Demand for Grade A office space surpasses supply, according to CBRE
Demand for office space is currently outstripping supply in areas such as TECOM and DIFC, according to a report by CBRE for 1Q2016. This is encouraging new supply, including the ICD Brookfield Place at DIFC, which will includes c1.1 million sqft of Grade A office space and quality retail. c800,000 sqm of new office space is expected to be completed over the next three years, according to the report, 25% of which is located in Business Bay and a further 10% is anticipated in the Dubai Trade Centre District. (ME Construction News)
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