Latest news with #DIFC-based
What's On
10-04-2025
- Entertainment
- What's On
DIFC Arts Night returns to transform the financial hub into an open air art gallery
You only have four days to see it… It's that time of year when Dubai becomes a canvas of colour with back-to-back art festivals and events taking place across the city. Culture vultures, we know that you're probably really busy already with the line-up, but we're here to add another to your list: DIFC Arts Night. 3 of 12 That's right, the DIFC-based art festival is back this year celebrating all things arts and culture. Now in its 19th edition, DIFC Arts Night is a key event in Dubai's art and culture calendar, which means you can't skip it. Visitors can come together from April 10 to 13, and celebrate art, culture and creativity under the stars. In case you're wondering, no ticket required, so you can check it all out for free. The festival runs daily from 5pm to 10pm at Gate Village, DIFC. PS – There's also free parking available at Gate District 2. During this time, the bustling (and quite confusing) lanes of DIFC will showcase art pieces created by local and international artists and installations. Explore the entire space to discover over 300 captivating works by more than 150 local and international artists (representing over 100 nationalities). *A new arts festival is gracing Bluewaters Island this April* There will also be live performances and entertainment to keep the vibes cool throughout the night. You can enjoy this all with the vibrant DIFC skyline as the backdrop and the cool Dubai breeze in your hair. Want to learn from the pros? Catch some of the thought-provoking panel discussions. Coming up on April 11, Christie's and Dubai Culture will take the stage from 6pm taking a deep dive on the works and inspirations of Piet Mondrian and public art and community Want to show off your own creativity? There are workshops you can partake it, but do note there are limited spaces, so arrive early if you want to secure your spot. For more details, visit Images: Supplied by DIFC > Sign up for FREE to get exclusive updates that you are interested in
Zawya
14-02-2025
- Business
- Zawya
‘UAE warehouse rents set to rise up to 10% in 2025 amid supply shortage'
Warehouse rents in the UAE are expected to further increase by up to 10 percent in 2025, driven by strong demand, low vacancy rates and shortage of industrial land, according to Kunal Lahori, Director of Manrre REIT Logistics Fund, which specialises in institutional-grade logistics and industrial assets across the UAE and GCC. 'Rents have risen 25-30 percent in the past year, with a projected 5-10 percent increase this year,' he told Zawya Projects. Lahori underlined that demand for logistics space remains strong in the UAE, fueled by e-commerce and multinational tenants. However, supply constraints persist due to a shortage of warehouses and industrial land. 'We see shortages in all industrial areas. The demand for Grade A assets is high, with vacancy rates as low as 3 percent,' he said on the sidelines of an event held to announce 'strategic investment' by DIFC-based GFH Partners in the REIT fund. The executive noted that the market is witnessing diverse interest from local and international logistics players, manufacturing firms, and e-commerce giants. For example, UAE's e-commerce sector is growing 20 percent annually, outpacing global trends. 'Growth potential in the UAE, particularly in Jebel Ali, is high as there is a requirement of 40 million square feet (sq ft),' he said. A report by Knight Frank last year underscored the shortage of high-quality industrial and logistics space in the UAE, especially in Dubai. Al Quoz (Grade A) led the way with rents surging 45 percent over the year to AED72-100 per sq ft, while Dubai Investments Park (DIP) saw the highest growth at 48 percent, reaching AED50-70 per sq ft. Strong gains were also recorded in Dubai Industrial City and Dubai South with 38 percent and 26 percent growth. 'We expect some ease in supply in the next 12 to 18 months, and the market to stabilise at a 10 percent increase, driven by continuous demand for high quality assets and expansion of e-commerce,' said Lahori. As property developers cater to growing demand, a strong pipeline for asset acquisitions is emerging. The Knight Frank report highlighted that international investors from the USA, China, and Europe are showing increasing interest in Dubai's industrial sector, attracted by yields of approximately 8.25 percent. Lahori said they are looking at Jebel Ali Free Zone (JAFZA), DIP and National Industries Park in Dubai for further growth. He described GFH Partners' investment as a 'pivotal moment' for the fund, which, he claimed, has consistently delivered a 7-8 percent annual dividend. 'With GFH Partners on board, we are well-positioned to expand our specialist asset class and further elevate Manrre's market presence,' he said. The investment value wasn't disclosed. Founded in 2018 by Palmon Group FZCO, a local logistics developer and owner, Manrre's portfolio is valued at approximately AED 500 million ($136.1 million). It comprises 26 high-quality properties that are 96 percent leased and spans over 1.5 million square feet. These also include last-mile logistics hubs in various locations. (Reporting by Bhaskar Raj; Editing by Anoop Menon)
