Photo by Chandra Balan
For how little can you rent an office on the Sheikh Zayed Road
stretch?
The answer is Dh25 per square feet (Dh269 per square metres) - that’s the asking rent for Fortune Executive Tower in Jumeirah Lakes Towers (JLT).
In Gold Tower, JLT, one can rent from Dh65 per square feet, while in HDS Business Centre, JLT, rentals start from Dh75 per square feet.
Market experts say the rates are a direct result of the supply pipeline dynamics in each community. With JLT having commercial strata-owned towers, landlords are competing fiercely to lease their space, leading to steep rental declines.
Emirates 24|7 reported earlier that in 2011 four new commercial towers were handed over in JLT.
Current leasing rates for office space on Sheikh Zayed Road hover between Dh80 per square feet and Dh170 per square feet. The rates vary on the length of the lease period, amount of space being leased and the quality of services in the building.
The answer is Dh25 per square feet (Dh269 per square metres) - that’s the asking rent for Fortune Executive Tower in Jumeirah Lakes Towers (JLT).
In Gold Tower, JLT, one can rent from Dh65 per square feet, while in HDS Business Centre, JLT, rentals start from Dh75 per square feet.
Market experts say the rates are a direct result of the supply pipeline dynamics in each community. With JLT having commercial strata-owned towers, landlords are competing fiercely to lease their space, leading to steep rental declines.
Emirates 24|7 reported earlier that in 2011 four new commercial towers were handed over in JLT.
Current leasing rates for office space on Sheikh Zayed Road hover between Dh80 per square feet and Dh170 per square feet. The rates vary on the length of the lease period, amount of space being leased and the quality of services in the building.
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