DUBAI AMONG MOST EXPENSIVE OFFICE MARKETS IN EMEA REGION

DUBAI, July 14 (Bernama) -- The average office rent in Dubai is 995 euros
per square metre per annum, making it the second highest market rate in Europe,
the Middle East and Africa (EMEA), according to research by CB Richard Ellis
(CBRE).

CBRE's Office MarketView (Q1 2009) showed that London's West End topped the
list of the most expensive office rents at 1,019 euros.

Moscow is ranked third at at 906 euros, followed by Paris at 700 euros and
St Petersburg at 657 euros.

CB Richard Ellis Group is a commercial real estate services firm
headquartered in Los Angeles.

CB Richard Ellis Middle East associate director of research Matthew Green
said despite the much publicised downturn in the Dubai market, prime office
rental rates remained comparatively high and second only to London's West End.

"However, with a significant portion of supply still to enter the market
this year we are likely to see further rental reductions as landlords compete to
secure tenants," he said in a statement.
-- BERNAMA