Industrial rents in Dubai continue to recover
Rents for industrial properties in Dubai continue to recover from the pandemic due to rising demand for warehouse space. Rates in the Al Quoz area are 0.4% below pre-pandemic levels. A similar trend is being seen in other regions.
“Average warehouse rentals continue to recover rapidly, and in large part this may be due to the government’s strong response to the pandemic, which has helped the economy recover quickly,” Knight Frank reported.
Due to Expo 2020 Dubai and strong growth of the retail, travel and tourism sectors, the UAE economy has recovered strongly from the slowdown caused by the pandemic. Also, the success of the UAE vaccination program has allowed the government to ease restrictions against COVID-19.
Source: The National News