September 10th, 2012Upbeat Consumer Trends Reflects in Abu Dhabi Mall Rentals
Dubai, UAE - Abu Dhabi’s mall rentals are starting to inch up again after remaining steady for the better part of the last 12 to 18 months. The hikes — by between 10 to 25 per cent — are apparent on some of the recent lease renewals as well as for new stores opening as part of some of the malls’ expansion programmes.
While Dubai’s leading malls have already gone through the process at the start of the year, it is now Abu Dhabi’s turn.
Industry sources affirm that a firming up of rentals is valid. “Rental rates — across residential and commercial property — are determined by the prevailing business environment and investor confidence,” said Robert Tannoury, property director at the sprawling Dalma Mall.