Commercial area intended for use of profitable businesses. Such as office complexes, shopping malls, service stations, and restaurants. Developers may purchase for future projects or lease through a real estate broker. This type of property falls somewhere between residential and industrial property.
Commercial Real Estate
We have a dedicated & experienced team in the field of commercial properties. We provide quality space to our target clients. Which includes retail shops, office space, staff accommodation, buildings for hospitals & banks, villas for medical centers, and nurseries.
Commercial real estate is any property other than a single-family home or a residential lot in a neighborhood. The real estate market is handled very similarly in industrial and residential real estate markets. The commercial real estate market goes through ups and downs just like any other investment market however investments in commercial real estate can be a very wise decision.
Commercial real estate is similar to industrial and residential real estate in that when you buy it you are buying a building or land. What separates these three types of real estate is how they are zoned and what they are used for.
The market analysis estimates commercial occupancy rates of around 99 percent in both traditional and newer areas of Dubai. “According to our estimates, office rents have risen by almost 40 percent year-to-date (YTD) in both old and new areas of Dubai as demand continues to outweigh supply,” it said.
The bank’s analysis shows that office and commercial rents in Old Dubai. (Garhoud, Bur Dubai and parts of Sheikh Zayed Road) have risen by 36 percent on average (YTD) and in new Dubai (Shaikh Zayed Road, DIFC, Business Bay, Jumeirah Lake Towers, Internet, and Media City) by almost 45 percent (YTD).
“The more luxurious Grade A properties in both areas jumped by around 35 percent on average. Finding office space in the city remains arduous, with companies settling for less desirable locations. Renting temporary space in villas, setting up branches or smaller offices, or buying rather than leasing office space. Newer areas of Dubai have become centers of commerce, a trend that explains why rental rate increases are not easing in these locations.”