The demand for commercial property has always been high in Dubai mainly because it is a tax free zone and as a strategically located port and commercial hub, it attracts lots of attention. Millions of people come here every year to shop and have fun and having a commercial property can go a long way in helping you enjoy great returns on investment.
Having the right space, in the right location and at the right price is a big factor that has influenced the growth of Dubai commercial property sector. With a lease agreement, you are buying the right to occupy property from a freeholder for a period of 99 years or less. This form of ownership grants you the rights to the unit but not the land it is built on. It is a great option since expats cannot own property in non-designated and this offers them a chance to setup a business in the area of their choice.
Here are some top tips for you to keep in mind that make commercial properties leasing in Dubai really easy and help you make the right business decision.
- Market survey
Before making any decision regarding the commercial property you are considering leasing, it is essential to study the local real estate market and check out which properties will work out best for you in terms of location as well as budget.
- Choose the right developer
You must only look for the most known and trusted developer who can prove to be the right partner for your business. Working with a new developer might not be a very good choice unless you are sure of the results. It is best to consult a property advisor in this regard so that you can make the best choice for leasing a property that will help in advancing your business.
- Know your budget
It is essential that before seeking out commercial properties for leasing, you have a definite figure in mind and know how much you can pay. Along with the leasing cost, there are many other expenses you will have to bear while putting up a business so it is imperative to manage the finances carefully to avoid any problems later on.
- Licenses and documentation
Make sure to have all your documents, especially the business license and other related paperwork ready for submission once you have decided to lease commercial property for setting up a business. It is necessary because the parameters of the license will help to determine in which part of Dubai you can lease the most suitable property.
- Property size and structure
It is essential to check out the property size and structure before going ahead with the leasing. Whether you are setting up a café, a restaurant, a boutique or a bookshop or even a warehouse, you must know how much space you will require to launch a business and if this place will be adequate in case of expansion in the long run. The size of the property will also help to determine if you are paying the right price for it. It is best to keep these aspects in mind to select the most suitable property to develop your business.
- Know the leasing laws
It is important to know the leasing laws before moving ahead and finalizing a commercial property for establishing your business. You have rights as a property owner and you can only exercise them if you have read the laws and understand them well.
Commercial property leasing is the best thing to begin with when it comes to setting up a business in Dubai. The economic growth at this point is motivated by the preparations for Expo 2020 Dubai and the retail, hospitality, logistics, finance and the tourism sectors are searching for the best commercial properties to make the most of the upcoming high profile even. It is time to make the right decision by seeking the best commercial space to give a boost to your business and increase returns on investments.