The UAE economy is on the road to recovery following the effects of the global pandemic. In the second quarter of 2021, office rents in Dubai and Abu Dhabi began to stabilise. The technology, media and telecoms (TMT) sector is currently driving increases in demand, which mirrors the situation in many other global cities around the world. 

As a property expert who has been involved in many real estate businesses and start-ups, Ryan Mahoney of Dubai, UAE will be welcoming the return to something resembling normalcy across the commercial property sector.  

Some of the most popular areas for office rental in Dubai are outlined in the infographic attachment to this post. 

Increased Business Confidence 

Increased business confidence has been cited by experts as one of the primary reasons for the stabilisation of commercial property lease values in Dubai in recent months. Business expansion activity increased consistently throughout the first half of 2021, despite ongoing measures to control the spread of the COVID-19 virus and its variants.  

Analysts from Knight Frank credited the rapid increase in job creation rates for the rise in requirement for office space. Government initiatives implemented with a view to kick-starting economic recovery have also driven increased demand, with benefits such as tax relief and an easing of regulations for commercial companies helping to generate new business and expansions within the area. 

The embedded PDF looks at some of the key benefits for business owners of relocating their company to Dubai. 

Affordable Rents for Businesses 

One advantage for business owners in Dubai and the wider UAE is the competitiveness of rates for business expenses such as renting office space. While premium office rents have increased slightly over the past year or more, overall Dubai offers a more economical option than most other global business hubs including Hong Kong, Sydney, Geneva, Paris, Tokyo, London, New York, Mumbai and Beijing.  

Abu Dhabi is even more affordable at present, with the average rents for premium commercial space standing at around $57 per square metre, compared to $84 per square foot in Dubai. Post-pandemic economic growth in Dubai may be gradual but there is every indication that it is continuing.  

More information about the sectors driving the Dubai economy can be seen in the short video attachment.