Residential rents in Dubai shot up 22 per cent year-on-year, but still lower compared to the previous figure, data released by Asteco Property Management, a property services consultancy firm in the UAE, show. Residential buildings along Shaikh Zayed Road continue to be the most expensive, recording the highest annual rental growth of 51 per cent. Bur Dubai and Ghusais areas posted increases of 42 per cent and 40 per cent respectively. "Bur Dubai continues to hold its position as the preferred location offering a variety of conveniences, transport options and entertainment despite traffic woes," Asteco said in a statement yesterday, adding that the area has an occupancy rate of 90-95 per cent. Annual rents for studios and one-and two-bedroom apartments on Shaikh Zayed Road, Downtown Burj Dubai, Jumeirah Beach Residence and...
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