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Over the past few years, we witnessed healthy growth in the industrial real estate sector—warehouses, distribution centers, flex spaces, and other industrial buildings with storage facilities in Dubai. Year-over-year (YOY) rent growth has been positive and the availability rate has continued to decline.Property prices in the UAE will continue to grow in 2023, driven by supportive economic restructurings and an effective vaccination program that has brought hastened improvement from the coronavirus stricken slowdown last year.Over the next 10 years, Environmental, Social, and Governance (ESG) standards will have an impact on investor property investment and purchasing decisions in the GCC, according to a report by Mashreq, the Dubai lender controlled by Al Ghurair.According to CRC data, with 88% growth, the warehouse sector embellishes with the highest increase in commercial leasing in Q1 2022 over Q1 2021. The overall number of leasing transactions is up 7%. This is due to the increase in the stock that equals the demand for bigger storage spaces. The businesses in Dubai have no choice but to seek bigger warehouses for their expansions.Industrial Properties in the UAE will attract more investor demand, while the residential market will also see substantial growth. On the other hand, quality warehouses for the e-commerce industry continue to fuel demand considering the Middle East one of the most competitive markets for online shopping.This has proven to be a significant reason for the demand for warehouses, distribution sites, and fulfillment centers that support the fastest delivery shipping systems. Newly build facilities for warehouse rents, constructed to international standard, primarily located in free zones, ranged from AED 35 per sq. ft. per year during 2020.A number of small and medium enterprises are now seeking annual lease contracts and yearly rental escalation in comparison to three or five-year terms for their industrial units due to the constrained business environment during 2020.Along with that, many multinational occupiers are gradually finding asset-light models, thus presenting more excellent opportunities to participate in the industrial market through sale and leaseback structures, among others.Key TakeawaysThe requirement for storage and fulfillment centers has increased thus boosting the demand for warehouses in the region. Many retailers have swiftly adopted the digitalization and online sales trends after they posed challenges of lower spending and fewer shoppers in brick and mortar.The main drivers for these regional and global occupiers entering or expanding more in the UAE are the country’s efficient management of Covid-19, vigorous infrastructure, and ease of doing business. The rise in online sales in the past months has also played a vital role in businesses investing more and expanding to cater to sales trends.According to CRC, they recorded an increase of 32% in registered tenant leads as compared to the same period the previous year. The staggering 128% increase in demand for warehouses is also an indication of how the companies showed interest in industrial properties. The top reason for the demand for commercial properties is because the business that downsized during the pandemic started to get back to bigger office spaces. Changes in purchase patterns during the pandemic also pushed companies to expand their warehouses to meet the demand.Get in touch with CRC for your commercial or industrial property requirements in the country and receive professional help for buying, selling, leasing, or investing. CRC is the leader in Commercial and Industrial properties in the UAE.   

One of the undeniable truths is that the UAE is the most frequent area for business. You must have heard that the UAE is the main business hub globally. Thus all the investors and business personnel have the intention to start and run a business in this country. Although all the businesses eventually grab the increase and have had a good chance to take the business at its highest level.Starting a business is not a substantial issue, but running it and taking your business to a peak level is. Business expansions requirements take the business individual to the stage where they have to make some crucial decisions. If you are planning to expand your business or thinking of setting up a business that needs a store, packing or assembling some items, keeping stock, or any other type. In that case, you are in need of a warehouse.In this blog, you will find all the information you need to know before renting a warehouse, including the best area to rent warehouses in Abu Dhabi. Importance Of WarehousesThe concept of warehouses has been around for a long time! It’s helpful and fulfills various requirements of businesses. Thus, goods can be processed at the time when the demand arises. However, monitoring and tracking the finished goods, stored material, and stock items are easiest. Well, if you want to avail this opportunity, then you need to rent a warehouse in Abu Dhabi.Furthermore, having a warehouse in a perfect location will help you receive goods from the suppliers, store them and distribute them to the market or another company. Without any doubt, it can save both money and time. Another greatness is a warehouse is an ultimate solution for secure stocking. The product is available whenever a customer offers a product, and you can proceed with it timely without facing any hurdles. What Type of Areas are Perfect to Rent WarehousesSelecting the right location for the warehouse, even leasing, buying, or renting, is critical because it can create major differences to make your business efficient, effective, and profitable. By choosing a perfect place for warehousing, you can give your customers an outstanding experience; you will always be able to efficiently provide the demand on time.Right skill at the right price for the workforce should always be a significant point. Another thing is warehouses should be near roads, highways, railway stations, airports, and seaports (depending on the business type). Considering the above point will help prevent wastage of time, money, damages, and enormous fuel consumption.In short, a warehouse should be closer to the major buying companies, suppliers, producers, or/and customers. In this way, by choosing the right place according to your business’s needs, you will get prosperity by decreasing the transportation cost and reducing fuel and time consumption. Best Areas to Rent Warehouses in Abu DhabiAcquiring a warehouse on rent in the prime location of UAE can take your business to a higher level than was a dream before reaching that height. KIZADOne of the most reliable and biggest free zone areas in Abu Dhabi is KIZAD (Khalifa Industrial Abu Dhabi). They offer trading licences, industrial, logistics, and services activities at a remarkably lower fee. KIZAD is the most recommended area for investors because of its cost-effective fees structure and incredibly susceptible business access and activities. Hance KIZAD is the 1st choice for the investors who come from worldwide.The KIZAD is ideal for renting a warehouse because it is located halfway between Dubai & Abu Dhabi, two main market centres with the existing infrastructure of business and industries. Moreover, KIZAD is innately combined with Khalifa Port. It is the one that is the most advanced deep seaport and the number one semi-automated port. Having a warehouse at such a location will keep you connected with the main markets through land and sea. Because more than 20 shipping lines operate at this seaport, they will connect with 60-plus port areas. Al QuozAnother best area in Abu Dhabi to rent an industrial and commercial Warehouse is the Al Quoz. It is a place that is popular for its wonderful location. Al Quoz is the biggest industrial zone in the city and the oldest one. The great area of Al Quoz is highly recommended because of its location as it joints directly to the highways. It is a unique and creative industrial zone that encourages talented business personnel to expand their business by taking a warehouse for rent at a prime location.Those individuals are planning to acquire a warehouse at Al Quoz stand on the mouth to avail remarkable commercial & industrial facilities. Another amazing truth is that the warehouse in Dubai’s Al Quoz area is available in different sizes. Also come along with the already built washrooms, offices, and parking areas. These warehouses are the best because they are built to secure the goods stock safely. Dubai’s Al Quoz ispopular for its remarkable automobile services Centre, handicrafts shops, and art galleries. This place is the perfect one to rent a warehouse for those businesses which need to make a stock or particular goods or raw materials that can be released anytime when receiving a demand. Dubai Investment ParkAn incredible place in the list of most beneficial warehousing areas to rent is the Dubai Investment Park. It is a place that can keep you connected with the main highways, such as Sheikh Mohammed Bin Zayed Road. The enormous warehousing facilities of Dubai Investment Park can be acquired at the best price.This location is ideal for manufacturing goods, assembling the items, and keeping stock or store of the finished goods or raw materials to proceed when the right time. The easiest access to Al Maktoum International Airport, Jebel Ali port, Emirates Road, and the Sheikh Mohammed Bin Zayed Road makes it a great area for those companies who use the warehouses for storage and logistics purposes.Phase I and II is the place in Dubai Investment Park. You can rent a warehouse with an office, parking spaces, a loading area, or even a mezzanine floor. Although it is near a highway, the eating places, retail stores, and mosques are considerably closer to the location. Ras Al KhorAnother prime location to rent a warehouse in Dubai is Ras Al Khor. It is the most popular area because it is located just between Sheikh Al Zayed Road and Nad Al Sheba, making Ras Al Khor beneficial for commercial and industrial activities. In this area, you have an opportunity to get a warehouse with a reasonable rent rate with the facilities that fit with business purposes along with the size ranges.Ras Al Khor is located where you can enjoy restaurants, cafeterias, mosques, etc. RTA buses service is available in this industrial area, and also rental apartments are available in this international city; that’s become a huge windfall for your labour and staff. Al QusaisHighly popular in the search among the perfect areas to acquire a warehouse is Al Qusais. For those willing to make a warehouse for manufacturing automobile parts, electronics, food and furniture, and FMCG industries, Al Qusais is an excellent choice to increase the business. The Al Qusais Districts are located at the border of Dubai and sharjah, Muhaisnah and Al Nahda so that you can get the benefits of the penalty of transporting alternatives that include Dubai metro station and RTA buses.Easy access for the staff because this area is very near the budget-friendly residential area and rental apartments. A warehouse in a prime location will greatly boost your business. Its excellent road web, time management, and reduced cost is the main benefit of acquiring a warehouse in Al Qusais. Jebel AliAs the area of Jebel Ali is situated near the port, that makes it among the top areas for renting a warehouse. From the areas of Jebel Ali, you have fast access to the main highways. Jebel Ali is a wonderful choice if you need a warehouse at a lower rent. Although located near the Expo 2020 site and the Al Maktoum International Airport, make this area an incredible choice for those who need a warehouse for storage purposes.Also, it is best for light manufacturing departments and commercial activities. Here you can exceptionally access restaurants, retail shops, supermarkets, etc. Mussafah Industrial AreaAcquiring a warehouse for rent in the Mussafah Industrial area is an excellent choice for those searching for a warehouse in Abu Dhabi precisely for storage purposes. Mussafah industrial area facilitates the parking spaces and loading areas. It is a wonderful chance to hit the spot and get the demand effectiveness in Abu Dhabi.Moreover, Mussafah industrial area is the most demanding area in Abu Dhabi. Investors tend to invest money in this place. It provides the manufacturer with a breeding ground as it is the world’s most advanced infrastructure. Mussafah is ideally located surrounded by a high-demanding area in various businesses. Here you can avail the excellent facilities that suit your business requirements. Now you must have a clear idea about the best areas for the warehouse in Abu Dhabi and Dubai. Opening a warehouse Choosing from the above areas will be helpful to meet the market needs and give a great expansion to your existing company.   

The past few years have been memorable in many different ways with Dubai’s economy in particular experiencing exceptional growth. As such, the real estate market in Dubai has become a significant topic of interest in 2022. So what makes it different from other markets? A great place to shop It’s no surprise that many properties on the market in Dubai come with stellar views or idyllic surroundings, many residential real estate projects are even built as part of full communities that include a host of amenities. So no matter where or what you are buying, you are always guaranteed to get the most for your money. In fact, in comparison to the UK market, If you buy an apartment in Dubai with an area of about 120 square meters, the cost per meter will be around $ 5,900. In London, this figure can reach up to $ 26,260. Liquidity and rental yieldsWith Dubai’s economy booming, the market is growing and in turn, so is the demand. This is great news for new buyers, as the continuous high demand presents the ability to sell your property at any time in the future, without losing money. The damned doesn’t stop at just sales either. Properties for rent are highly sought after in Dubai and if you own a property in one of the premium locations, such as Downtown or Dubai Marina, owners are able to make a great profit from tenants. For comparison, in most European cities the rental yields do not exceed 3%, however in the Emirates they can reach up to 10%. Stable economyAlthough the state of the economy is never guaranteed, based on the growth Dubai’s economy has faced the past few years, it is highly anticipated to continue on the upward trajectory as the city attracts more tourists, investors and businesses every year.The government has also embarked on several initiatives and reforms the past few years, particularly aimed at attracting more foreign investment in the country. Including the introduction of a 10-year visa, also known as a Golden Visa, with the purpose of offering long-term residence for individuals and retaining talented people in the country.In January 2022, the UAE also embraced the global work week of Monday – Friday which helped propel the emirate’s position, both from a trade and transport perspective, as well as its status as a financial hub and a tourism destination. Attractive taxation lawsOne of the biggest incentives for those living and working in Dubai, is the absence of taxes such as personal income or property tax. This allows you to own any type of housing without wasting money on additional costs. It also means you are able to rent out real estate and receive a net profit, tax free. Looking into 2022 and beyond, both Dubai’s economy and real estate market looks set to continue its positive momentum, driven by a continuous influx of new capital and a relatively cautious release of new supply by government and semi-government developers.   

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

The plans for EXPO 2020 after March 31 have been announced and it looks like the site is set to become a new urban development.District 2020 has officially been named as the project set to replace EXPO 2020. District 2020 will focus on “curating a global innovation ecosystem and an integrated community lifestyle,” according to Expo organizers.They have billed the site as “a model global community for the future that will use state-of-the-art innovation, science and sustainability to create a cleaner, safer, healthier environment to live and work.”80% of EXPO 2020 will be repurposed for the new development as it diverts into a smart and sustainable mixed-use community. District 2020 has already gained the nickname ‘15 minute city’ as plans for the site show that housing, work spaces, retail, restaurant and attractions will never be further than a 15 minute walk away from one another.  District 2020 aims to cater to a population of 145,000 at full capacity.How does this affect real estate?Well, despite the fact this will create both residential and commercial real estate opportunities, it is also set to be yet another attraction for this bustling city. This new development will provide more working opportunities for those who are already or considering living and working in Dubai, as well as an increase in tourists travelling to visit the new smart city. So, what else can we expect to affect the real estate industry post EXPO 2020?RAPID COMMERCIAL EXPANSION In terms of commercial real estate, there has already been a huge injection of stock into the market, with the development of new shopping centres, hotels and over 400 restaurants, both in and around the Expo 2020 site. As such, it has opened the doors to hundreds of new businesses and investors in the city. With these new businesses expected to expand around Dubai, they will need to find commercial spaces in which to operate.THE SURGE IN DEMAND FOR RESIDENTIAL INVESTMENTSInvesting 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 IMPACTEXPO 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. ProsMultiple set up optionsIn 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 economyIt’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.ConsTrade limitationsAlthough 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 proceduresIf 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.   

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 estateI 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 yieldsOne 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 LivingTop Apartment communities include: City WalkPalm Jumeirah Dubai Festival City Dubai Creek Harbour Additional FeesAlthough 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 neighbourhoodAlthough 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 yieldsReceiving 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.  

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.

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/exportAbu 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 locationA 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 companiesTwofour 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 companiesElectra 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 sustainabilityMasdar City is a global hub for companies that specialise in sustainability, specifically sustainable energy. This includes companies that focus on either generating, discovering, manufacturing, and developing energy products and future green technology. Whilst a free zone, the area distinguishes itself by becoming a‘Green’’ city that relies solely on renewable energy. Masdar established itself as a beautiful yet sustainable living and working business area. Companies set up here can benefit from world-class facilities and state-of-the-art infrastructure for tech companies and partner with institutions to develop their research.  So which are the top 5 areas to set up a business in Abu Dhabi?As you can see, there are many areas in Abu Dhabi for businesses to establish themselves. Our list just has our picks for the top 5 areas to set up a business in Abu Dhabi. There are many other areas within the city that can be great for businesses. For more information, contact us today to book a consultation with one of our commercial property specialists.  

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

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

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