prices have been under pressure with prices experiencing a downward trend and ranging between 120-150 AED/sq. ft..

Sales prices have decreased due to the rising vacancies as well as rents lowering due to market conditions. Sales transactions have been taking place primarily with investors looking to purchase yield-based assets with good ROI and long-term leases in place. Sales prices are running from 400 – 800 AED/sq. ft..

 

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