Oracle, Emirates NBD REIT’s largest tenant, has renewed its lease on the Edge building for an additional five years. Oracle currently occupies 76,422 square feet across 5 floors of the building, which enjoys a privileged location in Dubai for the Internet. Emirates NBD REIT, where recent leases have reached five years, which is equivalent to 23% of the total available office space, whose contracts have been renewed in these buildings.
The new contracts and lease renewal contracts contributed to a significant improvement in the expected average of unexpired leases for the company’s portfolio, as it increased from 3.2 to 3.9 years.
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