42 | International Sanjay Chimnani says yields in Dubai are currently averaging about 6% for retail and office properties, rising to 8.5% for industrial assets. Sanjay believes yields on retail could fall to 5% as new supply enters the market. In the industrial segment, where vacancy rates are down to just 5%, yields are forecast to climb to 9%, with Sanjay saying logistics and industrial activity is on the way up. Office yields may also rise as the market is now nearing 80% plus occupancy – the highest in eight years. The COVID pandemic has had limited impact in Dubai. Sanjay explains, “We had five weeks of lockdowns and restrictions, and the impact was felt primarily by the hospitality sector due to disruption in tourist arrivals.” The team at Raine & Horne Dubai achieved recent success with the lease of office space and a warehouse to Coca-Cola, Dubai. Sanjay Chimnani sanjay.chimnani@dubai.rh.com.au Dubai
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