As construction of high-rise commercial properties in Dubai continues to boom, the United Arab Emirates has now been formally introduced to true-sale CMBS, courtesy of HSBC Bank Middle East. And just as tenants are filing into office space as soon as the paint dries, demand for future CMBS is expected to grow.

UAE CMBS Vehicle No.1 Ltd. securitized $67 million worth of office space in the Dubai Technology and Media (TECOM) Free Zone, located next to Emaar Business Park, which is described as "a vibrant high-growth business community with a range of business opportunities for entrepreneurs as well as national, regional and international companies," according to one real estate agent who help rent the facility to its current 100 percent capacity.

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