Some Dubai office space will be empty forever, says CBRE

14 October 2010

Poor build quality and location will put customers off

Some office buildings in Dubai will never be occupied due to their poor build quality or location, according to the Middle East managing director of CB Richard Ellis Group. “Some buildings will be permanently vacant and will never be let because they are wrongly located, they are of poor quality or have the wrong legal structure in place,” Nicholas Maclean was quoted as saying. Many buyers with no experience in property management bought floors in planned office buildings before any work started, resulting in poorly finished office towers in inconvenient locations with multiple owners, he said. “The further you are away from Sheikh Zayed Road, the less desirable the location and therefore the quicker rents fall. Why would you go there when you can get accommodation for a relatively low price closer to town?” he added.

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