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Rentals in Dubai’s industrial and logistics districts are up an average 4 per cent in the last six months, with Jebel Ali Free Zone being the favoured location for “global occupiers”, according to the consultancy Knight Frank.
Capital values, meanwhile, remained flat to approximately Dh250-DH300 a square foot, it added.
As for Abu Dhabi’s industrial districts, rents were stable in the same period. “The lack of quality accommodation being in short supply across the industrial market is one of the key reasons for rentals rates holding fourth quarter of 2014 levels,” according to William Neill, Partner, Commercial Leasing.
Leasing at all of the leading free zones are at optimum levels, while Dubai Industrial City continues to tap sizeable investments across its multiple zones.
The number of enquiries did decline “slightly” but has not affected rentals “as there is limited quality industrial accommodation and no additional supply is expected in the near term”.
The maximum enquiries received in Abu Dhabi over the third quarter were from the construction sector (50 per cent) while the average size of requirements for this sector was 1,500 square metres.
Source: Staff Report, gulfnews.com