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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. 

We know owning a property provides great security for the future, but it’s not without its risks and responsibilities. From arranging legal documents, handling property disputes, transferring land titles to even buying and selling property, there are many stages of the process that can only be handled by a professional property lawyer. If you’re new to the property market or just not sure what exactly to look for when it comes to finding the right property lawyer, we’re here to help! Below we have outlined the top property lawyers in Dubai for 2022. Al Safar & Partners  Having been around for almost 40 years, Al Safar & Partners are widely known and respected as one of the top law firms in the city. Property or Real Estate is actually their top performing department and they’ve handled 2,600+ cases involving property in the past decade.  One of the advantages of this firm is that their team of lawyers and legal consultants comprises those who are also members of the bar in countries outside of the UAE, such as the UK and European countries. This is a huge benefit if you have or are looking to obtain property outside of the UAE as you will be able to find a lawyer who is knowledgeable in both private international law and the property laws of other countries. Al Safar & Partners offer a free 30 minute consultation to new clients, which you won’t find in many other organisations. So if you are looking for a property lawyer in Dubai, we recommend taking advantage of this offer and consulting with one of their professionals.  Read Al Safar & Partners google reviews here. HSS Lawyers  HSS Lawyers is a full service law firm offering services for property, family law, labour law and corporate law. With over 30 years experience, HSS Lawyers have become one of the most trusted law firms in the UAE and have successfully handled more than 1,000 cases. With many awards under their belt, HSS Lawyers are best known for their work on boundary disputes. The firms dispute attorneys’ cases involve the replacement or removal of boundaries, professional negligence of property solicitors, and inaccuracies in legal documents. Plus, one of the biggest advantages to HSS Lawyers is that they have offices in Dubai, Abu Dhabi and Sharjah, which makes it easier to provide legal services to those with properties spread across the UAE.  Read HSS Lawyers google reviews here. RAALC Comprised of 3 of the top legal companies, Sughra Salem Bin Sarm Partners, Abd Alaziz Al Khemeiri Advocates, and RAALC Consultancy who came together in 2013. Property law is one of the firm’s areas of expertise and most cases they’ve handled over the years involve multinational construction companies and developers.  One advantage of this legal firm is that they usually dedicate a full team to your case, rather than just one lawyer. They’re also one of the easiest firms to get in touch with, offering a web chat service that allows you to chat with a legal assistant instantly, or in busy periods, you can schedule a call or request a call back through the same service.  RAALC has offices in Dubai, Sharjah and Ras Al Khaimah, although they are yet to expand their services to other countries, which is probably one of the only cons setting this firm aside from its competitors. Read RAALC google reviews here. Ibrahim Khouri Advocates & Legal Consultants With over 12 years of experience, Khouri Law Firm deals with both international and domestic clients with services such as family law, criminal law, corporate law and property law. For property law in particular, many residents approach Khouri Law for assistance with real estate disputes. If you have an issue with rental disputes in particular, whether it be an increase of rent or getting your deposit back, this firm has extensive experience in dealing with these types of cases. Similar for landlords dealing with property issues regarding tenants, Khouri Law will be able to assist quickly and easily, as it’s something they provide on a regular basis. An advantage to this law firm is that many of their advocates speak multiple languages, including Arabic, English, Russian and Hindi, which will come in extremely useful when liaising with others of various nationalities. Read Ibrahim Khouri Advocates & Legal Consultants google reviews here. Al Reyami Advocated and Muhyealdeen International Legal Consultants Established over 18 years ago, Al Reyami & Muhyealdeen has an extensive list of practice areas including, banking law, corporate law and labour law and the firm’s advocates take on both civil and criminal matters.  The firm holds a 97% case success rate amounting to over AED 20 million of judgement claims, which is pretty impressive. Plus with some of their lawyers being active in a number of landmark cases involving property, property law is deemed to be one of the firm’s best assets.  Similar to their competitors, one of their main strengths is the diversity of the team, with most of their lawyers practising both local and international law. The firm also has offices in other major cities around the world, including New York, Moscow and Istanbul.  Read Al Reyami Advocated and Muhyealdeen International Legal Consultants google reviews here. Remember, when making an important decision like this one, its important to conduct your own in depth research to ensure you make the right decision that fits your circumstances. Although we do hope our list helped you narrow down your search! If you are interested in buying or renting commercial property in Dubai, get in touch with one of our agents today to find out more about our services.  At CRC we also have a dedicated valuations team, providing valuations for commercial and residential properties as well as business machinery and assets. You can find out more about our valuation services, or fill out our contact form here.

Dubai is one of the world’s most enticing expat locations. The warm weather, high standard of living, and low crime rate are just a few of the reasons why it has been dubbed one of the best cities in the world to live in. Plus, Dubai’s economy just keeps on growing, making the wealthy city a number one choice for those looking to enhance their career. The economic success of Dubai has even prompted many expats, business owners and retirees to buy properties instead of renting. This is a useful investment strategy which helps achieve some capital gains over time as their Dubai properties increase in value. However, as always, there are some risks associated with buying a property in a foreign country. Below we’ll share some information about buying property in Dubai and the risks associated with it. Is it easy to buy property in Dubai? Over the past 20 years, the United Arab Emirates (UAE) has become much more welcoming to forign investment. A variety of platforms have even been launched which are designed to encourage foreigners to invest in the country through starting a business or buying property.  The government have also been particularly proactive when it comes to assisting retirees, they even launched a programme in 2020 called Retire In Dubai. Benefits if buying a property in Dubai  Below are some of the benefits that come with purchasing a property in Dubai: Safe and stable country  Dubai has recently been named the safest city in the world (for women in particular) which makes it a great location to invest in a property for you, your family or your business. Reasonably priced real estate I know what you’re thinking, the UAE is one of the wealthiest nations in the world, right? Right! But surprisingly, it is still possible to find reasonably priced properties in Dubai, as opposed to other popular cities like Los Angeles.  Excellent rental yields One of the reasons Dubai is so popular with retirees, is the fact that rental yields can be extremely high. Investors have been known to achieve as much as 12% rental yield from property investments. Long term capital growth  The UAE economy is anticipated to keep on growing through to 2030 which means property prices are likely to increase. Although it is important to check the current condition of the market with a financial advisor before investing.  Is it safe to buy a property in Dubai? No matter where you are in the world, buying a property is a significant financial decision, so caution is always advised. We recommend consulting with experienced financial and property experts to ensure you have the most up to date information relevant to your location and circumstances.  Although generally speaking, it is relatively safe to buy a property in Dubai. However, the laws are slightly different in Dubai as opposed to other countries, which means running into a legal issue when buying or selling a property may lead to difficulties. To avoid these types of situations, it is important to always be diligent in your negotiations and consult with a lawyer to oversee any legal transactions. The Cost of investing in Real Estate in Dubai  The price of properties in Dubai have fluctuated over the years. However, the current price of Townhouses & Villas for sale in Dubai range from 1.5M to 16M and Apartments from 280K to 2.9M. Top Villa communities include:  Palm Jumeirah Jumeirah Island Jumeirah Golf EstatesEmirates Living Top Apartment communities include:  City WalkPalm Jumeirah Dubai Festival City Dubai Creek Harbour  Additional Fees Although the initial Sale price may be within budget, it’s important to note that there are some additional costs associated with buying a property in Dubai and these include Government, Mortgage and Agency fees.  The Risks  There are many success stories that have come from investing in property in Dubai. However, there can be some risks involved which you should be aware of, these include: Real Estate scams  Although Rare, some expats have fallen victim to scams from those posing as real estate agents. You can avoid this by performing background checks and hiring a good legal team to manage your transactions.  Choosing the wrong neighbourhood Although many parts of Dubai are extremely nice, there are some communities that lack relevant amenities that buyers, renters or businesses will prefer. Avoid this by making sure you have conducted relevant research into the right neighbourhood to fit your circumstances.  Choosing an area with lower rental yields Receiving excellent rental yield is one of the best reasons to invest in property in Dubai. It’s possible to gain 7% for a villa and as much as 12% on an apartment. Although, this isn’t true for some parts of the city so make sure you do your research to learn the parts of the city that are best for this.  The UAE economy may decline  Like any economy, there is always a risk of decline, however the UAE government is aware of any risks for the future and are taking action to promote sectors that will ensure their economy continues to grow.  Overall, there are both benefits and risks involved with investing in property in Dubai. The surest way to succeed is to ensure you complete in depth research and work with trusted professionals. If you are interested in purchasing a commercial property in Dubai or Abu Dhabi, get in touch with one of our trusted agents today. They can help you every step of the way, ensuring a smooth, stress-free process and guaranteed professional support.

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.

The commercial real estate market is bouncing back  Dubai’s commercial property market is reaching new highs as we head into 2022. According to our recently released commercial property market report for 2021, the total number of transactions alone are up by 19% over 2020, with the total value of units sold reaching almost 30.88 billion. Download Report The report reveals that demand in the market is growing increasingly stronger and prices for both sales and leasing are on the rise. After the industry saw numbers hit an all time low in 2020, we’ve seen the market make an almost complete recovery in 2021. As the market continues to bounce back, and confidence grows among investors, business owners and entrepreneurs, all optimistic about the future of their ever growing companies. Dubai is becoming even more attractive than before, for those seeking an open environment with minimum restrictions to conduct their business operations. Based on this year’s findings, the growth in the commercial property market is anticipated to continue through to 2022 and beyond. Here are the headline statistics from the report: COMMERCIAL SALES  The number of total sales transactions is up 19% from 2020, with prices increasing in sales and leasing. This trend is set to continue; as the economy and businesses continue to expand.  The number of offices sold in 2021 increased by 101%, totalling AED 1.99 billion. The demand for office and retail spaces has steadily increased, with CRC recording a 1% and 3% increase. With increased investments in the warehouse sector, CRC achieved a tremendous growth of new registered buyers, which does not necessarily reflect the Dubai market as a whole.  COMMERCIAL LEASING According to CRC data, the average number of leasing transactions is up 15% from 2020, with the highest increase in the retail sector, which is up 126%. The overall number of registered tenant leads increased by 58% compared to the same period last year. In line with recorded leasing transactions, the number of registered tenants in retail is leading the way with a 111% increase, followed by a 60% increase for warehouses and a 47% increase for offices. After the astounding level of uncertainty in 2020, the trust in the market bounced back in 2021, with a significant number of commercial tenants trying to lock down long term leases of 2-3 years at lower rental values. As a result, CRC recorded a 7% increase in payments with one cheque. For more insight into the 2021 commercial real estate market, take a look at our full report. Download Report

One question that we get asked is; ‘what is the role of a Chartered Surveyor, and why do I need one to conduct an official valuation?’. This is an important question to ask because if you are required to present an official valuation report, it will typically only be accepted if it has been carried out by a qualified professional, or in other words, a Chartered Surveyor.  What is a Chartered Surveyor? A Chartered Surveyor, broadly speaking, is an individual who is qualified by the Royal Institution of Chartered Surveyors (RICS), whose job relates to land, property and construction. In truth, a Chartered Surveyor role can cover a variety of disciplines, one of these is property valuations. Before explaining the role of a surveyor within this job, one should ask, what is a property valuation?  What is a property valuation? In most cases, the client requires to understand the Market Value of the property. A property valuation is an assessment of a property’s value that considers a range of factors, taking into account typical characteristics like size, layout, specification, condition and location. This will then be compiled into a comprehensive, detailed report which would state the Market Value. It is also important to state this report will tend to exclude non-permanent property features such as furniture.  What is the role of a Chartered Surveyor? So what exactly is the role of a Chartered Surveyor? In order to carry out valuations of real estate in a jurisdiction, the surveyor must also be a Registered Valuer. This is important because it provides confidence to the clients that the job is being carried out in accordance with the set standards. A Registered Valuer will usually work with trainee valuers who are overseen by a qualified person. The role of the valuer is to provide an unbiased and independent valuation for their clients, whilst adhering to the standards. What is the process of a property valuation? Conflict of interest check and due diligence When a client instructs a Chartered Surveyor/Valuer to conduct a valuation, the first step is a conflict of interest check. If there is no conflict, then the valuer can begin the due diligence. Before a visual inspection can take place, the valuer will research the area in which the property is located and note down aspects that would influence the value of the property. This would include the local geography, proximity to amenities, and transport links, to name a few.  Information collection The valuer should receive property information from the client, prior to visiting the property. Information that should be supplied to the valuer depends on the type of property, but generally includes floor plans, Title Deed, lease terms, and occupancy status. Online databases which use the latest technology and data would also be utilised, providing details of nearby properties such as recent sales and leases. The above work would form the basis of a desktop valuation.  Visual and desktop inspection of the property  A full visual inspection is the suggested inspection method in order for the valuer to gather the most information possible, however, in certain circumstances, there are different ways an inspection can be conducted. A desktop valuation, which will be conducted without the valuer visiting the property, a drive by valuation, in which the exterior of the property is inspected, a partial visual inspection, whereby certain elements of the property will be inspected internally, and lastly, a full visual inspection, where the property is inspected by a valuer from both internally and externally.  What are the factors impacting a valuation? During an inspection, the valuer will check that the information provided matches the actual property and check the condition of the property. Site notes and photographs will be taken for others in the team to check. A valuer will look for potential defects of the property, such as damp, cracks and other damages. Any renovations/upgrades that have taken place will also be considered. The duration of an inspection will vary depending on the size of the property. Aside from the property itself, there are other factors such as geography, the local environment must be addressed. This may include whether it is in a danger zone (i.e. is it on a flood plain) noise levels, or if it is in close proximity to busy streets, or above a shop. Community and/or building amenities and facilities are also considered e.g shopping centers, parks, gymnasium, swimming pools. The next stage is to evaluate all of the data and information obtained, as well as use their own extensive market knowledge of the area. Based on all of the findings and data obtained, the Chartered Surveyor will then create a detailed comprehensive report detailing the findings, along with the valuation.  Can I get an appraisal instead of a valuation?  Can I just get an appraisal instead of a valuation? This depends on the purpose of enquiring about the Market Value of the property. It is worth pointing out that a property valuation is different to a market appraisal. An appraisal is simply an approximation or an opinion of a value, often given by a real estate broker. An appraisal cannot be relied upon by a third party such as a bank or insurer.  A valuation report by a RICS Chartered Surveyor on the other hand is the result of detailed empirical evidence and research conducted by a qualified and experienced professional, which can be relied upon. It is for this reason that if you require a valuation for specific purposes, such as taxation, auditing or mortgage purposes, a valuation report is required to be conducted by a Registered Valuer.  If you require an independent valuation report for a residential, commercial or industrial property, CRC has a team of highly qualified Chartered Surveyors on hand. For more information, contact us today to book a meeting.  

It was announced last week that the UAE would be making some major changes to the country’s existing workweek. One of the big changes is that the government and education sectors in Sharjah would be transitioning from a 5 day week to a 4 day week, whilst the rest of the UAE would be transitioning to a 4 and a half day week, the first country in the world to do so. The second major change would be the realigning of the UAE work week with that of other countries worldwide, with a transition from Sunday to Thursday, to Monday to Friday, the first country in the Gulf region to line up the work week with the rest of the world.  This change came about in order to align the UAE with international markets and ensure its status on the global economic map. The new work week will enable greater ease in regard to financial and trade transactions with countries around the world that follow the more popular Monday to Thursday workweek. In doing so, it will consolidate and strengthen both existing and new relationships with international businesses, which in turn will allow business within the country to further flourish.  The banking sector will be one sector in particular that will benefit massively. Until now, companies would have to get all communications and work completed on Thursday and then have to wait until Monday until communications could resume. The new change will allow the financial industries to collaborate and work closely together with real-time trading and communications with international markets. As such, these new changes align with the UAE’s overall vision of encouraging the country’s economic growth as well as strengthening ties with international trading partners.  Whilst this new resolution by the government to change to a Monday to Friday workweek will surely benefit the country massively, perhaps the most interesting change is the transition to a shorter week. As of now, it is only government and educational institutions that will be shortening their week, although the new change may encourage companies in the private sector to do the same. It will also be interesting to see if the rest of the country will follow Sharjah’s lead, shortening the week further and implementing a 4 day week as well. One question that many of these companies may be asking, is what are the benefits of having a short week. So what are the benefits of a 4 day week?   Studies have shown that a four day week benefits both employers and employees.There are many key benefits that can be gained from companies taking on a 4 day work week. For one, it will decrease general operating costs of the office, as the work week will be shorter. It will also reduce worker burnout, and allow for improved employee morale and retention. The desirability of a shorter workweek will also allow for a larger applicant pool for open positions, which will mean companies will be able to afford better talent.  To start with, shorter workweeks have been demonstrated to allow employees to have a better, healthier work-life balance which improves productivity throughout the workforce.  Whilst it might seem counterintuitive that decreased working hours actually increases productivity, there is solid reasoning behind it. For a start, shorter working weeks decrease worker burnout, allowing employees to refresh and renew their energy properly before the start of each week.  In moving towards a shorter workweek, it also necessitates a different mindset and approach in how we look at work. Rather than focusing on the number of hours worked, the focus is shifted towards a results-oriented approach. This type of mindset will enable workers to be more efficient with their time, overall increasing the productivity of the workforce.  With that being said, the 4-day workforce that was introduced is a lot more than about increasing productivity. It is about ensuring happier employees, who have a better work-life balance. In having longer weekends, workers can spend more time with their friends and families, work on personal development, as well as have more time for themselves in general.  This focus on employee well being by the UAE government will only increase the country’s desirability to live and work, allowing it to retain and gain talent within the workforce from around the world. As the UAE becomes an increasingly attractive destination for families to live and work, it will stimulate the economy and produce more business.  These unprecedented developments to the country are in no doubt a reflection of the country’s aim of encouraging a thriving economy, whilst ensuring a good quality of life and healthy work-life balance for all of the people living within the country. These strides will surely encourage more people to consider moving to the country, as well as attract global businesses to conduct new business. To stay updated on any changes in Dubai’s business environment, make sure to subscribe to our emailing list.

Jumeirah Lake Towers is known for its many commercial buildings and office spaces, which has become a popular place of work for many businesses in Dubai. A place of work is more than a piece of real estate. It is a living environment that helps individuals and businesses create and experience a rewarding fusion of life and work. Jumeirah Lakes Towers, popularly known as JLT, is a thriving residential and commercial community in the heart of New Dubai and one that is a great destination to live, work and play. Conveniently located off Sheikh Zayed Road and positioned between Damac Properties and DMCC metro stations, JLT provides easy access throughout Dubai’s other key business corridors such as Jebel Ali and Sheikh Zayed Road and popular business hubs such as Dubai Media City and Dubai Internet City.  Comprising 64 residential, commercial, and mixed-use towers, Jumeirah Lake Towers offers an inspiring work environment with its man-made lakes, parks, and landscaped spaces. While the residential towers make up 45 percent of JLT, 21 percent is dedicated to commercial office use, hotels, restaurants while and retail outlets make up 34 percent. The area mostly consists of high-rise towers offering a wide range of commercial properties for sale and rent. The 66-storeyed centerpiece, the striking and unmissable Almas Tower, is the tallest commercial building in the Middle East and serves as the centerpiece of the community. Furthermore, JLT is a Free Zone providing business owners with the applicable free-zone business license, a large variety of office options, and access to government and customer services from Dubai Multi Commodities Centre Authority.  In terms of lifestyle offerings, there are a plethora of restaurants, cafes, convenience stores, boutiques, hotels and leisure outlets spread across the area. The lakefront area provides a perfect setting to unwind and serene ambience to relax with a leisurely walk or a team lunch. The Lakes provide the perfect setting for those who love the outdoors with wide walking, jogging and cycling paths, as well as restaurants and cafés.  Some of the popular commercial buildings in JLT include Jumeirah Business Centre, Mazaya Business Avenues, Indigo Icon, Tiffany Tower and Goldcrest Executive and come equipped with round the clock security, well-designed spaces, modern interiors, high-speed elevators, car parking spaces, splendid views of the Montgomery Golf Course and the lakes, community pools, recreation decks and an eclectic range of eateries and restaurants for when you need a break from a hectic workday. Featuring spectacular waterfront views, a diverse set of leisure options along with multi-purpose facilities and amenities, JLT has grown to be one of the most popular neighborhoods in Dubai and the number one choice for business owners and residents looking for a community where they can live and work. If you are a business owner who is looking to capitalize on the thriving business environment JLT has to offer, let’s get started! Get in touch to select from a host of JLT commercial properties furnished with the latest amenities and infrastructure that will seamlessly suit your business needs. Search here or contact us to begin your journey.

The long-awaited Expo 2020 is finally here and has been the talk of the town for over a decade, yet despite only being 2 months into the event, it has already made a big impact, so will real estate in Dubai witness a boom after EXPO 2020?   The event is major in that it will be the first global mega-event to be held since the onset of the Coronavirus pandemic, allowing physical entry of visitors. Dubai has one of the highest vaccination rates globally, with more than 78% of the total population being completely vaccinated. The government’s swift and decisive action throughout this period, as well as the extremely efficient rollout of the vaccine, has allowed the country to regain some semblance of normality. The country has therefore been able to recover quickly and be able to welcome tourists into the country with open arms (albeit socially distanced). The event is expected to bring in over 25 million visitors and bring over AED 122 billion dirhams into the UAE economy. Already we are already starting to see the effect of the Expo on the local real estate market, with October, the first month of the world event, seeing the best October in recent history with a record AED13.2 billion worth of sales transactions.   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, something that is only expected to grow as the event is expected to drive international demand. As such, it is expected to open the doors to hundreds of new businesses and investors into the city.  There has been a big growth in terms of the industrial and logistics sector. The location of Expo 2020 has field demand for warehouses and other industrial facilities in and around the area, including Dubai Investment Park and Dubai South. With new businesses expected to enter into this area, the demand and value of these areas is anticipated to grow even further.  With these new businesses expected to expand to Dubai, they will need to find commercial spaces in which to operate. Demand for commercial real estate right now is focused on high-end, well-built units that are also environmentally friendly. Developers would be wise to keep this in mind, whilst also offering spaces that are flexible and allow for tenants and buyers alike to adapt their spaces to their individual needs. Sustainability has been a core value of Expo 2020. It is therefore only natural that there will be a renewed focus on promoting and developing environmentally friendly developments, something which property developers should prioritize.  The future of real estate is green The site of Expo 2020 is already home to 121 LEED buildings, 12 of which have been certified platinum, the highest grade denoted in terms of environmental sustainability. These buildings have been certified as such due to the fact they have been constructed using environmentally sensitive materials, have low carbon impact, have better air quality, and have vastly reduced energy and water consumption. This move towards creating a sustainable urban environment is a trend that will most definitely continue on into the near future, especially with more companies developing a CSR ethos and aiming to be environmentally sustainable. However, this trend is not just limited to commercial property. Multiple countries have showcased in their pavilions the ability to bring environmentally sustainable practices into homes, especially in regards to construction, including Austria, Spain, and the Netherlands. These new technologies will prove fundamental in modern urban planning. UAE based developers should therefore be further encouraged to adopt these more environmentally friendly practices when looking at the bigger picture of the future of Dubai.  The surge in demand for residential investments With such a large number of tourists visiting Dubai due to the expo, it is anticipated that there will be a large influx of investors in the residential real estate market. 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. Overall, government officials have expressed their hopes that one in 20 visitors to the expo would decide to reside in Dubai permanently.  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 by Betterhomes, the sister company of CRC, whose agent Hannah Pratap, secured the biggest leasing deal in the history of Dubai. Developers had clearly anticipated this demand, with new luxury developments being built within close proximity to Expo 2020.  New up-and-coming neighbourhoods  Upgraded and new infrastructure has allowed investment into the areas surrounding the Expo 2020 site, which has meant residing in the outer parts of Dubai a more viable option.There has been massive development of new residential areas, as well as the extension of the metro, and plans for further infrastructure including malls and other leisure facilities.The Dubai Expo site and surrounding areas have been incorporated into Dubai 2040 Urban Master Plan, which will see large-scale changes to the city’s developed areas.  So, what will happen next? Will the real estate in Dubai witness a boom after EXPO 2020? Well, in a nutshell, Expo 2020 is just the beginning of Dubai’s new future. This global event is expected to kickstart business development and encourage foreign investment into the country, which will allow the country to further diversify its economy and create a thriving, attractive place to both live and work. 

Over the past few years, Dubai has made extensive reforms to its immigration policies, introducing new types of visas. These new visas commonly referred to as ‘Golden Visa’s allow individuals who have made significant economic investments into the country to live in Dubai for a certain number of years. This includes owning or purchasing real estate. The aim of these new visa categories and long term residency programmes is to develop business in the region, as well as to attract and retain new talent and high net worth individuals into the city.  So who is eligible for these visas. Well, all non-citizens who own at least one property that has a value of at least AED 1 million are able to apply. Whilst the property can be mortgaged, it can only be a maximum of 50% of the property value. Individuals who jointly own property are eligible to apply also on the condition that each individual share is worth at least  AED 1 million.  Retirement visa  If you wish to retire to the UAE, you may be eligible to apply for the UAE’s retirement visa. To be eligible for this visa, applicants must be over 55 years old and have either AED 1 million invested in property;  a bank deposit of no less than Dh1m; or an active annual income of at least Dh180,000. Lasting 5 years, the visa can be renewed, providing the investments are maintained.  Are there conditions on what type of property qualifies?  In short, yes. In order to qualify for the visa, the property must meet certain criteria. For one, the investment must be into residential property and not commercial property. What’s more the property must only be freehold. Freehold properties, (as opposed to non-free hold/leasehold properties), allows buyers to own the land their property is built on. In the UAE, non GCC residents are unable to purchase non-freehold properties.  It is also not possible to apply for this visa if your property is purchased off-plan. Off-plan refers to when individuals purchase a property directly from the developer before its construction is complete. Whilst they can be an attractive option, as they are typically sold at a lower rate than properties on the secondary market, it will not grant you eligibility for a golden visa.  How long does the visa last?  The validity of the visa is dependent on the amount of investment. Essentially, the more you invest, the longer you can stay in Dubai. As mentioned above, the retirement visa lasts for 5 years and can be renewed. For the golden visas, if you invest AED 1 million, the visa lasts for 3 years. If an investment of AED 5 million or more is made, then the visa will last for 5 years. Irrespective of the investment amount,  providing the individual maintains their investment, individuals will maintain their eligibility and the visa can be renewed. If in the event, the investment either decreases in value or the applicant are unable to keep the investment, the renewal of the visa will be evaluated on a case by case basis.  What can AED 1 million buy? If you are planning to settle in Dubai with your family, then the city is home to some beautiful villas . With a budget of AED1 million, you can find 2-3 bedroom villas in one of Dubai’s villa comunities.  These communities tend to have lovely amenities, such as pools, parks, and gyms. . If you are looking for something smaller, or closer to the main hubs of Dubai, The Marina and Downtown Dubai are home to some gorgeous apartments. An AED 1 million budget will allow you to buy a spacious apartment in one of Dubai’s more prestigious towers. With so many options in Dubai, it would be advised to go to an experienced real estate brokerage who will be able to help you find the perfect home that will fulfil the requirements for you to get a golden visa. Determining the value of your property Some applicants may already own a property in Dubai. So how do you know if the property fits the requirements to grant the owners eligibility for the Golden Visa? Providing the property is in a freehold area, the primary concern would be the value of the property. Whilst many estate agencies will offer free appraisals, this may not be reflective of the true value of the property. Instead, it may just be a reflection of the current market sentiment and conditions. As such, it is recommended to go to a RICS accredited and highly experienced surveyor. They will be able to perform a full inspection and provide a detailed and comprehensive valuation report. This will allow the homeowners to correctly identify the value of their property, and if it meets the minimum investment requirement of AED 1 million.  For more information about purchasing or valuing a property book a meeting with an experienced estate agent, or one of our valuation specialists.

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.