The idea that Dubai will soon boast the most expensive real estate in the world is not as absurd as it sounds. All it takes is a modest extrapolation of growth trends for rentals in the Dubai International Financial Centre, and a continuation of the current cooling off in markets like London Prime and this is a fact.
Dubai's office market is suffering from an acute shortage of space, with 98 percent utilization in the new financial zone, the Dubai International Financial Centre, which has been very successful in attracting global financial services companies companies, the Emirates.
The latest is this week setting Thames River Capital, a boutique fund-of-funds investment manager based in Berkeley Square. The latter told AME Info that the rents in the prime London fell by around 30 percent and the rent agreed, it was just in Dubai was not far off the rent he pays only for additional space in Mayfair.
It takes only a little imagination to see that if the United Kingdom in a recession, the financial and service sector seems to be already in one, then the rents in Mayfair will continue to fall. The new businesses are arriving in Dubai every day, especially in the financial services industry, such as the attractions of Gulf oil revenues are magnetic.
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