We think we have it tough in the US with vacancy rates in the mid to upper teens.
According to a report in ArabianBusiness.com, "Office vacancy rates in Dubai are expected to exceed 50 percent over the next year as new supply continues to be released, a new report by Jones Lang Lasalle has said. The study said city-wide vacancy rates have increased to around 38 percent with levels set to rise further."
By comparison, the US is in pretty good shape. Even Detroit has an office space vacancy better than that; at around 30%. The deals being made in Dubai must be pretty spectacualr with a vacancy rate that high.Office Space , Office Vacancy Rate