Emerging Trends in Dubai City Property Market
Arising Fads in Dubai City Property Market
By Daniel Marshal
Dubai realty is witnessing a number of adjustments in the commercial market.
One of the emerging patterns in the industrial home market is the conversion of stockroom room to office premises. Business that need large open strategy rooms, such as advertising or advertising and marketing firms have been seen to lease stockroom room and easily change it right into effective office space. This gives an inexpensive solution for businesses that have to be near the business centre but may not desire to pay the costs prices of prime place office. Storage facility rental prices suitable for office conversions vary in between 40-65AED per sq. ft (storehouse area lease specifically utilized for storage purposes averages 28-35AED per sq. feet), whereas rents in the Central Downtown (CBD) might be 225-250AED per sq. ft.
The property market in Dubai is tight and as a result the concept of Split Offices has come into being. Several specialist solutions firms, confronted with the prospect of specifically high rental fees in prime locations have the tendency to lease a tiny area suitable for client conferences in the Central Enterprise zone so regarding flaunt an address on a distinguished place such as e.g. Sheikh Zayed Roadway, and relocate their procedures to a second area where leas may be extra cost effective e.g. Garhoud, thus properly minimizing huge overheads.
Therefore, supply of the real estate market in Dubai is shaping up to meet the residential or commercial property demand.
This post has been sourced from the 'Much better Residences Commercial Evaluation, June 2006' issue - the quarterly newsletter of the Better Residences Commercial Advisory Department, Dubai, UAE. Much better Homes has actually been thoroughly involved in the leasing of large industrial tasks in UAE over the past few years and currently shares this knowledge and market info with this quarterly Commercial Evaluation.
Browse through http://www.bhomes.com for acquiring, selling, renting, investing, managing and temporary renting your Dubai residential property. http://www.bhomes.com/commercialadvisory.aspx?ezine
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