The UAE Real Estate Market - A Year in Review 2022
UAE's real estate sector to remain resilient in 2023, with growth prospects ahead
- Faraz Ahmed
- Muhammad Aijaz
- Sara Alameddine
Grade A rents in Dubai's CBD increased by 21% year-on-year in Q4 2022, to an average of AED 2,100 per sq. m. per annum. Meanwhile, healthy leasing activities in Abu Dhabi have largely supported the 8% annual increase in Grade A rents to an average of AED 1,790 per sq. m. per annum. Furthermore, rising office demand and inadequate new completions translated into lower levels of availability in both cities. In the last quarter, vacancy rates in Dubai and Abu Dhabi fell to 11% and 23%, respectively.
Read our latest UAE Real Estate Market report to find out more.