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Dubai still ME business capital

14.06.2015
Dubai is expected to consolidate its position as the top city for corporate occupiers in the the Middle East and North Africa over the next three years, according to a new report. Boasting a multitude of cultures and a host of business opportunities, Dubai still holds its position as the centre of the Arab world when it comes to business. Dubai is expected to consolidate its position as the top city for corporate occupiers in the the Middle East and North Africa over the next three years, according to a new report by real estate investment and advisory firm JLL. Its first Occupier Sentiment Survey in the MENA region said while there is still growth in demand in Saudi Arabia and Egypt from companies servicing these local markets, Dubai remains the preferred location for regional operations. JLL said high quality amenities, sufficient parking, good accessibility and international standards of property management are increasingly significant factors that influence occupancy and rental levels, as office densities increase and flexible working becomes more common. Dubai’s office occupancy levels are providing a silver lining in a rather clouded readjustment period for the overall property market, with net absorption averaging 112,000 square metres in the four years up to first quarter of 2015. What it shows is that Dubai’s developers have taken the right stance by not going in for a massive addition in new office property launches during this period, allowing whatever new stock coming through to be absorbed without upsetting the market dynamic. Occupancy levels are rising across the emirate. Dubai Sports City expects to house 20,000 people within a year, as the mixed-use complex expects to attract new tenants. It expects to attract 5,000 residents to its existing projects this year and have 70,000 people when it is fully completed in the next seven years. House prices in Dubai slipped by 3.7% in 2015, but despite the slowdown, the emirate's property sector is going strong. According to Phidar Advisory, the ongoing decline of sale prices is, in fact, a healthy correction. The emirate is also listed among cities that have outperformed as a prime city since 2009.
Latest Availability
1,135,000
Ref.No: imex-5095297
Studio Apt
0 ft2
0 AED/ft2
SALE
2,490,000
Ref.No: imex-4482877
Townhouse
2,167 ft2
1,149 AED/ft2
Floor: 2
SALE
4,950,000
Ref.No: imex-4482567
2BR Apt
1,883 ft2
2,628 AED/ft2
Floor: 4
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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

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
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

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
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

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