UAE’s office market shows signs of recovery in Q4

UAE’s office market shows signs of recovery in Q4

The office market in the UAE displayed signs of recovery in Q4 2021, following several months of muted activity, according to the 2021 year-end report by leading real estate group JLL. In Dubai’s CBD, improving demand for good quality office stock combined with relatively limited supply in this segment translated into Grade A rents increasing by 2% year-on-year to an average of AED 1,712 per sq. m. per annum. On the same basis, Grade A rents in Abu Dhabi also rose by 5% to an average of AED 1,650 per sq. m. Towards the year-end, the UAE saw the introduction of reforms such as a change to the work week from Monday-Friday, aligning with global markets, as well as new labour laws and visa options. var width=document.documentElement.clientWidth;if(width>=320&&width<728){}; googletag.cmd.push(function(){try{var d=document.documentElement.clientWidth;var a;var c="/21857811890/en.zcom/";var b;if(d>=320&&d<728){a=[300,250];b=["mobile_mr_story"]}else{a=[300,250];b=["MR_Story"]}var h="MR_Story";var g=googletag.defineSlot("/21857811890/en.zcom/",a,"div-gpt-ad-MR_Story").setTargeting("type",b).addService(googletag.pubads());gptAdSlots.push(g);if(h!="MR_Story"){googletag.pubads().collapseEmptyDivs(true,true)}googletag.pubads().enableSingleRequest();googletag.enableServices();if((h=="PSB_Left")||(h=="mobile_psb_left")||(h=="PSB_Top")||(h=="mobile_psb_top")||(h=="PSB_Bottom")||(h=="mobile_psb_bottom")||(h=="PSB_Middle")||(h=="mobile_psb_middle")||(h=="leaderboard_home")||(h=="leaderboard_bottom_home")||(h=="mobile_leaderboard_home")||(h=="mobile_leaderboard_bottom_home")){setInterval(function(){googletag.pubads().refresh([g])},240000)}}catch(f){console.log("Error loading Ad banner "+h)}}); try{googletag.cmd.push(function(){googletag.display("div-gpt-ad-MR_Story")})}catch(e){console.log("Error displaying Ad banner "+bannerName)}; The JLL report highlights that over the medium to long-term, such initiatives will help bolster the UAE’s competitiveness by attracting and retaining a skilled workforce and making it a more appealing location to live and work. "The pandemic-induced uncertainty about future business conditions and changes in employee preferences have underpinned a surge in enquiries for flexible space