The shortage of office space is primarily driven by a historical mismatch in development focus where developers prioritized residential towers over commercial projects for several years. With the economy booming and over 40000 new companies register…
The shortage of office space is primarily driven by a historical mismatch in development focus where developers prioritized residential towers over commercial projects for several years. With the economy booming and over 40000 new companies registering annually the demand for physical headquarters has skyrocketed while the new supply pipeline is restricted to only 16 percent growth. This structural imbalance ensures that existing quality office spaces remain fully occupied and command premium rental rates.
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