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according to the latest City Profile released by JLL MENA.
In the short term, Jeddah’s office sector will remain tenant favourable due to existing oversupply and rent declines. Over the next twelve months, supply handovers will push up vacancy across Jeddah and spark relocation demand by tenants seeking to update to higher quality properties in better locations. Consequently, landlords will improve lease concessions like rent free period, flexible payments and other terms to attract occupiers.
Soraka Al Khatib
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