Add to Facebook
download .zip with all pictures
Dubai resident here – depends on the type of property and area in question.
Residential properties tend to have quite high occupancy rates, especially in the areas in this picture (Business Bay/Downtown/Dubai International Financial Centre). This is mostly down to Dubai’s economic recovery the past two years or so – rents have risen up to 30%-40% in some parts of Dubai during this period.
Office towers on the other hand have high occupancy only in certain pockets of Dubai and there’s a lot of empty office space around town. This is because there was a shortage of office space during the boom and a huge amount of office buildings was built to meet the demand. Much of this office space flooded the market just as the economic crisis hit and the result today is that there’s a big surplus of office space sitting empty. That said, this is slowly filling up now with the recovery and more and more previously stalled commercial projects are coming back on line and being completed.