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188 new offices added to Dubai office property stock

22.07.2016
188 new offices added to Dubai office property stock
Dubai developer Tanmiyat’s handed over The Exchange Tower, a new office center in Business Bay.

The Exchange Tower, located opposite the JW Marriot Marquis, will include 188 Grade A offices together with some retail premises and other conveniences, such as lounge zones and conference halls. Almost all offices had already been pre-leased, as offices in Business Bay are of great demand among international companies wishing to position themselves in the local market and rent a prestigious office in the city center. Positive impact of the Expo 2020 is also at place making more companies want to relocate to Dubai and new start-ups entering the market.

In the whole, Dubai remains two tiered office market, with strong demand for single owned Grade A offices, but little interest in secondary locations.While Grade A spaces with developed infrastructure and surrounding amenities are retaining rental levels, demand has slowed down in the remoted and poorly rated areas and business centers.

In the coming years Dubai developers will bring a bunch of new office property offers to the Dubai real estate market. Thus, rentals for Grade A offices supposedly won’t go up and the occupancy level, which now stands at 78% for Dubai, will decline, experts forecast.

For the record, last year’s Grade A offices supply added about 700,000 square meters of new office space to the market. Thus, to date, Dubai’s office property stock is about 8.3 million square meters.

The most of new office buildings are being built in ​​Business Bay (26%). Other districts, such as Dubai Marina, Barsha, TECOM and Logistics City also saw a substantial increase in office stock for lease.

But if you would really prefer an exquisite brand-new spacious Grade A office at the center of Dubai, IMEX has a special offer for you: a 1580 feet office with a sea view in The Exchange Tower for just USD47,326 pa, or a number of other ready-to-move-in offices for rent in Dubai’s main central locations like Dubai Marina, JLT and Business Bay.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
730,000
Ref.No: AP165
Studio Apt
630 ft2
1,159 AED/ft2
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Lease process (Rent out)
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1 hour

Contract of the lessee and agency.

Required documents:

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Ad placement

1 day

Ad placement:
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Expenses of the seller:

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1 hour

Contract of the lessee and agency.
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Signing of the lease agreement

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Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

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1 hour

Contract of the tenant and agency.
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~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

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Registration of the contract of purchase / sale
Customer charges:
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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
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1 hour

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1 year

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1 day

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From 3 days

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1 Week

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Expenses of the investor:
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