Market Update

In the dynamic landscape of Dubai's real estate market, the second quarter of 2023 witnessed a remarkable resurgence of Norwegian investors in the commercial property sector. Emerging as the second-largest group of buyers, they made an impressive comeback after being largely absent since before the Covid-19 pandemic.According to our latest report at CRC, the number of sales transactions in Dubai's commercial sector surged to 3,080 in Q2 2023, signifying a significant year-on-year increase of 22 percent. This resurgence points towards a renewed confidence in Dubai's commercial property market and reflects the city's attractiveness as a global investment hub. Furthermore, the value of commercial property deals in the second quarter rose substantially by 101%, reaching an impressive AED 21.4 billion ($5.8 billion). This substantial increase in deal value indicates the growing interest and trust of international investors in Dubai's commercial real estate segment.The Indian investors continued to be the most active in the commercial sector, reinforcing their dominant position in the market. However, the notable development in Q2 2023 was the resurgence of Norwegian buyers, securing the second spot among the top buyers of commercial property. Their strong return after a period of relative inactivity underscores the allure of Dubai's business landscape and signals a renewed appetite for commercial property investments.The presence of British and French investors as the third and fourth largest buyer groups respectively indicates the diverse international interest in Dubai's commercial real estate market. This diversity in investments highlights Dubai's global appeal as a thriving business and financial center.Completing the top five buyer groups were Russian investors, emphasising the market's attractiveness to a wide array of international investors. Dubai's strategic location, world-class infrastructure, and business-friendly environment continue to be key factors contributing to its status as a preferred destination for commercial property investments.

Dubai is the city of gold and business. Here, you can find thousands of business places decked up beautifully with top-notch and latest premium-quality furniture from the best providers. Suppose you also own an office in this city. In that case, you should also decorate it with the best supplies and furniture since incorporating good, relevant, and thoughtful pieces of furniture not only enhances the value of your office but also converts it into an energetic, professional, and active place for working.If you are from Dubai and looking for the best office supplies and furniture provider around you, you have come to the right place. In this guide, we have noted the top six leading office supplies and furniture providers, distributors, and installers in Dubai. So, if you need the best furniture for your office, keep reading this guide till the end, and explore the best places to buy office supplies and furniture in Dubai.Top places to buy office supplies and furniture in Dubai:1. WorkspaceWorkspace is a leading office furniture provider in Dubai with two other outlets in Rotterdam and New York City. It is a great office furniture manufacturer, designer, and supplier from where you can get all types of office furniture within your budget. When it comes to quality, you can trust the workspace, closing your eyes. It makes incredibly affordable, trendy, vintage, and edgy-looking furniture that can effortlessly enhance the elegance of your office space.From storage cabinets to chairs, desks, lounge cabinets, and acoustic furniture, you name it, and you can get it with workspace. Their highly professional team members are always ready to find and design the best furniture for your office premise to enable you to make a dream office. You can hardly find a customer-oriented office furniture provider like Workspace in Dubai. The best part of this store is that you can make customized furniture here. Following the conventional B2B method, the workspace takes care of all customers from project planning and designing to execution. Your office will stand out from other offices if you incorporate the edgy furniture from the workspace. So, make your workspace better today only with workspace!2. Office MasterIf you are looking for trendy and luxurious office furniture and supplies in Dubai, OfficeMaster is your final destination. Since the office is where you and your employees spend most of the time, it has every right to be nicely decorated with the most luxurious and over-the-top furniture. With Office Master, you can make your dream customized office any day. Along with furniture, you can get interior design and other services from here.Office Master offers a wide range of furniture, supplies, and other services, including office Chair, Visitor Chair, Leather Chair, Mesh Chair, Educational Chairs, Ergonomic Chair, School chairs, Counter Stools, Training Chairs, Office Stools, Reception Desk, Lounge Chairs,  Office Desk, Height Adjustable Desk, Workstations, Executive Office Desk, Coffee Tables, Meeting Tables, and much more. They ensure everything is according to their client’s requirements and goes with their offices’ colours and themes.Quality is another critical thing you must check while buying furniture. But, with Office Master, you no longer need to worry about quality. Check out their official website and place your order with Office Master soon!3. Office OneOffice One is our next pick, another leading office furniture provider all over Dubai and Abu Dhabi. Here, shopping offers plenty of choices with more than 100+ top brands and 5000+ products. In short, Office One has everything for every office. Here, you can get a significant thing like a drawer or durable table and small things like a highlighter or a ball pen that make this place unique.From office supplies and stationery, like, writing instruments, paper products, office essentials, mailroom and packing supplies, box files, and ring binders, filing accessories, green office, desk organizers, sign, display, and ID holders, cash handling, and key cabinets, to multiple boards, safe, and furniture, including chair and chair mat, decorating accessories, lighting, filing cabinets and trolleys, filing cupboards and covers, shelf, sideboards, drawer units, room divider, chubb safe, Valberg safe, you can find EVERYTHING at Office One. It is a one-stop destination for all your office supplies and furniture needs. It makes Office One the number one choice for many people from Dubai who can get comprehensive services here.The shop has set everything keeping their clients in mind regarding the price of the supplies. As a result, you can get your hands on all stores without investing lots of money since everything is exceptionally budget-friendly here. So, do shop from Office One at your early convenience.4. FurnicraftIf you are on a journey to making your office premise a special and sustainable place that encourages excellent working flow and learning, a good choice of furniture and other things is a must. Furnicraft LLC is a top-rated office furniture provider based in Dubai- the United Arab Emirates, that not only makes but also distributes and installs furniture for offices. Furnicraft has an office along with a showroom where they display all the products their company makes. The excellent features of Furnicraft are their premium-quality furniture, fast and affordable delivery, massive collection, and best price.Furnicraft provides furniture solutions for offices in Dubai online as well. So, if you do not get the time to visit their store to select supplies for your office physically, you can order anything online. However, seeing the store and the products before you make a purchase online is recommended to get value for money. The best-selling and top-rated furniture you can get from Furnicraft are different types of office chairs, all types of office desks, workstations and cubicles, meeting rooms, reception desks, coffee tables, sofas, training tables, flooring, public furniture, steel furniture, wallpapers and blinds, storage, fillings, and other stuff. Whichever piece you choose from Furnicraft, you can get their signature creative touch on all products. The durability, value for money, trendy looks, and best prices make Furnicraft a one-of-a-kind office furniture shop in Dubai.5. SAGTCOSAGTCO is another leading office supplies and equipment provider in Dubai best known for making, supplying, and installing furniture in their client’s offices according to their needs and preferences. SAGTCO has been in this field since 1995 and now has become one of the top-rated furniture distributors in Dubai. Their business is divided into three major divisions. You can find thousands of high-quality, trendy, affordable furniture ranges in the office furniture and interior fit-out division.You must always select your office furniture with knowledge, patience, and time. In that case, you can always receive the best assistance from SAGTCO and their team. Here, you can visit their store to get your hands on premium-quality hand-picked furniture, including trendy office screen panels, office meeting tables, customizable office chairs, office sofas, multipurpose chairs, office system furniture, desks, modern office workstations, and work units or partitions, high adjustable desks, executive furniture, and many more other products. Additionally, SAGTCO offers free space planning, highly customizable furniture, professional installation, and express delivery services all over Dubai. So come and visit the store at your early convenience and select brilliant furniture for your smart office soon!6. High MoonHigh Moon is our final pick from where you can get your hands on the new-age, fashionable, elegant, excellent, and incredibly inexpensive furniture and other products and services for your office in Dubai. In High Moon, you can get only good-quality products with the latest designs, colours, and look that will surely compliment the overall look of your workplace. From the executive desk, reception desk, workstation, conference table, and storage to an ergonomic desk, lounge seating, and a wide variety of executive chairs, you can get everything under one roof at an affordable price. Furthermore, after selecting the furniture’s size, colour, and designs at high Moon, you can get fast and reliable free delivery options. So if you are interested, visit the official website of High Moon and get your hands on the dream furniture and make your office premise a better place for work and growth.ConclusionThese, in short, were the best places to buy office supplies and furniture in Dubai. Office supplies are crucial and can make or break the aesthetic of office space. This is why it is So, all office owners from Dubai, get ready to visit the places mentioned above a get your hands on the affordable, suitable, and matching office furniture and supplies for your office soon. Make sure to keep the colour of the flooring, walls, and other decorations, the type of office you own and the size in mind for selecting the best office furniture today. Visit these places and choose the supplies you need for your office.

These days classified websites have become the number one choice of many business owners and common people since it is a great platform that promotes interaction between buyers and sellers. You must know about classified websites if you are from a giant business-oriented city like Dubai.So keep reading this guide to explore the top 15 classified websites in Dubai, UAE.1. DubbizleDubbizle is the number one classified website in Dubai, UAE, where you can buy and sell anything online. This website offers users to get their hands-on property, cars, jobs, as well as different electronics, commodities, and more within their budget. For the unmatchable benefits provided by Dubbizle, it has become the number one and the favorite online marketplace in UAE. Additionally, you can get the Dubbizle app from the Google Play Store and iOS App Store. Check out Dubbizle right now!https://uae.dubizzle.com/ 2. Total DubaiTotal Dubai is another highly popular classified website in Dubai, UAE. Here, you can buy and sell new and used properties and vehicles. Furthermore, Total Dubai offers many services, including Accounting and Consultancy, Advertising and Marketing, Visa and pro services, Business consultancy, General Contractors, Home cleans and Maids, Real Estate agents, Handy Man, and more. You can also explore categorized job listings on this website based on different profession types. It is a 100% reliable and safe website to begin your journey with.https://www.totaldubai.com/ 3. AdPieceWith 11 years of experience, 4 offices in Dubai, great and leading partners in the market, and most importantly, thousands of satisfied users and clients, AdPiece is our next pick in the classified websites market in Dubai UAE. It is a leading platform that designs and executes tailored marketing and monetization solutions using great power, Artificial Intelligence-driven technology, and proprietary architecture. With AdPiece, you can explore many services with the best features, including media strategy and planning, desktop and mobile, seamless integration, performance-based optimization, and more. So check out the website right away!http://adpiece.com/ 4. Get That (gt)If you are in search of a classified portal for GN media, you have come to the right place. Get That or GT is probably the biggest UAE-based classified online marketplace for selling and buying properties, jobs, and new and used vehicles. It offers a highly reliable and responsive website where you can get categorized names and details of the sellers and places in Dubai. From Honda, Nissan, BMW, and Toyota, to Mercedes Benz, you can explore all top-notch brands of cars from the major cities of Dubai, including Abu Dhabi, Ajman, Sharjah, and more. This website has over 4.5 million unique users. So, be a part of Get That soon.https://getthat.com/autos# 5. Dubai Classified.comDubai Classified is another excellent free online classified website in Dubai. You can post your ads for jobs, properties, part-time jobs, buy and sell domestic services, automobiles, commercial services, pets, and other day-to-day classifieds. This is a highly responsive website with 24/7 customer support service. You can find over 2000+ listings in all categories, including different services, education, jobs, communities, businesses, etc. For more information, you can follow Dubai Classified on social media platforms, including Facebook, Twitter, Pinterest, YouTube, and LinkedIn.https://www.dubaiclassified.com/ads/ 6. Dubai Bulletin BoardDubai Bulletin Board, which generally goes by the name Dubai BB, is a great, trusted, and highly secure free online classified in Dubai, UAE. Whether you are new in Dubai or need a job, vehicle, or property, you no longer need to search for them here and there as long as you have a phone and internet connection. With Dubai BB, you can find everything, such as hotel accommodation, apartments in Dubai, cars, household furniture, electronic goods, mobile phones, computers, and many different services and jobs according to your need. So go and check out the official website at your early convenience.https://dubai-bb.com/ 7. Adsnity.comAdsnity.com is another free classified ad posting website for Dubai residents and offers free classified services in different countries worldwide, including Europe, America, Australia, Canada, China, Indonesia, etc. This website generates free leads and sales where you can post your ad and buy products depending on your budget, requirement, location, and other details. With this exciting website, you can buy and sell cars, autos, electronics, services, software tools, and thousands of other items. So, go and search for the item you need on Adsnity now.[Website]8. Expatriates.comWith Expatriates.com, now posting free ads and locating your necessary items, services, and properties is no longer a hassle. If you are from Dubai and searching for a free classified website that works internationally, this one is probably the best option. On this website, you can post and find items, including appliances, electronic goods, books, furniture, bicycles, jewelry, phones, music instruments, and so many other things. Additionally, it is an excellent website for all job seekers and employers. So hurry up and check out Expatriates.com soon.https://www.expatriates.com/ 9. Classified ArabiaClassified Arabia is an excellent option for all Dubai residents, where they can browse and post millions of necessary advertisements depending on their requirements and preferences. This website offers numerous categories when it comes to selling and buying products. From vehicles, real estate, and jobs to pets, accommodation, and many services, you name it and get it on Classified Arabia. It is not only Dubai’s but the world’s number one platform for classified with the maximum possibilities. So if you are interested, make sure to check out Classified Arabia ASAP![Website] 10. Wall ClassifiedsThe number ten classified website in Dubai must be Wall Classifieds, an excellent platform for posting about different services, job options, learning, items, vehicles, real estate, education, pets, and more. Wall Classifieds offers a highly responsive website for all users with different requirements. Finding the thing you are looking for is effortless with this website. All you have to do is jot down your location and the category you want to look for, and the website will open a giant collection of items within a few seconds.https://www.wallclassifieds.com/ 11. Free Ads TimeFree Ads Time is an emerging classified website in Dubai, UAE, offering users multiple classifieds and business options. Here, anyone can explore anything, including antiques, art and crafts, baby products, cameras, Christmas items, electronics, furniture, handmade items, industrial products, kitchen products, musical instruments, pets products, video games, appliances, books, cell phones, clothing, vegetables, foods, office items, luggage and bags, and many other items. So don’t forget to check out the website next time.https://www.freeadstime.org/ 12. Gigantic ListGigantic List is another trusted and favorite website in Dubai, highly known for publishing great qualified, free ads for different needs. On this website, you can buy and sell different items without any potential risk. From vehicles, real estate, and learning to community, health, and jobs, GiganticList offers everything. So, get your hands on Gigantic List’s official page to post advertisements and keep selling and buying products at a reasonable price.https://www.giganticlist.com/ 13. Find MasterOur next classifieds and business website is Find Master, which enables users to buy and sell products and services effortlessly from all over Dubai at any time. This website opens a profitable door for all sellers since they can post anything they want to sell using Find Master. Additionally, it is an excellent platform for buyers where they can find great deals on real estate, pets, new and used vehicles, home insurance, and more. So make sure to go and visit Find Master at least once for more clarity.https://www.findermaster.com/contact 14. Viva UAEViva UAE is highly known for providing high-response free classifieds and advertisements all over Dubai. The website is nicely made and specially designed for users, keeping their convenience in mind. You can find thousands of resourceful and valuable services on the website, including renovations and repairs, health and therapy, moving and transport, freelance, security, IT and telecom, classes and lessons, and more. The extra perk of this website is that it also offers the travel and tourism category and the vehicle and transport category. So, if you are looking for services and items or in search of buyers, go to the Viva UAE website for more info.https://vivauae.com/ 15. LocantoLastly, Locanto is a tremendous free classified website that mainly provides user-to-user classified ads in all major cities in Dubai. Placing an ad on Locanto works like a local newspaper, somewhere better than a newspaper. The categories you can find in Locanto are classes, community, events, for sale, personal, vehicles, jobs, real estate, and more.https://m.locanto.ae/ ConclusionThese, in short, were the top 15 classified websites in Dubai, UAE. So, if you are from Dubai, make sure to go and check out all of these websites at your early convenience and begin your journey of posting ads, selling, and buying different products, services, and other things. Make your wise choice now!

Dubai’s economy is flourishing, but new businesses are choosing to migrate there because of the city’s reputation for safety, quality education, accessibility, tax structure, and modern healthcare systems (as demonstrated by the city’s swift response to the coronavirus outbreak).Many areas of the economy, including trading, export, import, logistics, financial services, hospitality, event management, tourism, construction, and so on, have transformed the United Arab Emirates into a global trading hub and ultimate investment destination. As a result, the United Arab Emirates is a popular choice for many entrepreneurs because of various factors. The top ten reasons to do business in Dubai are listed here: 1. Growing economy of DubaiDespite the pandemic, the UAE’s economy remained robust. In other words, tourism rebounded the fastest in the world.Despite the Covid-19 situation, the United Arab Emirates plans for a brighter future by aiming to double its economy by 2030. Entrepreneurs, Investors, and creative minds can also use the country’s state-of-the-art infrastructure, superior connectivity, highly developed incubators, accelerators, investors, various incentives, and recent legislative modifications. 2. Ideal LocationA suitable venue to conduct many economic activities, such as international trade (import and export), logistics, tourism (hospitality), and events (event management), Dubai’s strategic location allows for easy access to all three continents. Dubai is in the center of the 400-mile-long shoreline of the United Arab Emirates. Because it has sea and air access, Dubai is an ideal transit hub for products moving between East and West. 2.5 billion consumers in Gulf, Africa, Asia, and CIS nations may reach through Dubai. 3. Favorable Tax Structures and Regulatory for BusinessesInterestingly, many entrepreneurs choosing Dubai as their base of operations are ex-pats from high-tax cities and nations like the United States, the United Kingdom, Switzerland, and France. In Dubai, profits are tax-free, yet it is vital to understand the tax rules of every individual’s home country. People who favor self-regulation highlight Dubai’s regulatory environment as an additional reason to go there. Corporate and personal income taxes and withholding tax exemptions are available in the United Arab Emirates’ 38 free zones, established to encourage foreign investment.The UAE’s economy is considered one of the most liberal and diverse in the Middle East and North Africa. Most businesses in Dubai are exempt from taxes, except for branches of foreign banks, hotels, and oil and gas corporations headquartered in the United States.Dubai does not impose any of the following taxes:Personal income taxValue-added TaxCapital gains taxCorporate TaxWithholding Tax 4. A Safe Place to Live and WorkEntrepreneurs looking to launch a business in Dubai can find all they need in the city’s innovative design centers, startup hubs, and strategic collaborations. One of Dubai’s distinctive features is its emphasis on health and safety due to its status as one of the safest cities on Earth. Dubai is among the countries with the world’s lowest crime rates. While the world average is 6 to 8 crimes per 100,000 people, the number of severe crimes in the United States is only 0.5 to 1 per 100,000. Furthermore, the United Arab Emirates is one of the most stable countries. The United Arab Emirates has attracted many foreign investors and enterprises because of its high security and political stability. A safe environment is indeed necessary for a business to thrive. 5. Residency PermitA UAE provides Residency Visa if you open a business in Dubai or other Emirates in the UAE and your family members and expatriate staff. Having a UAE Residency Visa offers various advantages, including opening a current account in UAE banks, leasing an apartment for an extended period, and entering and exiting the UAE multiple times.Golden Permits, long-term residence visas that allow business owners and their staff to live and work in the UAE without the historical necessity of having a sponsor, were made available in 2019 to make relocation easier for businesses. In contrast to the past requirement that a company outside the free trade zone have a local partner with at least 51% ownership, these visas are awarded to qualified individuals and their families for 5 or 10 years, renew automatically, and offer 100% ownership of one’s business. The goal is to make the UAE more appealing to business people, particularly startups and business owners. 6. World-class Health CareHealthcare in Dubai is excellent, with top-notch facilities and highly qualified staff overseen by the Ministry of Health and Prevention. In addition to the government’s four hospitals, Dubai, Rashid, Latifa, and Hatta, more than 40 other hospitals in Dubai. Healthcare in Dubai provides healthcare accessible to all residents, and employers need to provide health coverage for their employees’ costs.Living a healthy lifestyle is impossible without finding something to do in Dubai. Fitness-conscious visitors and locals alike can enjoy the city’s pristine beaches, delicious cuisine, and bustling streets great for a stroll. Sports including skiing, polo, cricket, tennis, cycling, and camel riding are most popular. 7. Retain capital and profits in fullRemittances of capital and profits are not subject to any limitations in Dubai. However, many businesses prefer to keep their money in the United Arab Emirates because of its tax-free status. In addition, there is no foreign exchange restriction in the UAE, and the US dollar and the UAE Dirham have a steady exchange rate of US$1.00 to AED 3.678. 8. Transportation and InfrastructureThe Dubai International Airport (DXB) serves over 100 airlines and 260 destinations worldwide, making it one of its best public transportation systems. In addition, Dubai International Airport (DXB) is the world’s largest and fastest-growing passenger and cargo hub, according to the Airports Council International.You don’t have to be tense about finding an office, a retail shop, a manufacturing unit, or a warehouse in Dubai if you’re launching a business there. There has been a tremendous amount of new construction on a vast scale in recent decades in residential, tourism, industrial and commercial use. New highways, improved public transportation, and a new airport are all in the works. UAE’s infrastructure and transportation have been ranked among the best globally by the WEF Travel and Tourism Competitiveness Report. However, there was a significant gap between the quality of roads in the country and the quality of air travel, ports, and ground transportation. There are two kinds of ports: maritime and aviation.Dubai International Airport is the region’s largest airport and one of the region’s largest seaports (Jebel Ali Port). Importing and exporting items to and from Dubai may be done via sea, land, and air, so there’s no need to worry about the logistics of international shipments getting here or going there. 9. Corporations with a global reachMicrosoft, HP, Oracle, Nokia, Sony, and Boeing are just some of the world’s most well-known multinational corporations with regional offices in Dubai. In addition, Procter & Gamble, Adidas, and BBC World have regional offices in Dubai. Moreover, numerous internationally famous colleges have campuses in Dubai, such as the American University, Wollongong University, Michigan State University, London School of Economics, Rochester Institute of Technology, London School of Business, and Hult International Business School. 10. Living standardsFinally, the excellent quality of life and living conditions that one may enjoy in Dubai are another reason to choose the Emirate as a company location. Among the 160 countries studied, the UAE came first in the Middle East and North Africa for overall quality of life and 15th globally. Furthermore, the United Nations has recently placed the United Arab Emirates as the 14th happiest country. Therefore, you can be more productive and inspired by the pleasant environment while enjoying an excellent quality of life and living standards.As a result, Dubai has become one of the world’s most important cities. Businesses worldwide are interested in doing business in Dubai because of the government’s strong support for small and medium-sized enterprises (SMEs). Additionally, Dubai’s Smart City 2021 initiative is changing the city, revolutionizing government service delivery, encouraging private sector partnerships, and increasing happiness. In addition to drawing worldwide attention, Expo 2020 Dubai is expected to boost domestic travel, which grew during Covid. The United Arab Emirates’ position as a global melting pot is admirable, with 180 nationalities in the UAE. The Bottom LineWhile Dubai’s position as the world’s one favorite spot is undeniable, it will only get stronger in the future. More and more people are flocking to do business, work, and live in Dubai for all these reasons. Nearly 90% of Dubai’s population comprises expatriates from 200 countries worldwide. Primarily, they’re drawn to the Emirate by its commercial and investment opportunities.   

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 UAE and the rest of the world faced a tumultuous year in 2020 as everyone struggled in the face of the coronavirus, and both the health and economic adversities it brought. Dubai saw an economic decline in 2020, with both oil and non-oil sector GDP declining in real terms, however, the rate of decline reduced towards the end of the year. The UAE, like other GCC countries, faced both sharply lower than expected oil revenue in 2020 in addition to the impact of the coronavirus on the non-oil sectors. Due to the global lockdown demand for oil dropped dramatically, meaning cuts in oil production were necessary. With that being said, the price of oil did increase and stabilise throughout the second half of 2020, with price starting to rise again by the end of the year. Oil prices saw a sharp increase in 2021, providing a positive outlook for the economy. ADNOC will spend $122 billion over the next five years to help boost its capacity to 5 million barrels a day by 2030 from around 4 million now. Last year, the UAE was at odds with OPEC, arguing against the steep cuts to oil production.  Despite this, Abu Dhabi is taking the initiative and working through the downturn to expand its ability to pump crude oil,  with the Emirate announcing earlier on in the year that they have awarded Japan’s Cosmo Energy Holdings Co. the right to explore for offshore oil and natural gas as the UAE seeks to expand its output capacity. Yet despite these promising outlooks, it has been said that it is unlikely that oil activities will be able to return to pre-pandemic levels for 2 years at least. The pandemic significantly impacted the real estate market in Dubai, which was disrupted with the lockdowns, restrictions, and the growing trend of working from home. Recovery in the commercial market was slightly slower compared to residential real estate, but it has also enjoyed a boom towards the end of the year. The fact that the total value of commercial units has decreased will likely mean that investors looking to take advantage of the economic situation will make 2021 a good year in terms of the number of transactions. This can be seen from the fact that despite buyer leads seeing a year on year increase of 79% throughout 2020, this was not reflected in the number of transactions. This might indicate a growing interest in purchasing a commercial property, with buyers waiting for 2021 to see what happens in terms of the economic situation. Whilst it is undoubtedly true that the UAE and the rest of the world will need time to recover from the unprecedented events of 2020, from the onset of the pandemic, the UAE Government took great strides in monitoring market conditions and went to great lengths to ensure a quick resumption of economic activity. The UAE introduced a strict lockdown in March of last year in the interest of public safety. Whilst the decisive measures by the government last year meant business activity was strictly limited, during the period between March and October this year, the Government of Dubai launched four stimulus packages worth Dh6.8 billion to mitigate the impact of these measures and to reduce any repercussions in the form of job losses or disruptions to businesses.In late 2020, we saw the government introduce a number of new laws that promoted the country as a pro-business environment with Dubai ranking third in the latest Global Cities of the Future list compiled by FDI Intelligence, which measured foreign direct investment flows across the world. From announcing that foreign nationals can now have 100% business ownership to the introduction of work from home visas that allow expats working abroad to live and work in Dubai, it is clear that the government is going to great lengths in cultivating an attractive location for businesses. Another initiative that the government launched was the Virtual Company Licence, which allows global businesses to access a regulated e-commerce platform populated by Dubai-based companies, while also exploring new markets and investment opportunities digitally. The introduction of trade relations with Qatar and Israel will also open the doors to new markets and will continue to encourage business and trade. Whilst it is too early to tell about the success of these initiatives, 2021 had a promising start in terms of business, with a 9% year on year increase in the number of business licences issued by DED. January also saw Dubai’s private sector returning for the first time in 12 months particularly at the entry level, as companies expressed optimism toward future business. With UAE’s fast rollout of the Coronavirus vaccine, the launch of Dubai Expo expected later in the year, as well as the country’s economy looking to grow 1.3%, according to the IMF  this renewed business activity looks to be just the start of a successful year for the UAE.  

This week, Dubai hosted the biggest and most influential real estate event in the Middle-East, Cityscape. The event is designed so that industry professionals can network and learn from each other, through talks, panels and exhibitions. Despite being held in the middle of a pandemic, the event was carried out successfully and safely, with strict social distancing rules put into place. This included employing social distancing ambassadors who ensured participants adhered to the rules, enhanced cleaning of all areas, non-contact registrations. This stringent safety measures put in place shows that events like this, whilst very different from what they were like pre-pandemic, can still be held. The director of CRC, Ben Bargh, was part of a panel at Cityscape, discussing the new reality of the commercial property market. Despite a turbulent 2020, the commercial real estate market will survive, thanks to an increasing amount of importance being placed on 360-degree digital portals and building management. Due to the circumstances brought about by the lockdown, real estate companies have been forced to turn to digital solutions to show off their properties. More companies are moving towards a multichannel approach and expanding their online marketing. Rather than traditional brick-and-mortar estate agents, companies are adopting online marketing campaigns, boosting their SEO, and using social media, which keeps in line with the digital mindset that is becoming an expectation for modern brands. As technology moves forward, real estate companies are also looking to better, more advanced property portals, such as Houza, which offers an optimal user experience in searching for properties in Dubai, especially when it comes to bringing the property to life online. Behnam Bargh, Director at CRC, echoed similar thoughts, as he said the first impression of a commercial property for a client is looking at the picture of the property. In that sense, portals become very important in a customer’s journey when looking for an office, retail space or warehouse. This is especially the case now that we have seen a shift in people searching for properties on their desktop to their phones. Whilst nobody expected for the market to depend on technology as much as we have, it is something that we need to take in our stride, allowing for commercial real estate companies to develop a more rounded marketing effort as we head into the New Year.    

The coronavirus pandemic has undoubtedly caused a shift in the way we live and work. It has also caused major concerns regarding the safety of employees in shared office spaces, which have the potential for the virus to spread across a company. That being said, companies need to take on increased responsibility and take certain precautions and measures to help mitigate the spread of the virus and make their office spaces as safe as possible during the pandemic. Here are some tips and advice on helping make your employees feel confident and secure working in the office. Support your workers These are definitely some unprecedented times that we are currently experiencing, with everyone facing new struggles and difficulties. That is why it is so important to be extra compassionate and flexible with our employees and fellow co-workers. If you are implementing work-from-home, there should be consistent communication between employees and employers. With reduced or lack of face-to-face interaction, it can be hard to keep in constant contact with each other. Therefore a deliberate effort in making phone/video calls and daily check-ins should be made. You should also support your employees in a practical sense. Have a box of masks handy for each employee, as well as plenty of hand sanitizer available. You might also want to consider giving your employees a COVID-19 safety kit. This might include a pack of facemasks, hand sanitizer, pack of disinfectant wipes, and a leaflet on safety measures and precautions, as well as any rules that the office might have in place.Clean, clean, and clean some more!This is probably the most important thing you can do!  Ensure you are constantly washing your hands, keep a bottle of hand sanitizer at your desk, and clean any workspace you come in contact with. Make sure to cover your mouth with your elbow or a tissue when you need to cough or sneeze instead of using your hands. Wash your hands thoroughly with soap and water for at least 20 seconds regularly throughout the day, especially after touching any public surface or being in a communal office area, such as a shared kitchen or conference room. It should also be remembered  to disinfect high-touch surfaces daily in common areas (e.g. tables, hard-backed chairs, doorknobs, light switches, phone receivers and keypads, remotes, handles, touchscreens, desks, toilets, sinks, elevator, and elevator buttonsThere should also be a thorough daily office clean, which involves properly disinfecting every surface. Employees should also be encouraged to thoroughly wipe down their own desk and work area when leaving, especially if your office practices flexible seating with no set seating plan. Employees should remember that to properly disinfect something, they should clean only one item at a time, using enough wipes to ensure the surface stays wet for 4 minutes. Keep your distance and embrace technology In order to stick to the social distancing guidelines, employees should always keep between 6ft or 2 meters apart at all times. This, however, can be difficult within an office setting, especially if meetings need to be conducted and desks are already set up. Therefore, face-to-face contact should be kept to an absolute minimum. With modern technology, meetings and conferences no longer need to be in person. Companies should try and avoid unnecessary face to face contact by encouraging virtual zoom meetings. This also means there is less need for employees to come into the office every day. Therefore companies might want to consider staggering work times implementing reduced capacity in offices. This might mean encouraging working from home, with half the workers to come in one day and the other half the next. If a company is going through with reduced capacity, companies might also want to consider creating a new office floor plan. In creating a new plan, certain desks might need to be put out of use, ensuring a sizable gap between each worker.  That way employees can have their own space without the need to share desks. If at all possible, install touch-reducing amenities. This might be double swinging doors that can be opened with a shoulder/foot, motion sensor lights, or hands-free signing in/out machine. This will reduce the number of surfaces that employees will have to touch. Companies should also limit the guests that come into the office to an absolute minimum. This applies to both guests who will be coming in for meetings, as well as people delivering items into the office. Discourage employees from ordering food or receiving personal packages into the office. The fewer people that come into the office, the less likely the chance of spreading the virus. Communal spaces This is an area where the virus is most likely to spread between. Rather than using reusable mugs, cutlery and plates, use single-use. This will reduce the chance of the virus spreading when your employees are on their lunch and coffee breaks. Make sure to regularly wipe down and disinfect communal areas, and limit the number of people that can enter at one time so to ensure everyone can maintain social distancing.  Communication is key Make sure all of your employees are kept up to date on all the latest updates. This might involve sending a weekly newsletter letting employees know all the latest information in regards to COVID-19 and to reinforce any rules put in place to reduce the spread of the virus.Visible signage around the office should be put up that will raise awareness about how employees can ensure their safety. This might include information on good respiratory hygiene, cleaning recommendations, social distancing guidelines, and symptom checks, as well as information on what employees should do in the event that they start showing symptoms. You should encourage regular COVID checks, and if anyone is unlucky enough to contract the virus, employees should know the correct procedure that they should follow. This would include the infected person and anyone who had contact to self-isolate until they receive a negative test result. Companies may also want to create a platform where employees can communicate and raise their concerns, and be more flexible and accommodating in regards to their personal circumstances and needs. We understand that employees may have concerns for their safety when working from an office space, with concerns over contracting the virus. That being said, we hope that these tips and advice will help encourage employees to feel more confident about working in a shared environment again.   

The current pandemic has meant that there have been massive changes in the way we work. The biggest change is the increasing trend in working from home.  Safety concerns and government regulations have meant that now more than ever, employees are being told to work from home.  This new working style has brought some welcome benefits, or ‘home comforts’. Casual clothing, even pyjamas, can be worn every day and during breaks, employees can just veg out on the sofa. Employees are afforded the opportunity to work in an environment that suits just them. It has suddenly given workers flexibility and freedom that has not been afforded before in the same way.Whilst it might be nice to get a bit of respite from the office, a study by The Khaleej Times found that UAE residents are struggling with some aspects of these measures, such as feelings of being disconnected, lack of opportunities to learn from colleagues and in some cases, an increase in workload. There is also the problem that for many people right now, working from home measures means that there is no distinction from work-home life and therefore turns the home into work. There is no escaping it. That is why, keeping in mind the benefits of working from home, it might be time for managers and business owners to make some much-needed changes to the working environment.When offices do finally decide to open again fully, it is important that managers and business owners take into account everything that has happened in this year and to learn from both the enjoyment and grievances that employees have in regards to working from home. That is why, after bringing the office into our homes, it might be time to consider doing it the other way around. Whilst no-one is saying that employees should suddenly start coming to work in their pyjamas and lounge around in the office all day, the experiences of working from home have certainly started conversations and new ways of thinking about how we see office spaces. We spend so much of our time in the office, that it is perhaps time we start making it a place that we genuinely enjoy going to, a sentiment echoed by Betterhomes Managing Director, Richard Waind, who claims “the office of the future needs to be more than just a place to work. It will need to entice workers back with some of the comforts of home and create spaces that are truly collaborative”. If the problems that people are having with working from home are anything to go by, people are longing for more collaborative environments. The days of individual, isolating office cubicles are over. With falling office prices, now is absolutely the time to invest in offices that have shared spaces that really encourage collaborative working. Companies can even afford bigger offices that have bigger break rooms, and entertaining spaces, in order to transform them into comforting and relaxing spaces. At the end of the day, the office is supposed to be for the employees. Find out what they want. Allow them to bring their home into the office, encourage photos, and plants. Invest in some comfy chairs for the break room. Ask them about how the office can be a more lively, and enjoyable place, which in turn will create a great company culture.  

As our norms and routines significantly change towards a “new normal”, that is yet to be defined, many questions and concerns have arisen for the individual, both professionally and socially. With the social and sectorial restriction in place in the UAE, companies, and businesses have had to act quickly to ensure the health and safety of their staff, while implementing new operational strategies and approaches to allow business continuation. Inevitably these changes have had a material impact on cash flows, with liquidity pressures rapidly increasing. These challenges have created uncertainty within the real estate sector, although there are still deals coming to fruition, many acquisitions, disposals, and developments are now on hold. Sales volumes, as a result, have significantly slowed with forecasts predicting the may drop to the levels of the 2008 market. In the malls’ segment, groups such as Al Futtaim are putting in place a range of initiatives, including rent holidays and rent relief funds to help their tenants. However, with no clear indication from the government around when policies will be relaxed and the UAE economy re-opened, many businesses may require further support in order to weather this unprecedented storm.It is still unclear if there has been any significant change in property prices as transactional data and price discovery within the first quarter is still limited. If we look east to markets that are further along the curve of this pandemic, markets in Asia are beginning to lift restrictions. These markets have sustained a significant slow-down in market growth, they have also had to withstand second waves of viral outbreaks, Hong Kong and Singapore being the prime examples. However, as they look to re-start their real estate markets it is imperative that the UAE learns from the best-practices they establish and the mistakes they make over the coming weeks and months. The real estate market presents many challenges to restart safely; strong reliance on close contact between customers and professionals create challenges for remote-work and make the sector difficult to safeguard. The sector also relies on consumer confidence which as previous market shocks have demonstrated is difficult to overcome quickly. The UAE will learn from the protocols put in place in Asian markets as well as globally, where leading economies are creating “back-to-work” frameworks and protocols that are sector-specific. Looking forward, it is challenging to predict when regional and global markets will return to pre-virus levels, however, comparing to historic viruses such as SARS, we saw a “V” shaped recovery, with temporary and short-term impact. COVID 19 has had a much wider global impact, for example Asian markets rely heavily on buyers from the west, this global connectedness is likely to make the impact of this shock more sustained, so a “U” shaped recovery is more realistic, with some lasting economic effects. CRC has seen asset classes with high levels of social interaction hit the hardest, such as malls, retailers, restaurants and hotels. In contrast to this, sectors such as industrial and logistics facilities have been more resilient, where many consumers have continued to move to online shopping with the UAE government classifying many supply chains under these classes as “essential” to serve the public. We have also seen different approaches from investors within the market, many are looking to mitigate and consolidate risks in their existing portfolios, while those with cash available are seeking to capitalize on the drop in prices and making discounted investments. The majority of investors will look to survive the next 3 months and wait for real data to emerge on the true extent of the damage to the market, prior to making any acquisitions or disposals. It is also likely that landlords will see amendments to future lease terms, to cater for potential similar global shocks including future pandemics, with tenants becoming more savvy and negotiating for more lenient break clauses.       Once all restrictions on movement and work are lifted it is unlikely we will go back to the “old normal”, rather a “new normal” will define how we assess and occupy real estate. For example, many office occupiers previously opted for open plan environments and may now shift to contained areas, to separate staff. The UAE Government could review laws that outline the number of staff per sq.ft, the required distancing between desk space and air conditioning/airflow requirements, to name a few examples.  During this crisis, many businesses have also migrated to remote working and increasingly deployed technological solutions to empower their staff to work from home. These new approaches may better suit company operations and staff in many sectors, and in turn, this may lead companies to down-size, right-size or in some cases move to a fully remote model, this “physical” office may increasingly become part of the “old normal”. In the longer-term, co-working and flexible-working spaces could become more prevalent, albeit with new government policies place.For manufacturing and logistics, businesses disruptions to supply chains and businesses with reliance on international imports have seen inventory levels drop which has led to local sourcing. These newly built relationships may indicate potential deglobalisation of supply chains to mitigate risk and improve corporate responsibility in relation to sustainability. Robotics and automation may become more established, with more reliance upon e-commerce and reducing human interaction. This drive could result in larger e-commerce players to invest in upgrading and develop their existing facilities. For further information and insights from our Valuation and Investments teams please visit crcproperty.comOur Valuation department is still fully operational, offering valuations on a desktop basis subject to deferred inspections.     Joe Titchner MRICSHead of Valuations  

Legal experts largely agree that the new UAE Bankruptcy Law is an improvement on the previous law, but is it all good news for debtors and creditors?What is the UAE Bankruptcy Law?The Federal Decree Law No. 9 of 2016 (UAE Bankruptcy Law) provides a framework for companies in financial distress to avoid liquidation and protects employees, shareholders and directors of organisations going through court-led insolvencies. It contains 230 articles and primarily works to bring flexibility to those going through financial difficulty, providing more support for both debtors and creditors. Since its implementation on December 29th, 2016, it has removed the risk of facing legal prosecution and jail time, and special tribunals are no longer required for the insolvencies of large companies.Who does the UAE Bankruptcy Law affect?The UAE Bankruptcy Law applies to commercial companies, companies owned by the UAE or any Emirate’s government, individual traders and civil companies established in the UAE. It excludes companies established in the financial free zones and non-trader individuals, who will remain subject to the UAE Civil Code in the event of financial distress and who will therefore continue to be at risk of legal prosecution.What are the key changes implemented by the UAE Bankruptcy Law?The law is centred around the implementation of four new court-supervised procedures:The preventive compositionA process for solvent debtors who are facing financial difficulties. Only a debtor may apply for this and it should be initiated at the early stages of difficulty before insolvency, to protect the debtor and provide more time and support to fulfil the debt with the court’s supervision. The unsecured creditors must approve this within three years of the court’s approval and it may be extended by three years.The restructuring processFor an insolvent debtor facing financial difficulties that have led to failure to meet debts for 30 working days or more. This can be initiated by the debtor or by unsecured creditors who have issued a formal demand for a debt of Dh100,00 that is overdue by 30 working days or more. The debtor is allowed five years for restructuring the debts and this may be extended by three years.Insolvent liquidation processTo be initiated by the order of the court, for the debtor to cease commercial activity if the previous two options are unsuccessful or are not approved. The court will appoint an insolvency trustee or official to oversee the process and monetise the debtor’s assets.Financial restructuring of financial institutionsThis may be initiated following preventative composition or restructuring and includes safeguards for existing secured creditors.Accordingly, greater flexibility is available for debtors and creditors. For the first time courts can amend loan terms and debtors can apply for support from the court during financial difficulties, which can potentially provide three to six years of protection and support. The UAE Bankruptcy Law provides more options for debtors in the UAE and this in turn brings greater protection of the debtor’s business, and of the creditor’s assets.  It creates more security and predictability and can help to prevent financial problems from growing and becoming unmanageable whilst there is still potential to fulfil the debts owed. To encourage debtors to apply for rehabilitation when facing financial issues, the law states that once the court accepts the application, all other claims and proceedings are suspended until approval. This is to encourage restructuring finances rather than leaving the creditor without their owed debts, but it means that existing debts are suspended, bringing risk of alternative liability.What are the implications for debtors?The UAE Bankruptcy Law helps to support debtors’ businesses maintain viability and aims to protect them during a restructuring. It can also protect Directors and Managers from arrest or being forced to flee the country as a result of their company’s debt. However, it’s important to note that the removal of the criminal offence of bankruptcy does not remove the criminal offence of fraudulent bankruptcy or any breach of the Commercial Companies Law. It is clear that using the UAE Bankruptcy Law as protection from such a breach will render the individual exempt from protection. This will lead to the member being held personally accountable for the debts and damage.Criminal proceedings regarding bounced cheques are suspended once a preventive composition or restructuring process has begun, which can help debtors maintain viability, although misuse of this protection can be a fraudulent insolvency offence. The UAE Bankruptcy Law states that members involved in the liquidation of the company are accountable for a Dh1 million fine and up to five years in prison if found guilty of altering records to harm the creditors, embezzlement, acknowledging unpayable debts, deceiving the court in their application for any of the processes in the UAE Bankruptcy Law, or sharing false information about the capital.It is important to consider the time frames enforced for new processes in the UAE Bankruptcy Law. There are time frames for approvals, appeals, and initiating processes that must be observed to maintain protection. For example if the debtor does not apply for bankruptcy within the thirty working day window of failing repayment, the liability can shift to the members and Directors and can leave them personally liable for mismanagement. A preventive composition is not available to a debtor that has already entered into the procedure in the past year and cannot be used by a debtor for which bankruptcy proceedings have initiated, so both processes should be carefully considered. It appears the best advice is to be prepared, act quickly and seek help at the first signs of difficulty to maintain business integrity and protection from greater difficulty further down the line.For debtors, the UAE Bankruptcy Law provides some leeway, but does not relieve the requirement to fix the debts owed and depends upon the handling of the court and the court appointed officials as to how effective a strategy it can be. Applications require preparation and time to complete and therefore it is necessary to undertake a risk analysis and keep the preparation process in mind when considering the time frames. The plan for preventive composition must be effectively prepared as, once agreed and in process, failure to comply can result in the court ordering for bankruptcy or liquidation. In addition to this, the debtor must have funds to cover the cost of the procedure and approval is required from shareholders.What are the implications for creditors?The UAE Bankruptcy Law appears to offer a debtor-centric approach but creditors also benefit from more security and legal rights than before. Creditor initiated insolvency proceedings will be useful in protecting assets and the removal of the criminal offence and more options to debtors means more likelihood that debts will be cleared rather than absconded from. Research by the World Bank has shown that insolvency processes in other countries have up to nearly 60% higher recovery rates than the UAE, so this is a much needed improvement for UAE creditors. As a result, the UAE also becomes more attractive to international investors and businesses and benefits the economy as a whole.Secured creditors are prioritised by the UAE Bankruptcy Law, and again must consider enforced time frames. Secure creditors require court approval to claim against the trustee regarding their secure assets. The court’s decision will be published by the trustee, then creditors have a window of 20 working days to bring their claims. Following publication the debtor has 45 working days to submit an initial preventive composition plan for a vote of approval by unsecured creditors. This gives unsecured creditors an understanding of timings and proposed chances of success, but to vote their debts must be accepted by the court and a majority vote requires at least two thirds relating to the value of the debt. After this the unsecured creditors, regardless of whether they voted, are bound to the agreement. This process appears to favour larger investors and may encourage more investment, but could discourage smaller investors from becoming involved initially.Whilst the debtor continues to run the business, the court-appointed trustee has rights to act for the debtor to preserve the assets needed to complete the process. Any activity that could impact the position of secured creditors must be approved by the court and the court may order for liquidation of the debtor’s assets if they do not comply with the agreed terms of the preventive composition.In summary, the law provides much more transparency and more confidence and predictability for creditors.Outlook and future developmentsThe UAE Bankruptcy Law aims to improve the business environment and economy by offering debtors more opportunity to resolve debt without facing liquidation and prison. Investors can invest more knowledgeably and confidently, and those seeking investment will have better access and support to avoid liquidation. This should influence a further rise in investments and business growth in the UAE, particularly for entrepreneurs and SMEs.Further encouragement to debtors to seek support early on in their financial decline may help to prevent bankruptcy, however, it does not necessarily stop debtors fleeing the country to escape criminal sentencing in fraudulent cases. This also relies on debtors being financially aware and knowing their rights early on in, or before their decline.Whilst greater co-operation is possible between debtor and creditors, the processes are managed by courts and court appointed officials. Given its recent implementation, it is too early to know how successfully issues will be managed which creates uncertainty. It will work on a case by case basis and relies on there being an experienced talent pool with knowledge of the relevant industries. Experience and understanding of the issues and outcomes will come with time and there is no doubt opportunity for the law to evolve. Larger more structurally diverse companies may complicate the process and we are yet to see how these instances will pan out, but the new law looks like a step in the direction of a smoother, slicker business environment with more international appeal.  

In response to the ever-growing commercial market in Dubai and increased number of inquiries, in 2018, Better Homes’ management decided to make a strategic decision to grow the commercial brokerage department and become the biggest commercial team in the Dubai market; We have successfully recruited, trained and built on our diverse team which has led to many success stories and a significant increase in the number of transactions since 2018.In order to better serve our customers and purely focus on the commercial property sector, the next strategic move was to give the commercial department its own identity, brand, and space to grow. Better Homes commercial was re-branded to CRC (Commercial Real Estate Consultants) and launched in July 2019. We are now in the process of setting additional value adding services to CRC and to become a comprehensive solution provide within the commercial property sector.Since the news of the CRC launch and its ambitious vision, we have attracted some of the most talented and experienced individuals within the commercial sector and many of them will become a pivotal part of our future success. We will continue to invest in the CRC brand and will grow it over the next year and we aim to launch our consultancy divisions by Q2 2020.Ben Bargh CRC Director