Dubai’s office market thrives in Q2 2023 amidst global economic uncertainty

Dubai’s office market thrives in Q2 2023 amidst global economic uncertainty

The office market in Dubai has seen a notable increase in demand for top-quality office space in Q2 2023, keeping with previous quarters, as per the Dubai Office Market in Minutes Q2 2023 Report by Savills. Demand was especially evident from banking and financial services, and the technology, media, and telecommunications (TMT) sectors. The city has also attracted new companies, particularly from the US and Europe. Additionally, companies from Asia, particularly India and China, are establishing a presence in Dubai.

The report also sheds light on the working habits that were formed in the post pandemic years and may prove to have a lasting effect than initially expected. In the US, 56% of full-time employees, or roughly 70 million people, have said that they can do job their job remotely. Whilst 51% and 42% work remotely for at least one day a week in Germany and the UK, respectively.

Top-Tier Global Office Markets

This trend is however, far from being uniform on a global scale, as revealed in the Savills Future Office Availability Index – the study analyses top-tier global office markets to better understand the effects of the current macro trends, including costs, availability, pipelines, hybrid working trends, and future office needs.

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