Indicators of economic activity suggest that, so far this year, Abu Dhabi’s non-oil sector has experienced healthy growth. That in turn has translated into strong demand for industrial and logistics facilities in the emirate.
After hitting their respective lows, industrial rents in most of the districts that we track have partially reversed earlier falls. In the case of Kizad however, despite an increase in demand in Q3 2013, quoting rents have been left unchanged in order to stimulate further occupational interest.
Rents in districts such as Mussafah, ICAD 1 and Abu Dhabi Airport Company (ADAC) Free Zone are still around 15-25% below their 2010/2011 highs.
In the first nine months of 2013, enquiries were strongest from the plant, engineering and construction (22%) and food and beverage (22%) sectors. Moreover, enquiries from logistics and freight (18%) were higher than those from the pharmaceutical and medical (8%) and technology (7%) sectors put together.
Source : Knight Frank