Strata space development falls out of favour in Dubai
Commercial property developers in Dubai are no longer interested in building strata space because of its unpopularity among tenants, according to CBRE’s UAE head of research, Matthew Green. Speaking at the media launch of the property adviser’s Dubai Annual Market Update, Mr Green said there had been an increasing polarisation in the commercial sector between the market for prime, single ownership space (particularly in free zones) and strata-owned units. “Developers aren’t really considering – certainly the majority of them – building strata any more. That idea has flown,” Mr Green said. Read the article…………..
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