Oversupply exerts pressure
Short-term leasing grows in Abu Dhabi
Abu Dhabi_While the capital's residential sector is under pressure due to undersupply, its office sector struggles to keep up with demand, according to Jones Lang LaSalle.
However, short-term leasing is gaining popularity with providers such as Servcorp registering high occupancy rates.
Razan Dozom, marketing manager, Middle East, Servcorp, says, "We notice business people are looking to run a flexible and lean organisation while they focus on their core business without having the hassles of an office to manage.
"In the current economic climate, short-term leasing is the perfect solution for companies that don't want to commit to long-term leases."
Servcorp's virtual office rates start from Dh450 per month while office rents range from Dh9,000 per month.
