Commercial Sales

The Dubai Real Estate Market continues to soar The commercial property market right now is the strongest it’s been since 2016, with office, warehouse and retail units in high demand for both sales and leasing according to our recently released commercial property market report for Q1 2022.DOWNLOAD THE REPORT HEREAs Dubai opened back up to the world and the majority of restrictions were lifted, the trust in the commercial property market recuperated, resulting in increased demand for properties for sale. New policies issued by the government at the beginning of 2022, such as modifying the working week to Monday – Friday to align with the rest of the world, have made Dubai even more attractive to investors looking to grow or expand the business.Overall, it can be expected that the commercial property market will continue on an upward trajectory, supporting growth in Dubai’s property market and the economy as a whole. Here are the headline statistics from the report:Commercial SalesQ1 2022 has followed on from the trends we saw in 2021, with prices, demand and transactions continuing to rise. The commercial property market has experienced a 107% increase in sales value for Q1 2022 compared to Q1 2021. The Dubai property market had a total sales value of nearly AED 56 billion in the first quarter of 2022, according to DXB Interact, a record breaking quarter compared to previous years. At CRC, our invoiced transactions rose 62% in Q1 2022 over Q1 2021. Office and retail sales remain at the forefront of the growth, with offices experiencing a 31% increase and retail a 104% increase for units sold over Q1 2021. The total sales value also continues to rise, as offices have seen a 71% increase and retail units a 49% increase over Q1 2021.Increasing demand combined with the limited supply of Grade A commercial spaces is an ongoing trend visible through the first quarter of 2022. As businesses have successfully rebuilt after suffering from the impact of the pandemic, the objective is now to expand, the need for larger office spaces is rising, and as the occupancy of these spaces increases, so does the shortage in stock.Commercial LeasingThe commercial property leasing sector has maintained steady growth in the first quarter of 2022. The multitude of new businesses opening their doors across Dubai has increased rental prices throughout all sectors, creating greater demand for those seeking new premises for their growing businesses.According to CRC data, the number of leasing transactions is up 7% for Q1 2022 vs Q1 2021, with the highest increase in the warehouse sector, which is 88%.  The overall number of registered tenant leads for CRC increased by 32% compared to the same period last year. In line with the spike in demand, the highest increase came in at 128% for warehouses.This quarter, we’ve witnessed a continuous demand for commercial property, as businesses that downsized during the pandemic started getting back to bigger office spaces. As well as retail and warehouse businesses benefitting from a surge in demand due to a boost in the economy.While prices rise and the demand grows, tenants who would previously shop around year on year, in order to secure high-quality units at the lowest price, are opting to lock down long term leases at lower rental values instead.Seemingly, the trust in the market has bounced back in the first quarter of 2022, with CRC recording a 17% increase in payments with 4 cheques and 1 cheque payments decreasing by 7%.

The plans for EXPO 2020 after March 31 have been announced and it looks like the site is set to become a new urban development. District 2020 has officially been named as the project set to replace EXPO 2020. District 2020 will focus on “curating a global innovation ecosystem and an integrated community lifestyle,” according to Expo organizers. They have billed the site as “a model global community for the future that will use state-of-the-art innovation, science and sustainability to create a cleaner, safer, healthier environment to live and work.” 80% of EXPO 2020 will be repurposed for the new development as it diverts into a smart and sustainable mixed-use community. District 2020 has already gained the nickname ‘15 minute city’ as plans for the site show that housing, work spaces, retail, restaurant and attractions will never be further than a 15 minute walk away from one another.   District 2020 aims to cater to a population of 145,000 at full capacity. How does this affect real estate? Well, despite the fact this will create both residential and commercial real estate opportunities, it is also set to be yet another attraction for this bustling city.  This new development will provide more working opportunities for those who are already or considering living and working in Dubai, as well as an increase in tourists travelling to visit the new smart city.  So, what else can we expect to affect the real estate industry post EXPO 2020? RAPID COMMERCIAL EXPANSION  In terms of commercial real estate, there has already been a huge injection of stock into the market, with the development of new shopping centres, hotels and over 400 restaurants, both in and around the Expo 2020 site. As such, it has opened the doors to hundreds of new businesses and investors in the city. With these new businesses expected to expand around Dubai, they will need to find commercial spaces in which to operate. THE SURGE IN DEMAND FOR RESIDENTIAL INVESTMENTS Investing in Dubai has become increasingly attractive over the past few years due to the thawing of diplomatic relations with several countries, including Israel and Qatar; government incentives, including the introduction of new visas; the reduction of ‘Loan-to-value’ for first time buyers; as well as the relaxation of many of the country’s more conservative, cultural laws. Not only has this promoted investment into the country but has also made the city an attractive place to live. It should also be pointed out that as businesses expand into Dubai, families will come with them, necessitating new housing developments.  These new investors have had, and are expected to continue having a primary focus on high-end luxury properties, with properties worth over $10 million accounting for over 7% of all real estate transactions.  This interest in high value, luxury properties was witnessed in 2021 by Betterhomes, the sister company of CRC, whose agent Hannah Pratap, secured the biggest leasing deal in the history of Dubai.  POSITIVE IMPACT EXPO 2020 has brought a huge number of people to Dubai and in turn, introduced them to its upscale lifestyle, safe environment and the possibility for impressive career growth. Although it was already one of the most popular places to relocate, the past year has seen more people than ever want to make the move to this bustling city and there’s no question as to why.  Expo 2020 Dubai welcomed more than 10 million visitors in the first 3 months and both the educational and entertainment aspect of the event will have inspired many residents, expats and investors to explore new avenues of both life and business.  There’s no doubt that the new development, District 2020, will continue to inspire growth across the city.  So, what will happen next? Will the real estate in Dubai witness a boom after EXPO 2020? Well, in a nutshell, Expo 2020 was just the beginning of Dubai’s new future. This global event was expected to kickstart business development and encourage foreign investment into the country, and I’m sure we will document the positive effects of that as Dubai’s economy continues to thrive through 2022 and beyond. If you require any assistance on leasing, selling or buying commercial property, get in touch with us today. 

Starting a business in the UAE is fairly easy, making it one of the most desired cities for entrepreneurs and investors interested in a startup. The local government encourages both investment and startups in many ways, and in the past year has even rolled out long-term visas for investment. However, like anything there are both advantages and disadvantages to take into consideration and it’s important to do thorough research and seek professional advice with big financial decisions. In this blog, we have listed some of the pros and cons to consider when opening a start up in Dubai.  Pros Multiple set up options In the UAE, there are 3 options for business set up, these include, mainland, offshore or freezone. Each option holds its own features and benefits and it is important to fully understand each, in order to make the right decision for you and your business. Depending on your type of business will determine the option that best suits. For example, a mainland company structure will offer you the freedom to operate your business in any part of the emirate. Whereas, a freezone will allow you to benefit from a tax free environment and 100% ownership of your business. Whatever the case may be, you will be sure to find an option that fits both your needs and requirements.  Growing economy It’s no secret that Dubai is host to a very healthy economy and provides opportunities for both businesses and individuals to thrive, grow and develop. Not only Dubai, but the UAE as a whole offers both comprehensive and transparent business procedures as well as a stable political situation and an abundance of resources. Which makes this an ideal location for operating a business.  Diverse industries  The opportunity to develop a successful company here is available through many different industries. Whether its manufacturing, hospitality, retail or services, with the right business structure your company has the potential to thrive. Cons Trade limitations Although there are many benefits that come with setting up a business in a freezone, if you choose this option you will experience trade limitations, meaning that you will be restricted to performing all business operations within the confines of your free zone only. Although, depending on your type of business, it is possible to obtain an agreement with a distributor in order to operate in mainland areas.  Confusing set-up procedures If you are unfamiliar with the UAE’s laws and procedures, setting up a business may feel like a difficult and confusing task. There are multiple consulting companies that can assist you to ensure your business set up is a quick and easy process, we would recommend enlisting the help of one of these companies, if you are new to Dubai and the world of business. Do you already own a business in Dubai and are looking for Commercial space to rent or buy? Get in touch with one of our agents today. 

Organised under the theme “Connecting Minds, Creating the Future” EXPO 2020 Dubai is the world’s largest gathering to date. Originally scheduled for October 2020, the event was postponed 1 year due to the coronavirus pandemic and eventually opened to the public in October 2021 and is due to run until March 2022.  Over 190 countries have participated in EXPO 2020 and the event is believed to have already led to the birth of multiple cross-country business partnerships. Dubai’s economy is on the rise and the opportunities available to business owners and investors are growing rapidly.  If you are a business owner or entrepreneur that holds a dream of setting up a business in Dubai, then this is the guide for you. Read below to find out what we think will be the top business opportunities at EXPO 2020 and the industries to consider. Tourism According to the Khaleej Times, Dubai recorded 6 million visitors in the first 11 months of 2021, surpassing the whole of 2020. Already one of the most influential business domains in the UAE, the travel and tourism industry growth is set to continue through to 2022, amid the final months of EXPO 2020. There are multiple reasons to go ahead with this industry, so if you hold an idea of starting a business in Dubai, now is the time to go for it.  Hospitality As tourism rises, so will the need for hospitality services. 2020 saw numbers drop to an all time low for the hospitality industry, but as Dubai economy continues to rebuild, the hospitality market has almost made a full recovery.  As travel restrictions continue to ease, demand due to EXPO 2020 continues to increase and vaccination programmes continue to expand, the growing need for hospitality businesses is on the up. If you’ve been considering setting up in the industry for a while, now is a better time than ever.   Food and beverage Another industry that will see positive impacts directly related to both tourism and hospitality is the food and beverage industry. In regards to the F&B market, there’s a new kid on the block almost everyday in Dubai and it’s a trend anticipated to continue far into the future. Plus EXPO 2020 has provided a space for visitors to eat their way around the world, without having to leave the UAE. It would come as no surprise if some of the restaurants, food trucks and pop-ups from EXPO 2020 secured more permanent homes across the city.  If you’re an Investor looking to own a slice of this industry, we don’t think you will need to look far to find an ideal opportunity.  SMEs (Small and medium-sized enterprises) Small and medium sized enterprises can take full advantage of EXPO 2020 and the opportunities that come with it. Its an international hub for like minded entrepreneurs across the globe to come together and build strategies to enhance their brand and seek a competitive edge.  There’s an opportunity to build relationships with potential investors, clients and customers in order for SMEs to build on success and take their businesses to the next level.  If you hold the idea of starting an SME in the UAE, then take the incorporation steps now. Real Estate As mentioned above, Dubai Expo 2020 is well on its way to increasing a number of business entities in various industries, indirectly uplifting the real estate sector. Dubai is facing a boom in both commercial and residential real estate markets, with the industry seeing increased demand in units, space and prices.   Dubai properties are in demand from those worldwide, which turns out to be an excellent opportunity for investors who are interested in coming forward and setting up or getting involved with a real estate business in Dubai. Construction  The networking and partnerships anticipated to take place at EXPO 2020 are expected to introduce new demand for both commercial and residential complexes. Construction businesses will have a wider range of opportunities to get involved in both during and post EXPO 2020.  The industry is already rumored to contribute billions to Dubai’s economy and landscape, so if you are interested in securing your next business venture, now would be a great time to come forward and indulge in the opportunities on offer. You will need to possess a construction license issued by the Department of Economic Development (DED) in order to start a construction business in Dubai. Overall, Dubai’s economy is finally starting to rebuild after the devastating impact of the pandemic, and with the help of EXPO 2020 we’ve seen a major boost in demand for multiple industries. With no sign of slowing down, its an ideal time for business owners and investors looking to own a slice of Dubai, to come forward and benefit from the ever-growing opportunities the city has to offer. Its important to bare in mind that there can be specific procedures to follow when starting up a business in a foreign country. To ensure a smooth and successful process, we would advise you to seek the help of a business consultant to assist you in the initial stages.  If you are interested in visiting EXPO 2020, the event will be running until March 2022 and you can buy tickets here.

When starting a business, you want to make sure you set up in a prime location that will help your business thrive, and as such you may be wondering what the top 5 areas to set up a business in Abu Dhabi are. With Abu Dhabi being such a large city, it can sometimes be challenging to decide where to base your company.  In truth, one of the key factors that should determine your business location would be related to the kind of activity you will be participating in. Other deciding factors include who and how many staff you will need, as well as your price point.  Abu Dhabi has gained a reputation for being an attractive location for investors and business owners. This is especially the case since the government has implemented many schemes in order to ensure a thriving business environment. That withstanding while the city is an excellent place to conduct business, company owners should know where the best sites to set up and operate are. We have compiled a list of the top 5 areas in Abu Dhabi depending on the business type.  Abu Dhabi Airport Free ZoneTop area for logistics & import/export Abu Dhabi Airport Free Zone focuses on businesses conducting either logistics, import/export or otherwise other industries that need to be in close proximity to one of the country’s largest international airports. The area contains a large number of warehouse and office options for companies and businesses of all sizes.  The area was established as part of the Emirate’s 2030 vision to become a dynamic and well-established economy. Although predominantly focused on logistics and import/export, the free zone also has other key sectors that it aims to promote. This includes sectors such as Aviation, Defense, Airport services, Cargo, Freight, Pharmaceuticals, Consultancy management, and even Marketing & Events.  Abu Dhabi Corniche & Hamdan Street Top area for a central location A popular place to live and work, Abu Dhabi Corniche is one of the busiest commercial areas in Abu Dhabi. It is a key business and cultural hub of the city and is primarily centred around the 8km Corniche Road. There are many lovely restaurants and cafes and a wide range of amenities, including gyms, malls, and supermarkets.  Its strategic location means it’s in close proximity to other key business areas throughout the city. This includes Al Markaziyah West, one of the busiest commercial streets and Al Khalidiyah, the city’s cultural hub. Many of the offices within this area feature beautiful sea views or overlook luscious green parks. . In addition to this, with so many office buildings in the area, makes the prices are highly competitive. Hamdan Street is one of the busiest commercial areas of Abu Dhabi. Strategically located in Abu Dhabi’s centre, it is one of the oldest and most established areas of the city. Running parallel to the Corniche, Hamdan Street is close to many of Abu Dhabi’s residential areas and Marina Mall, World Trade Centre Mall, Qasr al-Hosn, the key retail, business, and cultural hubs of the city. Known for its retail hubs and commercial buildings, Hamdan Street has proven to be popular for business owners to base their companies on.  Twofour 54Top area for media companies Twofour 54 is another free zone in Abu Dhabi that aims to provide both a local and international hub for media companies. It aims to be at the forefront of the regions media industry, creating all types of media, including Events, Film, Digital Media, Publishing, Music, Broadcast, Gaming and all other media types. Already, the area has established itself as a prominent player, with major international companies such as Thomson Reuters Foundation, CNN, Financial Times, and the BBC setting up their operations in the free zone.  Like other free zones, there are numerous benefits. Those that set up their operations here have 100% ownership of their company, can enjoy tax-free incomes, as well as take advantage of the numerous incentives the free zone authority has set up. FOr example, international TV and film production can benefit from a 30% cash allowance. There is also comprehensive training facilities available for those in the free zone.  Elektra street Top area for electronics companies Electra Street is known as an area of the city that never sleeps. Whilst one of the oldest places in Abu Dhabi, it has made a name for itself for being home to a large and thriving electronics market. It sits at the heart of the city with great accessibility to facilities, including shops, supermarkets and plenty of other amenities that your business and employees will appreciate.  Whilst a thriving area for businesses involved with electronics, it is worth noting that it is not a free zone area. As such, there are certain restrictions regarding business ownership. Because of this, unlike Freezone areas, businesses are unable to have 100% ownership unless the owner is Emirati.  Masdar City Top area for companies promoting sustainability Masdar City is a global hub for companies that specialise in sustainability, specifically sustainable energy. This includes companies that focus on either generating, discovering, manufacturing, and developing energy products and future green technology. Whilst a free zone, the area distinguishes itself by becoming a‘Green’’ city that relies solely on renewable energy.  Masdar established itself as a beautiful yet sustainable living and working business area. Companies set up here can benefit from world-class facilities and state-of-the-art infrastructure for tech companies and partner with institutions to develop their research.  So which are the top 5 areas to set up a business in Abu Dhabi? As you can see, there are many areas in Abu Dhabi for businesses to establish themselves. Our list just has our picks for the top 5 areas to set up a business in Abu Dhabi. There are many other areas within the city that can be great for businesses. For more information, contact us today to book a consultation with one of our commercial property specialists.

You might have been looking for a commercial property, and wondered, ‘What does GBA mean in commercial real estate? In the property market, particularly in regards to commercial real estate, there are many different ways of calculating the area of a property or building. As such, it is important to understand the differences between them, so when you look for your next commercial property, you will be able to understand exactly what you are paying for. We have gone through and explained some of the key terms used when calculating the area of a commercial property. What does GBA (Gross Building Area) mean?  GBA, or Gross Building Area, is a unit of measurement unit used in commercial property valuations. This measurement differs from the measurement type of residential real estate, which predominantly uses GLA or Gross Living Area.   GBA includes the total enclosed area of a building and the sum total of all floors. This is determined by the slab area measured to the exterior surface of the exterior walls, excluding elevator shaft openings. What is GLA (Gross Living Area)?  Gross Living Area has been defined by the Dictionary of Real Estate Appraisal, as the “Total area of finished, above-grade residential space; calculated by measuring the outside perimeter of the structure and includes only finished, habitable, above-grade living space. Finished basements and attic areas are not generally included in the gross living area.”, or put simply, the habitable area of the property, including both heated and cooled areas.  GLA will also tend to include common areas and areas that the tenant can use but do not necessarily occupy. This can include areas such as elevator space, common bathrooms, stairwells and other shared spaces. It usually includes certain common areas, elevators, common bathrooms, stairwells, and other portions of the building that the tenants do not occupy, but can use. What is the difference between GBA and GLA? The reason why commercial property uses a different unit of measurement is that areas of the property that are not heated or cooled may still be usable aspects of the property. Therefore GBA takes into account the total or gross building area. A GBA evaluation will generally not include below-ground space as part of their square footage equation but will include the space in their appraisal valuation What is NLA/NRA (Net Leasable Area/Net Rentable Area)? Another term that may be used is NLA/NRA, which stands for Net Leasable Area/Net Rentable Area. This is used to measure the total area of floor space that may be rented out to a tenant. This differs from GBA, as it will generally exclude common areas, such as a shared pantry, or shared washrooms, or reception areas, as well as excluding areas dedicated to the heating and/or cooling of the building, as well as the building’s utility areas.   Tenants and property owners should also be aware of the term BUA or Built-Up Area. This is the sum of all usable areas, circulation areas, service areas, balconies, plus the area of all factored non and semi-enclosed areas.  How to calculate GBA?  GBA is calculated by measuring to the outside finished surface of the permanent outer building walls, without any deductions for features such as stairwells, or walkways, common areas and shared spaces, alongside unusable or non-leasable areas. This type of calculation is generally done for larger commercial spaces with a high number of square footage. So, to answer the question, ‘What does GBA mean in commercial real estate?’, simply put, it is just one of many units of measurement for commercial property.  Navigating the commercial property market can be a complex process, especially when there are so many different terms and industry-specific vocabulary. It is therefore important to work with a trusted real estate professional that specialises in commercial property. A specialised commercial property consultant will be able to talk you through all the terms you need to know and help you through the entire process. 

When looking for a commercial property, you might come across some terms that might seem unfamiliar. One of these terms is ‘NNN’. NNN stands for Triple Net Lease and is one of the most popular types of leasing agreements, which is generally an alternative to a gross lease.  So what is a Triple Net Lease?  A triple net lease is a type of lease agreement in which the tenant pays all the property expenses. This would include all real estate taxes, building insurance, maintenance, utility bills, as well as the cost of the rent. Due to the fact that the onus is on the tenant to pay for everything, the actual rent for a triple net lease is typically less expensive.  A triple net lease differs from a standard lease in that it is generally the landlords’ responsibility to pay for at least some of these expenses. Aside from triple net leases, there are also double net and single net leases.  In a single net lease, the landlord takes on more responsibility, with the tenant still taking on some of the additional costs. With a single net lease, the tenant will generally be responsible for the property taxes, whilst the landlord will take ownership of any other costs.  Due to the tenant bearing some of the additional costs, the rents will tend to be lower than a gross net lease but slightly more than a triple net lease.  A double net lease will tend to mean the tenant paying for the property taxes and property insurance, with the landlord paying the maintenance costs. Again, these lease types will be lower than the gross net and single net leases. This type of leasing agreement tends to be more popular in larger commercial developments where one landlord will have multiple tenants who may have different square footage. As such, it is easier for the owner to assign taxes and insurances proportional to the amount that is leased. Why choose a triple net lease agreement?  Triple net lease agreements have become increasingly popular with investors who are looking to secure a steady income stream at low risk. By not including the additional fees that are generally part of a start of a standard lease agreement, investors avoid any unexpected or additional costs during the tenancy agreement. The landlord will therefore get a fixed income and will not have to shell out on any expenses due to the liability being on the tenant.  A triple net lease can also have benefits for the tenant. As all the costs associated with leasing the space falls onto the tenant, it means they can have good negotiating power in terms of the base rent. Providing they are willing to take the risk of paying for any future maintenance costs, or any other unexpected expenses, the tenant may end up securing a property at a much more reasonable price. Is the landlord responsible for any costs in a NNN lease?  Whilst the tenant is responsible for most of the costs associated with the property, there are generally a few exceptions. Structural damage, i.e. damage to the roof, or other significant expenditures, are typically covered by the landlord. With that being said, it would be recommended to clarify and discuss with the landlord a price point at which they should pay any costs. So how is NNN cost calculated?  The advertised cost may be advertised as AED 14 per square foot. This is the base rent, but then the landlord will add up all the other associated costs, including the insurance and any other property costs which the tenant will have to pay in addition. It will then be up to the tenant to pay for any additional maintenance costs that would be required throughout the duration of the contract.  How is NNN lease different from a gross lease agreement? Gross lease is the second most popular type of tenancy agreement. The gross lease or full-service lease will tend to include all costs associated with the property, including tax, property fees, insurance, any maintenance fees and in some cases also utility bills. As such, the tenant will only have to pay one upfront price that is typically more expensive than an NNN rent, which the landlord will use to pay the additional costs themselves. One of the key differences between an NNN lease and a gross lease is that the tenant has much higher responsibility for the space that they are using, and have to bear the risk of undertaking any maintenance issues, and the associated expenses that come with it.  As such, gross leases allow tenants to have much greater control over their finances and budgeting, with there being a constant fixed amount that will not change throughout the entire duration of the contract. As one can see, there are different benefits of these different lease types. With that being said, the most important thing a tenant can do is have a thorough discussion with their potential landlord and carefully look at their leasing contract to see what exactly is included in the contract and what each party is expected to pay.  What’s more, tenants should choose an experienced commercial estate agency that will be able to help broker these deals and get the best deal for both sides of the deal. If you are looking to rent a commercial property, book a consultation with one of our many expert commercial property consultants. 

Did you know that over one-third of our lives will be spent at work? That is why it is so important to have a space that is productive and we enjoy working in. As a thriving business hub, Dubai is home to some fantastic offices, with stunning views. There is nothing better than looking up from your desk and seeing gorgeous, inspiring views. Here are some of our top picks for offices in Dubai with the best views.  Burj Khalifa, Downtown Dubai  For sale: AED 45,000,000 Situated on a high floor of one of the world’s most iconic buildings, in the heart of downtown Dubai, this office space enjoys 360 degree panoramic views of all of Dubai. Take in the modern skyline of Business Bay, the impressive man-made wonders of The Palm Jumeirah and the World Islands, as well as the rest of the city and beyond.  As a shell and core office, the new owners of this building will be able to style this space any way they wish, creating a unique, bespoke work space just for them.  The area of Downtown Dubai, is a mix of high end commercial and residential spaces, that is in close proximity to several of the city’s key business districts, as well as the world’s largest shopping mall.   Jumeirah Business Centre 4, Jumeirah Lakes Towers For Sale: AED 4,554,500 This modern office space has impressive views that look onto the peaceful greenery and calming lakes of Jumeirah Lakes Towers. The area features luscious parks and running tracks next to the three lakes within the district. From the other side of the building, you can look out onto the modern skyline of Dubai Marina, which offers a bustling social scene.  This contemporary office comes fully fitted and furnished with a modern, high-end aesthetic, with large executive offices and large meeting areas, perfect for setting a good impression for any potential clients that will pay a visit.  JLT is a highly sought after mixed used to community, that is home to both residential and commercial units. The area is a project of Dubai Multi Commodities Center, on eof Dubai’s biggest free-zone areas. What’s more, it is in close proximity to some of the city’s key hot spots, including Dubai Marina and Jebal Ali Free Zone. The fact it is adjacent to Sheikh Zayed Road means that it has easy access to the rest of the city.  Jumierah Bay X3, Jumeirah Lakes Towers For Sale: AED 4,175,650 This beautiful office in JLT, faces the iconic marina skyline, with Jumeirah Bay X3 being specifically designed from the ground to maximize the panoramic view of its stunning surroundings, delivering on both and delivers both luxury and convenience. As a full floor unit, occupants can enjoy full 360 panoramic views of the city.  It is not hard to picture yourself in this one of a kind meeting room, expanding your business horizons.  The floor comes fully fitted and furnished to a high spec, as well as being conveniently located close to many of the amenities the area has to offer, including restaurants, retail areas, as well as being close to several of Dubai’s key transport links, including the metro and Sheikh Zayed Road. The unit also makes an excellent investment opportunity, as owners can expect to see a return on investment of around 8%. Silver Tower, Business Bay For Sale: AED 2,136,300   This prime office space in the centre of Business Bay, features unparalleled views of Downtown Dubai and the peaceful waters of Dubai Creek.  This is a smaller office than some of the others on the list and is shell and core. With that being said, the unit comes at a good price and allows future owners the flexibility and freedom to optimise and fit the office for their specific needs and requirements.  For those wishing to blow of some steam from a long workday, the building even features a mini-golf course inside, as well as a swimming pool and large gym. This unit provides a unique opportunity for start-ups and smaller companies looking to get a stunning office at an affordable price.  Business Bay, as its name might suggest, is one of the cities biggest business hubs.and is the next community along from Downtown Dubai. The area has excellent transport links, including a metro station, several bus stops, and has direct access to Sheikh Zayed Road.  Iris Bay, Business Bay  For Sale: AED 1,490,260 Iris Bay is a unique state of the art office building of an intriguing design from WS Atkins & Partners,  who developed it as a oval, crescent moon shape.What’s more, the building was constructed to be environmentally friendly incorporating both passive and active environmental features, The building is centrally located in the heart of Business Bay, directly adjacent to the Dubai Creek. One side features views of the waterway, whilst the other looks out onto Sheikh Zayed Road. Whilst this particular unit encompasses a relatively modest square footage, it is perfect for smaller companies or start-ups, looking for a unique office space that is still high-end with incredible views.  One Tower, Barsha Heights For Sale: AED 2,148,900 What really makes this office stand out is its beautiful views that stretch from the Burj al Arab, all the way to the iconic Dubai Marina.  The One Tower is located in the heart of TECOM, a key business hub with direct access to Dubai Internet City and its metro station.   This unit offers a different office experience with a variety of office modules designed to suit a range of business requirements. One Tower is positioned strategically at the most lucrative spot for business in Dubai., with it being within reach of major business sectors like Jebel Ali Free Zone, Dubai International Financial Centre Dubai Media City, Dubai World Trade Centre and Business Bay. U-Bora Tower, Business Bay For rent: AED 2,312,280/ year U-bora Tower plays a starring role in a city full of architectural marvels, occupings an idyllic, prestigious and prominent corner setting on the main axis of Business Bay. A-Grade commercial office space. U-Bora provides a vibrant sense of community and a superb, inclusive environment for living, working, and socializing. The office is  fitted to a high standard with panoramic windows looking out onto the instantly recognisable Downtown district and the Burj Khalifa.  In terms of access to the building,  RTA bus route shuttles from the Business Bay metro to the Ubora Tower frequently linking the Tenants to the Metro, as well as having easy access to Sheikh Zayed Road. Wherever it is you work, it is so important to enjoy and love the space. If you are looking for an office with a wow factor, then contact us today to schedule a consultation to help you find you a dream office.

When thinking about investing in property, people’s mind generally goes straight to villas and apartments. With that being said, investors are increasingly turning to commercial real estate which is becoming a more viable option for potential buyers. Whilst commercial and residential are both types of property, there are several key differences between them. Investment in either necessitates a solid understanding of the nuanced market factors at work, the differences in financing requirements, property management options, leasing arrangements, and a good understanding of the associated risks and drawbacks.  Property types  Commercial property generally refers to all real estate that is used for business or commercial purposes. This encompasses everything from office space to retail units as well as specialised property such as hotel apartments, industrial warehouses, or any other establishment where a company operates or is used to generate income. With commercial property encompassing a wide range of unit types, each with its own capabilities and benefits, it is important to understand the difference between them as well as how they can each generate an income. Office space, for instance, will generate revenue and be priced differently to a warehouse or retail unit of a similar size. Different premises require different licenses; as such, it is essential to know what type of property you wish to buy and lease, the necessary licensing it requires, as well as understand the rental possibilities for that unit.  Financing  Securing a commercial loan is significantly different than a residential mortgage. Commercial units tend to require a more extensive initial investment not just because they are more expensive and have higher market entry points but also because they can be harder to finance. In general, it is easier to get a residential mortgage than a commercial property loan. The loan to value rate should also be taken into consideration, as for commercial properties, they can be very low, with most banks generally requiring at least a 40% down payment. Investors should also take into account that interest rates on commercial properties are generally higher than that of a personal loan or mortgage. Whilst financing a commercial property is certainly possible, this option should be thought of carefully if your purchase is intended to be an investment opportunity.  Property value  The market price of a residential property is generally determined through supply and demand as well as the key property features, i.e. the number of bedrooms, bathrooms, and the amount of living space. However, determining the value of a commercial property is very different. While location and property features play a role, the primary determinant of a commercial property’s value is calculated by looking at the amount of revenue it can/will generate. As such, it can be easier to increase the value of commercial premises by making strategic decisions that will increase the amount of income the property can make. This might involve subdividing or enlarging the unit, improving the properties appearance, or changing its use, i.e. changing a unit designed as a supermarket into a restaurant.  Rental income  Another key difference between commercial and residential real estate is the differences in rent, both in terms of the amount, as well as how it is structured. Rent for residential properties is agreed at a set amount and is paid at set times, i.e. monthly.  Rent for commercial property, on the other hand, can be handled in different ways. The first is the most simple, a fixed rent for a specified number of years. Another way that rent can be structured, is through a smaller fixed rent plus a percentage of turnover. This can be a lucrative option, although the landlord should do their due diligence and be confident of the tenant’s performance financially.  Investors will generally find that commercial properties will have a better ROI as rental yields tend to be a lot higher. Financial security  Another key difference between residential and commercial properties relates to the length of the leasing contract. Commercial real estate generally enjoys much longer lease terms. While a contract for a residential unit tends to lasts a year, companies can sign a leasing agreement for up to 3-5 years at a time. This allows investors with greater security, with a guaranteed income for a longer period of time. The flip side to this, is that commercial properties can also have much greater vacancy periods. While residential properties may only take a matter of weeks to be rented out, commercial properties can potentially take up to a year or more, which is why tenanted properties can sell at a much higher price than vacant ones. This is something that should be taken into account when considering investing in a property. Commercial property is more elastic, meaning they are very price sensitive to market conditions. Potential buyers should be aware that residential property generally performs more consistently during economic downturns, whilst retail units and off plan properties are usually the first property types to suffer. With that being said, with residential properties being relatively inelastic, it can take longer for investors to get the same returns. Following the 2008 market crash, it took a long time for the residential property market to fully recover. With commercial property, there tends to be larger fluctuations in market prices and trends, such as the increasing prevalence of e-commerce which has had an impact on commercial property prices. Although this trend may result in a shift in demand for retail units, it is causing a surge in demand for other types of commercial properties. Compared to traditional brick and mortar stores, e-commerce is a more labour intensive process requiring more warehouse space, which may signal a trend towards more logistics based commercial spaces. We have also seen that with the increasing trend of working from home, commercial office space is heading more towards more premium units in higher quality and more strategic locations, with an added focus on employee satisfaction. This demonstrates that commercial property is a solid investment option, so long as the buyer looks at the current market conditions and makes an informed decision about where and how to invest. (Take a look at our 2021 Q1 report which provides a more in depth insight into the current market trends).   Tenant behaviour With commercial property, landlords deal with a company rather than an individual. As such the relationships tend to be more professional, with both parties seeing the process as more transactional. With business being the primary objective of both parties, it can make the relationships more efficient. What’s more, commercial landlords tend to have more protection under the law if the tenant fails to meet their contractual obligations, giving the landlord an added layer of security. Residential real estate can typically be considered higher maintenance and more hands on than commercial properties, and as such commercial properties are generally easier to manage. In a commercial property, day to day maintenance issues are usually handled by the tenant. Further to this, companies typically operate normal working hours, and as such any issues that may arise with the property is handled within a working week and during the day. With residential, on the other hand, landlords can expect to be called at any time on any day.  This is definitely something to consider if you are aiming to make property investment a primary income stream or if you are planning on buying multiple units. If dealing with multiple residential properties, investors may want to consider employing a property management company to deal with maintenance issues, something that may not be required for commercial properties. A commercial property investment may seem like an intimidating prospect, however the rewards can outweigh the risks. Whilst it is important to understand that investing in commercial property is not the same as investing in residential, both have risks and benefits associated with them. Before deciding to make an investment in commercial real estate, it would be a good idea to sit down with an experienced commercial broker or specialists in commercial property investment. A good broker will talk you through your different options and aid you through the buying process.  For more information about property investments, please contact our team or check our properties available for sale.

Dubai being the preferred hub for businesses in the Middle East and North Africa (MENA) region boasts one of the most amazing commercial spaces in the world. CRC Property brings you the list of most expensive and lavish offices in Dubai gracing the Dubai real estate market.  1. Burj Khalifa, Downtown Dubai Nestled in the tallest tower in the world, no wonder this office tops the chart. With uninterrupted views of Dubai skyline, the prestigious office boasts 10 manager’s cabins, 4 meeting rooms and work stations. Residents of this luxury development will have access to some exclusive benefits, including access to the sky lounge located on the 123rd floor, wellness facilities, discount for the in-house restaurants and the direct link to the Dubai Mall. The office is available both for sale and lease. Asking price: AED 45,000,000 2. Bay Square, Business Bay With a whopping 33,000 sq.ft. built-up area and 69 allocated parking spot this office is perfect for a big team. Located at the Bay Square, the complex has so much to offer to its residents, including access to the UFC gym, convenient stores, banks, restaurants, nurseries and many more facilities all within the development. Asking price: AED 29,400,000 3. Al Sahaa, Downtown Dubai This bespoke boutique office complex is located at the most premier location next to Souq Al Bahar and the Palace Hotel. Traditional Arabic architecture balances well with office modern glass interiors. What is more, employees can have a lunch break with Burj Khalifa views without leaving the office or just head to the Dubai Mall for endless dining options. Asking price: AED 17,900,000  4. Vision Tower, Business Bay With 360° views of Dubai skyline, this office is made up of 3 meeting rooms, 10 manager’s cabins and open plan office space. Occupying the entire floor, the company can benefit from flexibility in creating a powerful branding statement and company positioning.   Asking price: AED 16,900,000  5. Sobha Sapphire, Business Bay Designed in loft-style with brick walls and stainless still frames, this stylish office features a big conference room, open plan work stations, multiple meeting rooms and dedicated canteen. Fitted with luxurious furniture and modern equipment this office is ideal for those who appreciate the finest things in life. Asking price: AED 12,000,000 6. Vision Tower, Business Bay Another luxurious listing in Vision tower comes with sweeping views in every direction. Designed in vibrant colours, the office boasts a big conference room, 2 meeting rooms, and 2 open-plan office spaces. Residents of Vision Tower have direct access to Bay Avenue that is home to an array of amenities including numerous restaurants, supermarkets and retail shops. Asking price:  AED 10,800,000 7. Emirates Financial Tower, DIFC Offering panoramic views of the financial hub and providing the ultimate luxury and comfort, Emirates Financial Tower is the most sought after address in the world’s new financial centre. On top of its prime location, this spacious office distinguishes itself with a sleek design and modern features. Asking price: AED 9,500,000 If you are are looking for an office for your business, visit crcproperty.com for the updated list of exclusive offices for sale in Dubai.