By Parag Deulgaonkar http://www.emirates247.com
Dubai winning the bid to host World Expo 2020 will further accelerate demand for office space, which has gained momentum from early this year, according to a new report.
“Over the next year, we anticipate that office occupier demand will continue to rise. But development activity should also quicken, which in turn should keep rents fairly stable,” Knight Frank, a UK-based global real estate consultancy, said in its third quarter office market update.
“In the longer-term, if the emirate is awarded the 2020 World Expo, the office sector may benefit from a general uplift in economic sentiment.” More info