Dubai Retailers Grab Prime Space Despite High Rents

Many overstretched tenants may disagree, but the highest rental rates in Dubai are not found in the residential sector, but in the glittering world of retail, latest research shows. Retail rental rates in Dubai have not changed significantly since the first quarter of 2008, with high-end retail locations like BurJuman and Mall of the Emirates fixing rents between Dh400 to Dh600 per square foot.

Average retail rental rates are fixed at Dh600 per square foot in Dubai and Dh400 in Abu Dhabi. Data from Jones Lang LaSalle show that the average rent for convenience stores and neighborhood centers is Dh200 to Dh25 per square foot. For regional and super regional centres this goes up to Dh400 to Dh550 per square foot.