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CBRE and JLL to sell office space in Dubai South

28.09.2015
CBRE and JLL to sell office space in Dubai South
A massive campaign to lease and sell real estate in the new mixed-use Dubai South complex is about to begin in Dubai.

Two of the largest brokerage and analytical agencies in Dubai have signed contracts to promote and market Dubai South mixed-use complex (formerly known as Dubai World Central), a large-scale development project launched recently in Dubai.

Under the agreement, CBRE and JLL will put up 2 million square feet for sale and lease in 11 office buildings in Dubai South, located near the site prepared for the World Expo 2020 and in close proximity to Al Maktoum International Airport.

Given the specificity of the complex, a large amount of space required to accommodate both offices of international companies serving Expo 2020 and also all kinds of related services. It is known that rents for warehouses in the area range between USD 8 and USD 11 per sq ft. This way Dubai government and Dubai South master developer seek to lure more foreign investors and large corporations to its Business Park Free Zone.

“The Business Park Free Zone forms an integral part of Dubai South, allowing companies based here to enjoy the distinct advantages of the 145 sq kilometre master planned city. including proximity to the Al Maktoum International Airport, the Jebel Ali Port and to the venue of the World Expo 2020,” said Paolo Serra, the vice president of the Business Park at Dubai South.

Dubai World Central, recently officially renamed for Dubai South, is of key importance for the future development of Dubai. Launched in 2006, the project is the world’s first purpose-built 'aerotropolis', i.e. the city in the city, concentrated around the international airport as its main dominant. Residential, office and commercial buildings, entertainment areas are to be constructed here. And the Al Maktoum airport will have a capacity of 160 million passengers and 12 million tons of cargo per year upon completion.

First residential complex consisting of 6000 homes, including apartments, villas and townhouses, will be handed over in 2019.

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)
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