Knight Frank - Dubai Office Market Review, Summer 2023

The Summer 2023 Dubai Office Market Review provides a comprehensive analysis of the performance of Dubai's office market in the first half of the year. The report highlights the strong performance of the market, with rising rents and high occupancy rates across all submarkets. The DIFC submarket is leading the market in terms of lease rates, driven by demand from financial and professional services firms. The report also notes that the market is responding to the global green agenda, with a growing emphasis on sustainability, energy efficiency, and environmentally responsible practices in the construction, operation, and management of properties. Developers who integrate ESG practices are benefiting financially from the growing demand for ESG-rated office buildings, as evidenced by ICD Brookfield Place. The report includes detailed analysis of each submarket in Dubai, as well as trends in supply and demand, leasing activity, and more. Overall, the report suggests that Dubai's office market is well-positioned for continued growth and success in the coming years, with strong fundamentals and a favorable business environment.