(MENAFN) Potential occupiers are becoming demanding in their search for special lease rates and typically lower than the recent market average, while the industrial real estate in Dubai is not immune to a softening in market dynamics.
Accordingly, due to market conditions, landowners are recently willing to drop rentals and increase incentives, involving rent-free periods to attract potential tenants.
In addition, all tracked locations have seen rentals fall or remain flat over the last year, Class 1 industrial assets have been the most resilient.
Moreover, the Jafza sub-market saw no material change in rentals over the past year and helped by high occupancy rates for warehouses and light industrial units in the primary market.
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