UAE Industrial Market Dynamics, Q2 2024
Summary and analysis of the UAE's current industrial real estate market conditions.
- Faraz Ahmed
- Muhammad Aijaz
- Sara Alameddine
The UAE's industrial market shows resilience driven by demand for quality assets, particularly in established free zones, with notable rental growth in Dubai and Abu Dhabi.
Confident in the enduring demand, developers launched plans for additional industrial stock, exemplified by Dubai Industrial City's 1.3 million sq. m. expansion plan in Dubai. Similarly, in Abu Dhabi, KEZAD is pioneering a project in Al Ain Industrial City, covering 70,000 sq. m.
Abu Dhabi's industrial market gained momentum with a surge in warehouse rents, attracting businesses seeking Grade A spaces, such as those offered by KEZAD and ICAD, with robust occupancy rates indicating strong demand.