Slower growth benefits office rentals

03.01.2015
What the market does not need right now is to go through sharp spikes and which would add to the cost of doing business in the cities. Dubai and Abu Dhabi did not make it to the Top 10 rankings of cities with the highest growth rates on rentals for prime office space during 2014. However, that's not necessarily a bad thing. In fact, Abu Dhabi just about made it to the 50th spot in rankings. Growth in asking rates on office leases in Abu Dhabi were at 2.4%, according to CBRE estimates for the 12 months that ended September 2014. Even without a major upswing, Dubai’s Grade A offices are still among the most expensive with a square foot averaging $92.56 (AED340) and placing at 23rd. The slower rental demand increases in Dubai and Abu Dhabi bodes well for the near-term prospects of both. What the market does not need right now is to go through sharp spikes and which would add to the cost of doing business in the cities, Zawya reported.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management