JLLSJuliette Low Leadership Society (Oklahoma)
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As for the current year and early next, JLLS expects another 4,000 units to be handed over, including the Landmark Tower on Corniche, the Gate Towers on Reem Island and Al Reef Downtown in Al Reef.
Multinationals are using the current soft rental market to upgrade to new premises that are "compliant with corporate space standards", according to the JLLS report.
Government agencies have also been on the lookout for new space, with the Ministry of Justice absorbing 24,000 square metres in what JLLS calls the "largest deal of the year".
Strong local demand has kept vacancy levels at around 10 per cent, despite the significant level of additional supply brought to the market during 2010," the JLLS report said.
According to JLLS, there is currently around 65 million square metres of industrial stock in Dubai, split between free zones and non-free zones.