Abu Dhabi has seen the fifth fastest declines in office rents over the past year, according to a new global report by research house CB Richard Ellis.

Rental values for commercial properties in the UAE capital have fallen nearly 39% according to the study which compared prices for the third quarter of 2009 and the same period last year.

Dubai's office rents have dropped by 27.3% in the same period, CB Richard Ellis added, putting it 18th in the global list of 50 locations.