Rents Fall 40% in DIFCMonday, May 25, 2009
A new report by property consultancy CB Richard Ellis finds that commercial rents at the Dubai International Finance Centre (DIFC) have fallen 40% in the past six months, from a peak of Dhs750 ($204) a square foot to Dhs450 a square foot, with some private landlords offering further reductions. Other areas that have been hard hit by declines in occupancy and lease rates are Jumeirah Lake Towers and 'Site C', an area developed by TECOM close to The Greens. Source: AME Info
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