Mideast office space cost up 14% in 2013: report

February 27, 2014 11:00 am

Global consultancy firm, Cushman and Wakefield, has said office rents increased by 3% globally in 2013, while expenses grew by 14% in the Middle East and Africa, The Daily Star has reported. The Lebanese capital’s downtown office space was ranked the 24th most expensive in the world in 2013, while regionally, Beirut’s Central Business District came third with the annual cost of €505 ($694.68) per square meter, after the Dubai International Financial Centre (€734) and Doha (€659). Manama and Amman trailed at €231 and €179 per square meter, respectively, said the report.