Property Valuation

Investing in commercial real estate in Dubai can be a lucrative venture, given the city's thriving business environment and strategic location. Whether you're looking to start a business or expand an existing one, obtaining a mortgage for a commercial property can be a smart financial move. This guide will walk you through the key steps involved in securing a mortgage for a commercial property in Dubai.Understanding the Dubai Real Estate Market:Before diving into the mortgage process, it's crucial to have a solid understanding of the Dubai real estate market. Dubai has a diverse commercial property landscape, including office spaces, retail outlets, warehouses and more. Research the specific market segment that aligns with your business goals and budget.Financing Options:In Dubai, various financial institutions, including local and international banks, offer commercial property mortgages. Research and compare the financing options available to find the one that suits your needs. Consider interest rates, loan terms and any additional fees associated with each option.Eligibility Criteria:To qualify for a commercial property mortgage in Dubai, you'll need to meet certain eligibility criteria. Typically, lenders will assess factors such as your business's financial stability, credit history and the type of commercial property you intend to purchase. Prepare financial documents, business plans and any other relevant information that lenders may require during the application process.Engage a Qualified Real Estate Agent:Navigating the Dubai real estate market can be complex and having a qualified real estate agent can be invaluable. An experienced brokerage such as CRC Property can help you identify suitable properties, negotiate terms and guide you through the legal and regulatory aspects of the transaction.Due Diligence:Before finalising your property selection, conduct thorough due diligence. Ensure that the commercial property complies with local zoning regulations, has clear ownership titles and is free from any legal encumbrances. This step is crucial in avoiding potential complications down the road.Legal Requirements:Dubai has specific legal requirements for property transactions. Engage the services of a qualified legal professional to ensure all contracts and agreements comply with local laws. The legal expert can also assist in obtaining the necessary approvals from relevant authorities.Loan Application Process:Once you've selected a property and completed your due diligence, it's time to initiate the loan application process. Prepare a comprehensive application package, including your business and financial documents and submit it to the chosen lender. Be prepared for a thorough assessment of your financial health and the viability of your business.Negotiate Terms:After the initial evaluation, engage in negotiations with the lender to secure favorable terms for your mortgage. Discuss interest rates, loan duration and any other relevant conditions. A skilled negotiator can help you achieve terms that align with your business strategy and financial capabilities.Conclusion:Securing a mortgage for a commercial property in Dubai requires careful planning, research and adherence to legal requirements. By understanding the local real estate market, exploring financing options and working with experienced professionals, you can navigate the process successfully. As Dubai continues to be a hub for business and investment, a well-executed commercial property investment can contribute significantly to the success of your enterprise.About CRC Property CRC (Commercial Real Estate Consultants) is a brokerage firm specialising in commercial properties and affiliated with Betterhomes. The company was founded by a group of creative and forward-thinking individuals in the real estate industry. CRC mainly focuses on serving local and international clients who want to sell, lease, or invest in commercial properties to achieve greater value. With a team of 50 property experts, we understand the business of commercial real estate. Our property consultants are handpicked and trained to the highest standards to professionally represent our brand and your interests. Leveraging best-in-class technology and support, our agents provide comprehensive options to strategic direction - now and long into the future. With proven track records and an ever-present eye on market trends, CRC makes it our business to develop an innate understanding of yours.

Whether you're a seasoned property owner or a prospective buyer, knowing the current value of your property is paramount in navigating the dynamic real estate landscape of this vibrant city. In this blog post, we'll explore the reasons why understanding the current value of your property in Dubai is not just a prudent financial move but a strategic one that can shape your real estate endeavors.Market Dynamics and Trends:Dubai's real estate market is known for its rapid fluctuations and dynamic trends. Factors such as economic conditions, infrastructure development and geopolitical events can significantly impact property values. By staying informed about the current value of your property, you gain a valuable insight into the market dynamics and can make informed decisions regarding your investment strategy.Financial Planning and Investment Strategy:Knowing the current value of your property allows you to assess its performance within your investment portfolio. Whether you're considering selling, refinancing or diversifying your real estate holdings, an accurate valuation provides the foundation for effective financial planning. It enables you to make strategic decisions aligned with your overall investment goals and risk tolerance.Risk Mitigation:In any investment, risk management is crucial. Real estate values can be influenced by various external factors, including economic downturns or regulatory changes. Regular property valuations help you identify potential risks and take proactive measures to mitigate them. Whether it's adjusting your financing structure or exploring alternative investment options, being aware of your property's current value empowers you to navigate uncertainties with confidence.Negotiation Power:If you're considering selling or leasing your property, knowing its current value provides you with a powerful negotiating tool. Armed with accurate information, you can confidently engage in negotiations, ensuring that you receive a fair price for your property. Similarly, if you're looking to expand your real estate portfolio, understanding the market value gives you an advantage in negotiating favorable terms.In the ever-evolving real estate landscape of Dubai, knowledge is power. Regularly assessing the current value of your property is not merely a financial exercise; it's a strategic move that empowers you to make informed decisions, manage risks and navigate the dynamic market with confidence.CRC Valuations CRC Valuations, a distinguished player in the realm of Property Valuations in Dubai, comprises a team of highly qualified RICS chartered surveyors with expertise in both residential and commercial valuations. Specializing in diverse asset classes, including apartments, villas, offices, retail spaces, and large-scale development projects, CRC Valuations delivers independent and comprehensive reports. The team's proficiency extends to full-story buildings, ensuring a holistic approach to property valuation in the dynamic Dubai market. Servicing clients across various sectors, CRC Valuations is committed to providing tailored solutions for a multitude of purposes, reflecting a nuanced understanding of each client's unique needs. With a dedication to precision and independence, CRC Valuations is the go-to choice for those seeking reliable and bespoke Property Valuations in Dubai. If you find yourself in need of a valuation, rest assured that CRC Valuations stands ready to offer expertise and assistance tailored to your specific requirements. 

Have you ever wondered how experts determine the value of a company, property, or investment? Valuation might seem like a complex puzzle, but fear not! In this article, we'll break down the three main valuation approaches and delve into five valuation methods, all explained in simple terms.Valuation Approaches: The Big PictureValuation is essentially estimating the basis of value of something. Bases of value include market value, fair value & worth. To make this process more structured and accurate, professionals use three main approaches:1. Income Approach: Imagine you're buying an apartment to rent out. The income approach considers how much income the property can generate relative to its costs. If the potential rental income is high, the property's value goes up. This approach is like looking into the future and figuring out how much money an investment will make.2. Market Approach: Have you ever looked at similar homes for sale when determining the value of your own? That's the market approach! It involves comparing the subject property or company to similar ones that were recently sold or valued. This method relies on the idea that similar properties should have similar values with adjustments made for differing characteristics. Property characteristics include, location, condition, number of bedrooms and view etc.3. Cost Approach: Think of this as starting from scratch. The cost approach calculates the value by adding up the cost to build or replace a property, subtracting any depreciation (wear and tear), and arriving at the final estimated value / cost.Valuation Methods: Cracking the CodeNow that we understand the three approaches, let's dive into the five most common valuation methods, each falling under one of these approaches:Income Approach:Investment Method: This method is all about analysing current income and forecasting the future income an investment will generate. If an investment is expected to produce high returns, relative to its costs, its value will be higher. The investment method can be broken down into two techniques which include the traditional investment method and the Discounted Cashflow (DCF) method.Profits Method: Professionals often use this method and is typically used for properties with trading potential. It looks at historical and projected profits to determine a company's or property’s value relative to its target rate of return.Residual Method: This method focuses on the residual value of a plot of land or under-construction property or project. This method uses a top down approach with the value derived by substituting associated development costs from the property’s overall Gross Development Value (GDV), resulting in a residual land valuation. This method can be considered as combination of all three valuation approaches. A DCF technique is often used for this method and is typically adopted more than the basic residual method. It is worth noting that the residual method of valuation is very sensitive to assumptions and inputs.Market Approach:Comparable Method: This method looks for and analyses similar properties or companies that were recently sold or valued. By comparing prices whilst making adjustments for differing characteristics, you estimate the value of the subject property or company. This method of valuation can be considered as the most accurate method of valuation for certain property types, particularly residential apartments and villas.Cost Approach:Depreciated Replacement Cost Method: This method factors in the cost of replacing the asset minus the depreciation it has endured over time. The value of a property based on the cost approach is estimated by considering the cost of rebuilding it while accounting for its wear and tear / depreciation. This method of valuation is typically considered as the method of last resort and is typically used for valuing real estate assets that do not transact in the open market. Examples could include mosques, oil refineries & lighthouses. This method is like calculating the cost of building a new asset identical to the one you're valuing.Final ThoughtsValuation might seem like a maze, but armed with the knowledge of these three approaches and five methods, you're better equipped to navigate through it. Whether you're buying a house, investing in a company, or estimating the value of a vintage collectible, these valuation approaches and methods provide you with the tools to make informed decisions.Work with us to experience the expertise of our RICS qualified professionals to accurately determine the value of your most prized assets.

In today's fast-paced world, where remote work and flexible schedules are becoming the norm, the significance of a well-designed office space cannot be overstated. A thoughtfully decorated workspace not only enhances productivity but also reflects your personality and work ethos. Whether you're working from a home office or a traditional corporate setting, there's a plethora of office decor themes to explore. In this blog post, we'll delve into various office decor looks and provide tips on how to achieve them.1. Minimalist Marvel Simplicity is the key to this theme. Opt for a clutter-free environment with clean lines and a monochromatic color palette. Choose functional yet elegant furniture and limit decorative elements to a select few. Incorporate storage solutions to keep your space organized. A single piece of art or a motivational quote on the wall can serve as a focal point. Utilize natural light and add a touch of greenery with a small potted plant.Tips to Achieve the Minimalist Look:Select neutral colors like whites, grays, and blacks for furniture and walls.Invest in multi-purpose furniture with built-in storage.Keep only essential items on your desk and shelves.Choose functional lighting fixtures to maintain the clean aesthetic.Opt for a high-quality ergonomic chair for comfort and style.2. Rustic RetreatInfuse warmth and character into your workspace with a rustic theme. Exposed brick walls, wooden beams, and vintage furniture can create a cozy and inviting atmosphere. Incorporate earthy tones and textures for a harmonious feel. Antique accessories, such as an old typewriter or a vintage desk lamp, can add charm to your space.Tips to Achieve the Rustic Look:Use reclaimed wood for furniture or shelving.Incorporate textiles like burlap, wool, and plaid for a cozy touch.Choose warm, earthy color tones such as browns, creams, and muted greens.Decorate with vintage or antique items like old maps, globes, or worn leather-bound books.Include soft, ambient lighting through vintage-style lamps or Edison bulbs.3. Modern ChicFor a contemporary and sophisticated office space, opt for a modern chic theme. Embrace sleek lines, metallic accents, and a mix of textures. Choose a neutral base color and add pops of bold hues for visual interest. Incorporate statement pieces like a designer chair or a unique desk.Tips to Achieve the Modern Chic Look:Select furniture with clean, sleek designs and metallic accents.Choose a neutral color palette with a few vibrant accent colors.Integrate reflective surfaces like glass or mirrored furniture to enhance the modern feel.Incorporate abstract art pieces or bold geometric patterns.Invest in high-quality technology accessories that align with the modern aesthetic.4. Nature's HavenBring the outdoors in with a nature-inspired theme. This decor style focuses on incorporating natural elements like wood, stone, and plants to create a calming and rejuvenating environment. Biophilic design principles, such as large windows and indoor plants, can boost productivity and overall well-being.Tips to Achieve the Nature-Inspired Look:Use wooden furniture and accents to mimic nature's textures.Integrate a variety of indoor plants to enhance air quality and aesthetic appeal.Opt for earthy and calming color tones like greens, blues, and browns.Allow ample natural light to flood your workspace.Decorate with nature-themed artwork or photographs.In conclusion, the right office decor theme can significantly impact your work environment and productivity. Each theme discussed here offers a distinct ambiance, catering to diverse preferences and work styles. When decorating your office space, consider your personal taste, the nature of your work, and the atmosphere you wish to create. By thoughtfully selecting furniture, colors, accessories, and lighting, you can transform your workspace into a place that not only boosts efficiency but also inspires creativity and reflects your individuality.

Have you ever wondered how to do property valuation in Dubai? If you are thinking of buying or selling a property in Dubai, before you do, it’s important to understand how to determine the value of the properties in this city. It is not as simple as looking at the market value of similar properties in the area. Many factors go into property valuation, such as location, age of the property, condition of the property, etc. This blog will cover all you need to know about commercial property valuation in Dubai. We will discuss the different methods of valuation, as well as the factors that affect property value. By the end of this blog, you will have a good understanding of how to do valuation in Dubai and what you can do to maximise the value of your property. What is a Property Valuation? A property valuation is an estimate of the worth of a property. There are a lot of factors on which the evaluation is based, including the property’s location, age, size, condition, and more. Professional appraisers generally conduct valuations and use them for various purposes, such as setting the asking price for a property, determining its insurance value, or assessing its market value. Considering buying a property in Dubai, it is a good idea to get a valuation before making an offer. It will give you an idea of what the property is worth and help you to negotiate a fair price. The valuation process can be complicated, but our team of experts can help you through it. We understand the market in Dubai and can provide you with an accurate valuation of your property so that you don’t have to look for other property valuation companies in Dubai. The Process of Valuation The valuation process in Dubai is similar to that of other global markets. However, there are a few key things that make it unique. For one, the process is often faster in Dubai due to the high number of transactions that take place. It means that valuators have to be able to work quickly and efficiently in order to get the job done. It is not as complicated as it may seem at first. In fact, there are only a few key steps that you need to follow to get an accurate valuation for your property. First, you will need to find a registered valuer in Dubai. There are several firms that offer this service, so it should not be too difficult to find one that suits your needs. Once you have found a reputable valuer, they will physically inspect your property. This inspection determines the size, condition and location of your property. After the physical inspection, the valuer will research the current market value of similar properties in the same area. It will help them to come up with an accurate valuation for your property. Finally, the valuer will provide you with a report that includes their findings and the property valuation certificate. Another key thing to keep in mind is that the valuators in Dubai are often more experienced than in other markets. The market is constantly changing and evolving, and valuators need to adapt to the changes. It means that they need to have a good understanding of the market and provide accurate valuations. Why is Property Valuation Important? Property valuation is important for a number of reasons. First and foremost, it ensures that you’re getting a fair price for your property. No one wants to overpay for a property, and a valuation can help to ensure that you’re not doing just that. Valuations can also help to give you a better understanding of your property’s worth. It can be useful information to have if you’re looking to sell your property in the future. And finally, valuations can also help to resolve disputes between buyers and sellers. If there’s a disagreement over the price of a property, a valuation can help to settle the matter. Different Methods of Property Valuation When it comes to valuation, there are a few different methods that can be used. The most common practice is Comparative Market Analysis (CMA). This method is where you compare the property in question to similar properties that have recently sold in the area. It gives you a good idea of what the property is worth in the current market. Another method used is the Income Approach. This method looks at the potential income that the property could generate, such as rent or future sale price. It is a good method to use if you’re looking at an investment property. Finally, there is the Cost Approach. This method looks at the value of the land, cost of the materials, and labour that went to build the property. It is a good method to use if you’re looking at a new build property. How to Choose the Right Property Valuation Method? There are a number of different methods used to value property in Dubai, and it can be tricky to know which one is right for you. The most common methods are the Replacement Cost Method, the Market Value Method, and the Income Approach. Each method has its own advantages and disadvantages, so it’s important to choose the right one for your needs. The Replacement Cost Method is often used for new developments, giving a more accurate representation of the property’s true value. The Market Value Method is more commonly used for older properties, as it considers the current market conditions. The Income Approach is often used for commercial properties, as it considers the property’s potential rental income. To choose the right property valuation method in Dubai, you’ll need to consider your specific needs and requirements. Pros and Cons of Property Valuation Regarding property valuation in Dubai, there are pros and cons to consider. On the plus side, a property valuation can give you a good idea of your property’s worth. It can help set a price for your property when you’re ready to sell. It can also help you understand how much your property has increased in value over time. On the downside, a property valuation can be costly and time-consuming. And in some cases, the valuation results may not be entirely accurate. So it’s important to weigh the pros and cons before deciding whether to get your property valued. Final thoughts It is no secret that Dubai is one of the most expensive cities in the world. So, if you’re considering buying property here, it is important to understand how property valuation works. In this blog, we’ve covered everything you need to know about property valuation in Dubai. We’ve looked at the different methods used to value property and the factors that can affect the value of your home. We hope this blog has helped you better understand Dubai’s property valuation process. With this knowledge, you can be sure that you are paying a fair price for your home.

The Dubai real estate market is one of the world’s most dynamic and diverse. There has been significant growth in the market, with new developments and projects springing up all over the city. If you are considering buying or selling a property in Dubai, getting a property valuation service is important. A property valuation is an estimation of the worth of a property, usually based on recent sales in the area, the property’s size and amenities, and other factors. In Dubai, property valuation services are critical for many reasons. They can be used for taxation purposes, to determine the value of an insurance policy, or to aid in the sale or purchase of a property. This blog will discuss why you must go for property valuation services in Dubai and how you can find the right one. Why is a property valuation service important in Dubai? If you’re considering buying or renting a property in Dubai, it’s essential to research and understand the market. This will help you make the best decision for your needs and budget. In order to make sure that you are getting the most out of your commercial property in Dubai, it is important to consider getting a property valuation service. This will help you to understand the value of your property, as well as the market trends in Dubai. Remember that the value of commercial property in Dubai can fluctuate quite quickly. So, it is vital to keep up-to-date with the latest trends. A property valuation service in Dubai can provide an accurate and unbiased assessment of your property’s value. This can be helpful when you are looking to sell or rent your property, as it can give you an idea of what price to expect. A property valuation report will consider several factors, such as the location of the property, its size, age, condition, and any upgrades or renovations that have been carried out. The report will also look at comparable properties in the same area to determine a fair market value for your property. If you are considering selling or renting your property, getting a property valuation service in Dubai is well worth it. What are the benefits of using a property valuation service in Dubai? When it comes to property in Dubai, it is important to know the value of your investment. A property valuation service can give you an accurate estimate of your property’s worth. Hence, it can help you make informed buying, selling, or renting decisions. There are many benefits to using a property valuation service in Dubai. Here are a few of the most important ones: You will get an accurate estimate of your property’s value.You can make informed decisions about buying, selling or renting your property.You will have a valuable resource when it comes time to negotiate with buyers or renters.You will be able to ensure you are getting the best return on your investment.You will be able to avoid overpaying for your property An accurate valuation will ensure that you can sell or rent your property for the right price and also that you can budget for any future repairs or renovations that may be required. Property valuation will consider any changes in the market, such as changes in property prices or rents and any changes to the property’s condition. The valuation will also consider any property’s unique features, such as its location or history. What should you look for when choosing a property valuation service in Dubai? When choosing a property valuation service in Dubai, you should keep a few key factors in mind. First and foremost, you want to ensure that the service is accredited and licensed to operate in Dubai. This will give you peace of mind knowing that the service is reputable and reliable. Secondly, you’ll want to consider the experience of the property valuation service. How long has the service provider been in operation? What kind of properties have they valued in the past? The more experience service has, the better equipped they’ll be to provide an accurate property valuation. Lastly, you’ll want to compare rates between different services. Make sure to get a few quotes before making your final decision. Considering these factors, you can be sure to choose a property valuation service that is right for you. What factors influence the value of a property? Many factors can influence the value of a property. Some of these factors are within the property owner’s control, such as the condition of the property and the type of improvements made to it. Other factors, such as the location of the property and the local market conditions, are out of the property owner’s control. It is important to remember that a property valuation certificate ultimately determines the value of a property. So, even if a property is located in a desirable area and is in excellent condition, it may not be worth as much as another property if there is not as much demand for it. Let’s have a look at these factors in detail: The condition of the property. A well-maintained property will typically be worth more than one that needs repair.The size of the property. Larger properties will typically be worth more than smaller ones.The age of the property. Older properties will typically be worth more than newer ones.The zoning of the property. Properties zoned for commercial use will typically be worth more than those zoned for residential use.The income potential of the property. Properties that have the potential to generate a higher income will typically be of high worth and vice versa. Conclusion In conclusion, if you are considering buying or selling a property in Dubai, getting a professional valuation service is well worth your time and money. A property valuation will give you an accurate estimate of your property’s worth and any potential associated risks or problems. This will play an important role in the negotiation process. It can also help you avoid overpaying or selling your property for less than it is worth. With the help of a property valuation service, you can ensure that you get the best possible deal on your next property transaction.  So, if you are considering getting a property valuation service in Dubai, we are a team of qualified and experienced professionals. We understand the importance of getting an accurate valuation for your property, and we are dedicated to providing our clients with the best possible service. We offer a free consultation so that you can discuss your specific needs with us, and we will give you a detailed quote outlining our fees and services. Contact us today to learn more about why you should choose us for your property valuation needs.

The first thing that comes into mind when someone mentions Dubai is the riches, the glamour, and the glitz. Dubai is a prime example of development at its best. The city of deserts has shifted into giant skyscrapers and shopping malls. And one of the top attractions and the world’s most significant building, The Burj Khalifa, is in this city. It is a no-brainer why people prefer having a lucrative career in this city. Due to many employee advantages and revenue proposals, it is an option that is hard to say no to. However, when the discussion is about Commercial And Business Insurance, you need to understand that it is that kind of insurance that provides you with the required solutions for the industrial sector. Be it logistics, telecommunication, production, and textile, Commercial and business insurance in Dubai offers the much-needed safety net for business when it arrives. Now that you have the basic understanding of commercial business insurance, it is equally essential that you have the basic knowledge of many types of insurance out there to know and understand this insurance for a clear emphasis. The type of Commercial and business insurance depends on a multitude of aspects. That being said, here are some of the Commercial and business insurance that you need to know: 1. General Liability Insurance Okay! Let’s start with one of the most well-known business insurance, General Liability Insurance. So what is General Liability Insurance? General Liability Insurance is there to assist you in protecting or safeguarding your business or organization from any claims it has caused. For instance, it can be a physical injury of an employee or other members; General Liability Insurance is there for you. Or accidental damage of properties or belongings of any of your employees and co-workers, General Liability Insurance is there! It also comes into your assistance regarding times of a personal injury. General Liability Insurance is as essential as it can be in the business world. 2. Professional Liability Insurance Nobody in this world is perfect. Everyone has their flaws, and not a single person in this world can always be at the top of their work without making a single mistake. We are all human beings, and at some point in our lives, we do make a mistake. But a mistake is a mistake. And this is where professional liability insurance comes in to help you. In your business venture, there are times when you fail to deliver your promise to the utmost extent you can, or you slip and make a mistake with a service that you provide. Professional Liability insurance in Dubai helps you deal with those lawsuits regarding that. While many professionals are familiar with the term professional Liability Insurance, it is often regarded as Errors and Omissions Insurance, which, if you ask, makes total sense. 3. Commercial Property Insurance Is it one of those things that your fight with your landlord regarding the apartment you have been living in? Well, not really. This is a big misconception among the people outside when they first hear such a term. Let’s say there’s a building that you rented when you first moved into Dubai. And over time, you are growing as your business. What Commercial property insurance does is it protects or safeguards your rented building and the many of the pieces of equipment that you use daily as an integral part of your business. Please remember this insurance does not cover you from any natural disasters. If you wish to get such insurance, it is highly suggested you look for a separate policy to aid you in those worries. 4. Data Breach Insurance We live in a world of technology. And technology is constantly evolving. Unfortunately, so does the risk of data breaching. No business in this world currently does not depend on or revolve around technology. Due to the immense benefits it brings, it is no wonder why technology is an integral part of your business. But with that comes more risk. And data breach insurance is here for you. It assists you and your business when there is a data breach and personal or confidential information regarding your business has either been stolen or lost. Though it can’t be undone, Data breach insurance may help you let the impacted individuals know about the incident. It also takes the initiative to produce a public relations campaign. It is often also known as cyber coverage insurance. 5. Shopkeeper’s Insurance Now that you have understood the business insurance, let us go into Commercial insurance in Dubai. At the top of the list, there is shopkeeper insurance. If you own a small business or retail, you are most likely supposed to be familiar with many insurances covering different aspects. According to the policy phraseology, this insurance program covers shop structures and goods, home invasions, theft, cash coverage, bicycles, signages, luggage, personal injuries, and liability. 6. Liability Insurance In Dubai, there is not a single person in the sector who does not know the full extent of liability insurance. There are quite a few compelling liability insurances that offer so much. Each one is different from the next. You can do your research and have the best one on your side that you think will fit your requirements. This type of coverage is primarily designed to protect major multinational corporations from commercial liability concerns in a variety of locations throughout the world. It usually includes bodily harm, damage to infrastructure, potential litigation, clinical studies, product recalls, and workers’ insurance, among other things. 7. Employee Benefit Insurance Employees and workers are the strong pillars of a successful business. Happy and motivated employees lead up to better results. It is one of the most important mantras for successful businesses. And an employer benefit insurance guarantees you, happy employees. These plans, such as corporate medicare advantage plans or corporate accident insurance policies, will preferably offer health insurance coverage to firms’ workers. 8. Bankers Indemnity Insurance As you know, Dubai is an ever-evolving city. Gone are those days when the first thing that comes into mind while mentioning Dubai was the desert. The city is now the pinnacle of development. And with growth comes many different banks throughout the city. And banker’s indemnity insurance in the city is the perfect thing to complement these big banks. These plans are directed at banks and encompass all bank locations. The policies cover money or assets lost on facilities, transportation, fraud, deceit, hypothecated commodities, recorded postal losses, and appraisers. 9. Personnel Compensation Insurance Many in the sector are under the impression that they don’t need any worker compensation insurance as the work premises are so enhanced there won’t be any necessity. But the danger doesn’t come with a warning. No matter how safe your workplace is, you can never know when a disaster will happen. And thinking about buying your way out of it, everything it happens is a big NO. Workers ‘ compensation insurance is usually required for a corporation with more than one worker. When considering the cost of an employee’s compensation policy relative to the expected lawsuit price, it’s clear that being assertive with adequate coverage is the way to go. Out-of-pocket costs that are usually handled by an employees’ compensation policy – from lost earnings to healthcare – can result in significant losses for a corporation. Catastrophe or severe injuries may – and do – occur in even the most meticulous and healthiest work conditions. Therefore, it’s always best to be protected and ready for any eventuality, no matter how unlikely. 10. Erection of All Risk Insurance Machines and machinery are an integral part of any organization regardless of whether your corporation is technical or non-technical. And no machine is perfect, and not all installations are done right. Therefore, at the darkest times regarding technology, it is a must to have all-risk insurance. This policy provides you coverage regarding machinery and any installation or equipment damage that comes your way. It is highly recommended to have it at your disposal. It protects the contractor and the employer from physical harm on the premises. In addition to all these, this insurance policy also provides coverage to third parties. Conclusion Dubai is indeed the city of glamour and glitz. In addition to being your perfect gateway, this city has much more to offer regarding business and insurance. And the development of the city is a perfect example of it. Insurance in Dubai protects your business from various dangers that may arise during routine operations. Choosing the right commercial or company insurance can be difficult, but knowing what to look for can help. Give the article a read to explore more about the various kinds of insurance available in Dubai. Irrespective of the requirement, you will find the perfect insurance plan of your choice.

In this modern era of financial fluctuations, property is one of the fixed assets that come in handy. You can forget trading securities or other assets by just focusing on the property business. Now, there are two different types of properties: 1.    Residential property As the name indicates, residential property refers to zones or areas specified for living or dwelling purposes. It may also be a residential rental property where houses or buildings are rented to tenants for only living causes and not for business. 2.    Commercial property You must have commonly heard ‘Commercial property or commercial real estate.’ It refers to non-residential buildings and dwellings that provide property for income generation and earning profit. Despite the new wave of Online Commerce, many businesses and companies still rely on brick-and-mortar buildings to offer the best services to their consumer base. So, a website-browsing trend will never be able to eliminate the significance of having a commercial property. Did you know? In the US alone, the commercial real estate market was about $16 Trillion in 2018. Such is the potential scope of this market, and it doesn’t seem to be diminishing anytime soon. Types of Commercial Property For future reference, let’s explore what kind of real estate comes under the heading of Commercial property. 1. Office space Office space includes all the office buildings available for rent for commercial purposes. 2. Industrial space As the name indicates, it is the space used for industry, including heavy manufacturing, light assembly, and bulk warehouses, mixing industrial space with office space. 3. Multi-family properties Such residential rental properties with more than five apartment complexes are considered commercial property because they generate rental income for the owner. 4. Retail Any buildings used for retail purposes, ranging from single storefronts to strip malls and shopping centres, constitute the retail properties and come under the commercial real estate category. 5. Hotels Hotels are commercial real estate, whether large, small, or barely existing in terms of space and functionality. 6. Mixed-purpose properties Mixed-use properties are typically any combination of the above category properties. An example includes multi-family apartment complexes with retail spaces on the ground floor. 7. Mixed-purpose properties Any property that does not fit the above categories would be considered special-purpose, such as amusement parks, zoos, parking lots, etc. When there is talk of commercial properties, you will automatically find yourself delving into the topic of commercial property insurance. What is Commercial Property Insurance? Commercial property insurance can be defined as the premium you pay to cover a commercial property from multiple risks, including fire, theft, and natural disaster. Nowadays, most businesses, like manufacturers, retailers, service-based, and not-for-profit organizations, all carry commercial property insurance, giving massive financial protection for the long run. Generally, commercial property insurance gets bundled together with other forms of insurance, such as commercial general liability insurance. Commercial property insurance can be a significant expense for businesses that use expensive equipment, such as railroads and manufacturers. Still, the end benefits are more than enough to compensate for this expense. Here, commercial property owners enjoy the same protection as property insurance provides for their consumers. Businesses can usually put the cost of commercial property insurance premiums under the category of expenses. Regarding its downside, this insurance does not cover losses arising from tenants using the building, like if they cause some damage during their stay. There are some situations where even if the commercial property insurance doesn’t cover the cost of loss, such loss can still be added by endorsements. Like employee dishonesty, steam boiler breakdown, flood, earthquake, and crime. Not all of your business or commercial property is covered with a commercial property insurance policy. So, it would be best if you did not accept it at face value that everything gets added to the insurance package. For instance, you might need additional insurance for commercial autos, signs not attached to your building, and outdoor fences. Commercial property insurance is gaining popularity in the UAE, specifically the Dubai and Abu Dhabi areas, because of the blossoming new trend to own a commercial property. Factors determining the cost of a Commercial Property Insurance Numerous factors come into consideration while evaluating the cost of commercial property insurance. 1. Location The location of your commercial building matters. Suppose this building exists within a city with excellent fire protection nearby. In that case, it will typically cost less to insure than buildings outside a city or in areas with limited fire protection. 2. Construction Buildings made of potentially explosive materials will have higher premiums, like using wood partitions, floors, and stairways. In contrast, those made of fire-resistant materials could even merit a discount. Did you know? Your building’s fire rating gets easily influenced by various elements. Before remodelling, you should consult an insurance agent or company as additions to an existing structure might affect a fire rating, changing the insurance amount. Fire-resistant interior walls, floors, and doors can also play a significant part in maintaining a good fire rating. 3. Geography An insurance agent also gets accounted for the geography factor as your business may face environmental risks, such as flooding, tornadoes, etc. The Land value in a specific area can also affect what premiums you pay. For instance, Dubai and Abu Dhabi in the UAE are considered highly in demand because of their booming tourist, economic and home-buying sectors. The premiums charged here are expensive compared to other less-competitive regions. 4. Size of Business Premises A large factory building or commercial office will likely cost more to insure than a single rented room. 5. Safety and Security Many questions can arise about your commercial property’s security conditions. Like: Is your business or real estate located in a high-crime area?Does your company possess or dabble in toxic or hazardous materials?Do you have the latest security measures? All these queries can affect insurance rates. 6. Occupancy  A building’s occupants influence its fire rating. An office building will most probably rate better than a restaurant. A single hazardous occupant among the whole building occupants can negatively affect the fire rating of the entire building, causing the premiums to get higher. 7. Type of Equipment The nature of the equipment determines the insurance rate. Heavy industrial equipment like a machine in a giant steel mill will cost more to insure than an at-home business’s sewing machine. 8. Age of Equipment You may be forced to pay higher insurance premiums if your equipment is hard to repair because of scarce parts or if it is more likely to break down because of heavy use. 9. Types of Hazards Covered A commercial insurance policy covering all the open perils costs more than a policy covering named perils. Open perils coverage protects against all losses except those expressly excluded in the policy. Named perils coverage is the coverage that only protects against losses listed explicitly in the policy with their exact names. Similarly, an “All Risks” protection commercial Insurance in Dubai and Abu Dhabi area provides broader coverage for loss or damage from any causes except those expressly excluded under this insurance. Such insurance may include: Fire and LightningAircraft damageExplosion & Implosion Storm, Tempest, Flood, bursting and or overflowing of water tanks or sprinkler leakageEarthquake ShockBurglary, attempted theft (by violent and forcible entry to or exit from the premises), accidental, and many more Insurance Rate Determination Although multiple factors determine how much a company should pay for commercial property insurance, the value of a business’s assets is a primary factor. A company or a commercial property owner should take an inventory of their physical assets located at their property. This information will help decide what level of coverage the business should get in a claim. Although this is a crucial insurance category, things can be more complex than they seem when practically calculated. It can be beneficial to consult a commercial property insurance agent or company for an in-depth analysis of your real estate and get the best insurance coverage at a reasonable price. Benefits of Having Commercial Property Insurance Some of the advantages to paying commercial property premiums are: 1.     Financial loss coverage This insurance highlights that any potential financial loss bore by a business or property gets covered, keeping the company floating well. 2.     Builds Credibility An insured business appears more credible than an uninsured business. Such insurance can reassure a company’s suppliers and customers that there is a possible way out for them if the business cannot honour its commitments. 3.     Strong Backup plan You get to protect your business in case of an unexpected or unpleasant surprise in the future. In Conclusion Commercial property insurance rate determination is the sum of many vital elements that should be wholly considered. The importance of having your commercial property insured cannot be denied in light of the tremendous benefits achieved. It particularly stands true for the Dubai and Abu Dhabi areas in the UAE with their highly competitive and evolving commercial real estate market.

Parking areas are an essential component of commercial buildings. Without a proper parking area, people will face difficulty entering the area. In the best-case scenario, they may choose to go elsewhere to shop where they find a better parking area. The UAE government has made some policies to overcome this issue. These policies ensure ‌commercial buildings provide adequate space for parking. What is a Retail Parking Ratio? The retail parking ratio is a mathematical figure with the help of which you can compare the commercial building size and the number of parking spaces it must have. For the commercial or retail buildings, you can also use several places for the parking area in the building. Sometimes, unique buildings have a minimum exit point. Therefore, parking design varies from building to building. What is the Standard Calculation for Parking Ratio? Let’s move on to the actual calculations for parking demand. There are several ways of doing this calculation. You can calculate the parking for a commercial building by dividing the total square feet of an area by one thousand square feet. The division by one thousand is essential because the final ratio that will come out after calculation will be the number of parking spaces in the commercial building per thousand square feet. In this way, you will get the correct ratio for commercial parking. Example For Parking Ratio To explain the parking ratio, you can understand it better through an example. Here you can take the commercial area of 40,000 square feet. To get the parking ratio, you need to divide it by 1000 square feet. The ultimate value you will get is 40.  Suppose you want the parking space for eighty cars. For illustration, divide it by 40. The last value that you will get will be 2. It will give you two parking spaces per every thousand square feet in the building. Methods for the Calculation of Parking Demand in Abu Dhabi In the United Arab Emirates, you can observe a keen transformation over the last few decades. The government has made changes for economic and social betterment. With the growth in these departments, ‌parking space has become a significant problem for residential and commercial areas. In Abu Dhabi, in 2009, the Department of Transport ran a land-use survey in 46 sectors to observe the parking problem. Once the department had completed the study, the report revealed that some areas have much higher parking demand. You can take this survey as the basis of calculation for the parking issue. This survey also helps to increase the parking supply for commercial buildings. Method 1. Parking Survey Data Parking survey data is one of the well-known methods used to calculate parking issues. This survey ran in the 46 sectors of Abu Dhabi to estimate the parking demand. This survey gives you data on parked vehicles at different times of the day. It shows the utilization of parking spaces available. Also, it reveals the actual demand for more parking spaces. Method 2. Land Use Based Parking Demand Calculations The Department of Transport (DoT) in Abu Dhabi uses this method to check land and estimate parking demand. The technique requires land-use input values: parking rates and land utilization. Explained Method For Parking Demand Calculation For the deep analysis of parking demand, there are a couple of factors to consider: D shows the demand for cars per dayR indicates the number of vehicles per parking spaceThe B1 is the area you need to construct, while B shows the site for the building you measured before. This area serves several activities. If this area is a commercial building, it will attract 10 people per day per employee. Similarly, if you are constructing a commercial building, you need to consider G’s growth factor regarding time. Growth factor G will measure the traffic rate per year in Abu Dhabi, where you are considering developing a building. For example, you are constructing a commercial building; you don’t have any other buildings around it yet. Suppose you estimate that adjacent buildings around you will be residential and your facility will be for commercial purposes. You are considering constructing it so that your establishment will‌ compensate for the parking demand of adjacent buildings. For that instance, you need to look at the growth rate of the population in the future. Also, estimate the present population and the number of homes with vehicle facilities in that area. After all the calculations and estimations, the calculation for parking demand will be CPD = D/R * B1/B * (1 + G) Years The number of years you will use in the formula will depict the time required to construct the building. For more accuracy in parking space management, you can use the software. The software will give you a clear idea of barrier placement for uniform queues in parking lots. The barrier should not split into the public area and adjacent roads near the parking lot. You need to make parking spaces for each type of car and different car sizes. Similarly, the formula should fulfil the parking requirement for each type of car to avoid the after-construction mess. Also, parking space means that each type of car has enough space to turn to each corner of the vehicle with zero difficulties. The Example Of Formula For Parking Demand Calculation Now let’s see the formula through an example. The formula for parking demand calculates the parking space number into the average time a car rests in the parking lot. If the parking space is full with four cars during peak time, you have 150 spaces for that instance. The parking supply you provide is for 600 cars in peak time. Similarly, if you estimate the parking time of each car, it will be around twenty minutes in the lot. For instance, if you take the traffic growth rate of Abu Dhabi to 2% in a year. It will give you an estimated traffic growth rate. In the same vein, if you want to calculate the traffic growth rate for the next twenty years of Abu Dhabi. The formula will be like (1 + 0.02 )^20 = 1.49 For the next twenty years, you can expect 350 cars during the peak hour into 1.5, which is the round figure of 1.49 from the above calculation The resulted calculation will be 350 * 1.5 = 525 cars. The demand-to-supply ratio is 525 / 600 cars in parking spaces available during peak time. The ratio is 0.8, which is adequate for the parking lot. The above-stated points are for a long-term integrated approach to the parking problems. Other Workable Solutions To Compensate The Parking Demand In Dubai And Abu Dhabi As a tourist hub, the growth and development are quick in the United Arab Emirates areas. Therefore, city developers need to take an alternative approach to the upcoming parking problem and provide long-term solutions. Meeting The Parking Demand People often ask the MAWAQIF to complete the parking demand, especially during peak hours in commercial centers. But according to MAWAQIF, increasing the parking supply will not resolve the issue completely. They have to observe the certain factors which will increase the parking demand in these locations. ●     Effective Use Of Existing Parkings Sometimes the parking shortage happens because of the lack of information about the right parking space in the commercial center in Abu Dhabi. MAWAQIF made it easy to display the direction of parking space areas through brochures and other sign elements. It will lessen the headache of motorists in finding the right space for parking. ●     Remote Parking Services This service effectively overcomes the parking shortage in commercial centers in Abu Dhabi. This service may involve the free transit zone and shuttle services, but it may not become as effective for residents and motorists as it may sound. ●     Semi-Automated Parking System A semi-automated parking system is another method to increase parking space in commercial buildings. It expands the existing parking garage. With its help, you can use other spaces other than ground spaces for parking. It can also resolve your parking space issue to a great extent. ●     Parking Regulations To control the parking problem around the commercial building, MAWAQIF considered the parking time for each vehicle in the commercial center. They define the time limit for each shopper as about two hours. It’s an effective approach to effective parking management. Conclusion The effective calculation of parking demand in retail buildings during construction will not only lessen the parking problem in the future. But it also saves a lot of time. The government of the United Arab Emirates is still working on effective parking management to meet the demand. They use several strategies to overcome this problem. Also, they enhance the utilization of ‌parking spaces near commercial buildings. Further, MAWAQIF and other management authorities are working together to find an efficient solution.

Determining the value of a property is a crucial aspect of the real estate industry. As such, it is vital that the process is put through rigorous regulation, with all valuers in Dubai needing to adhere to a strict set of codes and standards that ensure industry transparency and ensure that all of their work valuers provide is to the highest standards. The local government in the UAE has embedded international standards of best practice in this process by developing and continuously improving what is known as the ‘Emirates Book’. This document mandates the rules and regulations and the correct procedures that all valuers in Dubai must adhere to.  This ‘Emirates Book’ is based upon the International Valuation Standards (IVS). The leader in the industry is The International Valuations Standards Council (IVSC). The international community recognised this council as the global standard setter, responsible for developing guidelines for valuations to ensure quality assurance and to implement a high level of standardisation of valuations across the globe, strengthening the valuation profession.  The ‘Emirates Book’ has three distinct sections1. The general framework of real estate appraisalThis section presents the general bases for valuers who follow this book regarding objectivity, judgement, jurisdiction and acceptable exceptions to the International Valuation Standards. 2. The general standards for Emirates Book valuation standards These look into the standards of real estate appraisal tasks, including valuation contract terms, value determination bases, methods and valuation approaches, and preparing reports.  3. Other standards in the Emirates Book valuation standardsThis part of the book looks at other standards related to real estate, ownership and controlling interests. This section also discusses concepts related to local laws, such as freehold, leasehold, non-freehold and real estate development concepts. In addition, there is the Royal Institute of Chartered Surveyors (RICS) Valuation Global Standards, better known as the ‘Red Book’, which fully incorporates IVS. RICS awards professionals an accreditation to Chartered Surveyors after professional assessments. These chartered surveyors are qualified in their domain.  Through developing the Emirates Book, valuation experts in Dubai can have a clear set of instructions on how to provide the highest quality of valuation services that are in compliance with both local UAE law and the International Valuation Standards as laid out by IVSC. Creating a handbook that all valuers are mandated to follow ensures high accuracy, transparency, efficiency and professionalism, ensuring that all valuation-related services are of the highest quality.  What is more, not only do the individual valuers and surveyors need to be qualified, but the companies they work for also need to be certified by the Real Estate Regulatory Agency (RERA) in Dubai. In order for a company to be accredited, it will need to submit specific documentation and meet the specified criteria.  The individuals performing the valuations will also need to provide an accredited university degree, certificates of experience, among others, to register a valuations company. There will also be a check for any conflict of interest. As per Dubai law, an individual cannot work as a valuer and a broker at the same time, and companies that offer brokerage services cannot provide valuation services except through a separately licensed valuation company with separate staff.  It is very important that when choosing a valuation company, you choose one that is accredited by RERA and the Royal Institute of Chartered Surveyors (RICS). This will ensure that any valuation reports or advice you receive will not only be objective and trustworthy but will also guarantee that you will be able to use the report for cases such as securing a bank mortgage. RERA displays all companies certified to perform valuations on their website, which you can check here, where you will also find CRC listed. Once a company is certified, it would have to register its dedicated valuers with Taqyeem at the Land Department. Taqyeem will ensure that each valuer has the correct professional valuation experience and education. Before being legally allowed to conduct valuation services, all individuals must attend and pass an intensive course that familiarises future valuers in Dubai with the laws and ensures that they are well versed on best practices and regulations, including the standards set out in the Emirates Book.  These stringent measures will help guarantee that all their work will be of the highest quality. The course covers aspects relevant to the local market and international standards. This includes Valuation Standards, Valuers’ responsibilities, conflict of interest avoidance, ethics, reporting, and legal matters. Upon passing the course, the individual will be able to become a certified valuer who can legally conduct valuation services in Dubai.  As you can see, the Dubai government has worked diligently to ensure that all valuation practices within the Emirate are of the highest quality and standards. If you want to find out more information or require valuation services, contact us today to book a consultation with one of our highly qualified and experienced Chartered Surveyors.

A valuation is generally a relatively quick process and takes very little preparation on the homeowners part. With that being said, there are a few things that you should be doing prior to the valuers’ arrival. It’s important to remember this in order to properly prepare your home and to ensure the entire valuation is conducted smoothly, in a timely and efficient manner. Here, we have listed a few things that homeowners can do to ensure this is possible.  Ensure full access  In order to complete a full valuation, the valuer will need to have access to every room in the house. As such, it is the home-owners responsibility to ensure that each room is unlocked and the valuer can view every part of the house. This includes anything and everything that is a part of the property, such as outdoor areas, basements and/or any balconies the home has.If your property is being rented out, the tenants should be given prior notice and informed of the exact time and date the valuation will be taking place.  The tenant should also be briefed so that they can ensure the entire property is available for the valuer to view. You should also ensure that the valuer has access to any communal facilities or any shared spaces that comes with the property, including pool areas, gyms, parks, etc. Having this done in advance will speed up the process by ensuring access is possible as and when the valuer needs it. Provide necessary documentation Before your valuer comes to your home, you should have all the necessary documents prepared in advance. This includes any building plans, rates notices and any other documents relating to your property. You should also provide any ‘No Objection Certificates’ and/or any planning permissions that your property has for any future work that can be done on the property. The more paperwork you can provide, the more accurate the valuation can be.  This can help make the space seem more spacious and better present all the available space you have.  Ensure the property is tidy First impressions count. Whilst a good valuer will be able to look past a bit of clutter, however a thorough cleaning and tidy up will help show your property in the best possible light and will be easier to assess. Some key areas to keep in mind would be the bathrooms and kitchen area as these can add great value to your property. It would also be advised to do a full vacuum and sweep as well as taking out any rubbish you have. As a homeowner, you should never neglect your garden or other outdoor areas when it comes to valuations. This means you should mow your lawn and trim any overgrown weeds and shrubbery.  Lighting is also a key factor, as it can make a space feel a lot roomier. If you are not currently living on the property, try and ensure that electricity is connected. Otherwise, try to organise the valuation to be conducted during the day so there is plenty of natural light illuminating your home. This is especially important considering the valuer will need to take many photos of the property.  Highlight key features of the home It is important to highlight any changes or renovations that have been conducted on the property. The homeowner will be in charge to provide documentation to prove what and when these changes were made. This is even more important for changes that have been made that the valuer may not immediately notice or are not visually obvious. Some examples would be new air conditioning units, irrigation systems, or any structural changes/improvements that have been done. What’s more, the valuer should be informed of any other spaces that the property can use that are outside of the physical unit space. This will include any car parking spaces, as well as any communal amenities that property owners can use. This could include communal parks/green spaces, gyms, swimming pools, tennis courts or any other facilities.  Keep it COVID-19 friendly  Now more than ever, it is important to ensure proper hygiene protocols are put in place, with the homeowner preparing for the visit. Whilst the valuer themselves will take necessary precautions, such as wearing a mask and using hand sanitiser, it is the homeowners’ responsibility to ensure the safety of themselves and the valuer. The property should be sanitised with anti-bacterial spray. You should also keep all doors open, providing a clear pathway for the valuer, with them not needing to touch any doors or door knobs unnecessarily. Further to this, if the property has multiple occupants, they should either be advised to vacate the house whilst the valuer conducts the work, or they should remain in one room, minimising any potential contact the valuer will have with other people.  Set an allocated time-frame The homeowner should set aside an allocated time for the valuer to have complete uninterrupted access to the property. An apartment valuation will typically take 5 to 15 minutes, whilst a villa valuation will generally take anything from 10 to 30 minutes. Ideally, the home should either be empty or otherwise, all occupants should remain in one room, as well as be advised not to interrupt the valuer whilst they are conducting their work. This will make the process a lot more efficient and will allow the full valuation to be completed smoothly in a timely manner. For the inspection of any communal areas, management and/or the necessary individuals should be notified in advance so that the valuer is expected and allowed to conduct their work thoroughly.  At CRC, we have a team of highly experienced, RICS certified valuers, who are held to the highest professional standards. We will be able to give you a full brief on everything that is required in order for you to get the best service possible. Regardless of your home or property type, we will be able to conduct a full and thorough valuation and produce a comprehensive report in an efficient and timely manner. If you require valuation services, book a consultation with us today. 

Whether you want to invest in commercial office space, retail, warehouse, or another type of commercial property, the first step is to understand factors affecting commercial property value. All investors want to know is how to get better returns for their money and the factors that will affect the value of their investment going forward. There are many factors that come into play, ranging from location to transport links, local amenities, and property characteristics. We have broken down some of the crucial elements that can impact the commercial property value.Location One of the critical factors affecting commercial property value is the location, including the transport links in the surrounding area. Infrastructural development within the surrounding area is one of the most important factors which influence real estate valuation. The average price per square foot in Business Bay is AED 589, which is higher than the average price per square foot in Barsha Heights, which is AED 579. The presence of transport links and other facilities in the vicinity of the property helps increase the property value, and as such the valuation of properties with better infrastructure capabilities and modern amenities are generally higher than those which fail to provide it. Access to transport is another crucial aspect that can affect the value of your property considerably. The more modes of transportation that your unit is connected to, the higher the value will be. The more popular and accessible your property is, the more valuable it will be. Take, for example, an office space in a key business location such as Business Bay. The area is well connected to Dubai’s key arterial roads, has access to the Dubai Metro, and has many bus stops within the district. This will have a higher value than an office in a remote area with very few amenities. Depending on the preferences of your employees, some amenities will more important than others. Supermarkets, restaurants, cafes, and other retail establishments in close proximity to your unit will help increase its value. Other facilities such as clinics or hospitals can also affect the value of the property. Further to this, the plot type that the unit is built on will also affect the property value. Buildings that are constructed on freehold land tend to command a higher valuation than those on leasehold plots.Property characteristics Generally speaking, the larger the property the more valuable it will be, with larger spaces commanding higher prices. With that being said, whilst your unit may cover a large amount of square footage, this is only useful if the space is actually usable. A good way to optimise your property’s value is to ensure that all available space is utilised. This might mean changing the configuration of your unit and opening up areas so there is more room and space for the end-user to conduct business. The type of buyer for your property can help determine the value of your property. You should consider who your property will be best suited for and if there is a high demand from these users. As such, where possible, you should optimise your unit so it is best suited for the type of end-user you are trying to attract. Commercial property that doesn’t have the functionality to meet current market demand, will have the potential to be unable to satisfy potential end users and therefore be less valuable. If your unit is designed to be used as an office, then as the owner, you should ensure that the space can function as an office space. Property condition The quality of the building also plays an important part. A brand new, modern building, will generally be valued higher than a run down unit that has not been kept up well. Pay attention to building ratings, and how your asset compares to other similar properties in the area. This follows on to make sure that your property is well maintained. The asset should not just be visually appealing but should have a well-maintained interior and exterior. Those first impressions can be critical even when it comes to securing a viewing. Minor improvements such as painting and deep cleaning can be very effective with small capital expenditures.Any upgrades to your unit would be welcomed by potential buyers, especially if they improve the property’s potential to make a higher profit. What’s more, there is an increasing number of companies that are making it a goal to be more environmentally sustainable. As such, making environmentally concise improvements can increase the value of the property by reducing operational costs. This could be as simple as insulating the property and switching to efficient light bulbs. If you are looking to attract large companies, more of them will have corporate social responsibilities and will only occupy energy approved assets. With that being said, whilst making improvements can make your property more attractive and drive the price up, cost does not necessarily equal value, so plan carefully what and how much you spend on improving the unit. Smaller improvements such as a fresh lick of paint, fixing any minor repairs, doing a professional clean, including carpets, will all make your property more attractive to potential buyers and do not cost a lot of money. However, first impressions do count, so both the interior and exterior of your property should be well maintained.Paperwork and approvalsAnother major factor that can affect the value of a property, is whether you have all the necessary paperwork. Do you have your licenses in place? Have you got all your approvals? What’s more, a property that has planning permission to extend or make any significant changes will also improve the value as it will enable greater opportunities for the unit. Whilst these are all factors that can affect the value of your property, it is worth noting aspects of your unit that will not be included in a valuation. Generally speaking, a valuation will include all non-moveable assets within the property, such as the size, layout, specification, condition, and views. A valuation will therefore exclude furniture, plants, machinery and any equipment within the unit. As you can see, there are many factors that come into play when determining the value of a commercial property. If you require a thorough and comprehensive valuation report, contact us today to book a consultation with one of our valuation experts.