Buying Commercial property in Dubai can be good investment and lead to lucrative benefits from rental returns. Commercial property has always been in demand as Dubai is the regions Business Hub and Many other reasons like ease of starting and doing business, zero taxes, free zones and political stability increased demand for commercial property including offices, warehouses and retail spaces. Dubai allows foreign buyers to buy residential and commercial properties in free hold areas like business Bay, Jumeirah Lake towers, Dubai Silicon Oasis, downtown Dubai and DIFC. All these areas offer superior infrastructure to Businesses and are strategically located with each of them having residential complexes to accommodate staff working in these areas near to the work place. Business Bay is much in focus to become financial and commercial hub in the Middle East. Business Bay is envisaged to be at par with Manhattan and Ginza and become the first choice of businesses and traders who want to start or expand in the UAE and the entire MENA region. Superior connectivity with Dubai Metro and a strategic location between Sheikh Zayed and Al Khail Road gives Business Bay an edge over other areas. Business Bay is a mixed use development and features spacious offices in some of the best commercial towers in Dubai and residential apartments with state of the art amenities and facilities. Buying an office in Business Bay is a good investment as this area is fast gaining popularity within local businessmen and International traders. Business Bay is in close neighborhood to Downtown Dubai which is the most visited destination in the UAE; people working in this area can make their home in the vibrant Downtown Dubai and enjoy a cosmopolitan lifestyle while living just a walking distance away from the workplace. Business Bay is expected to play an important role in cementing Dubai's name as a commercial Hub and that defines the can do spirit of Dubai.
Downtown Dubai is a dynamic city hub which is the most visited area in Dubai and a center of attraction. Buy or rent an apartment in Downtown Dubai and you will be living amid the most vibrant community in Dubai. You can shop at the world's largest shopping mall , dine in any of the numerous restaurants serving eclectic cuisine, get thrilled at the various entertainment options or just sit back and enjoy a view of the world’s largest fountain, Downtown Dubai has something to offer to everyone. Downtown Dubai is home to the prestigious Burj Khalifa which is so far the tallest building in the globe and holds many other records that no other building has been able to beat till date. This prestigious building offers Downtown residents to indulge in a luxurious lifestyle that is unique and has no comparison. Inhabitants of the Burj Khalifa enjoy first class amenities which include sky lobbies, swimming pools, restaurants, indoor and outdoor observation deck. Living in the Burj Khalifa offers an incomparable lifestyle that is experienced by the selected few.
Downtown Dubai has some of the best residential towers to choose from and The Residences is one of the most sought after. These homes are built around the model of living a tranquil modern lifestyle. The residences are the first residential communities in Downtown Dubai. Located around the lake these nine towers offer one, two, three and four bedroom suites and penthouses. The units feature excellent interiors, modern design and provide unparalleled views the Burj Khalifa and the fountain. Living in the residences inhabitants can enjoy a dip in the swimming pool or spend some time playing squash or badminton, or read a book at the library, the day care center gives complete peace of mind to mothers. There is ample parking and 24-hour security and residents can enjoy shopping at the traditional soul and Dubai Mall. Dubai is undoubtedly a hive of activity and the first choice of event planners to host an event here for obvious reasons like ease of access via Dubai Metro and convenient and ample parking. Downtown Dubai is host to many concerts and fashion shows, events like Elegance on wheels, The Ramadan Tent, The Parade or New Years Eve keep Downtown in News always. The New Year’s celebration is major event and among the world’s most anticipated one which is streamed live on YouTube and watched by millions. Downtown Dubai is hub of activity and living in this cosmopolitan atmosphere is a great and a unique experience. Selling a property can have many hassles and hurdles that a Seller has to get through. Whether it is an apartment, villa or office it can be a stressful procedure from the moment you decide to sell your property, so how do you combat the difficulties to ensure a greater peace of mind. We will go through what we believe to be the best and most successful strategy for sellers based on experience and expertise.
First you have to look and find a good agent that you can trust to sell your property for you. This can be difficult as there are many agents who are money hungry and don’t care about much more. A good agent will work with you as a seller to firstly understand what your requirements are and work to fulfill these by advising you according to your situation of all the possibilities and then assisting you to pick the right option. The benefit of picking many agents is that you expose your property to the market which increases the chances of a potential buyer seeing the property. However this is greatly outweighed by the fact the buyer’s will see that the property is listed more than once and feel that the seller is desperate to sell which is the last thing you want. With this is in mind is being Exclusive with an agent a good idea? The question is very much dependent on the understanding you have with the agent and how he/she interprets your requirements for the property to sell. How quickly you want to sell, what market you want to target, if you need a buyer to clear your finance? Once you have narrowed down an agent that you prefer to work with what are the benefits of choosing exclusive. Many sellers feel lost and confused as to whom to call and follow up on with clients because of the many agent they speak to. An exclusive agent can take this off the seller’s hands by ensuring that all enquires, clients, agents and interested parties are dealt with and qualified by the agent before reaching the point of a viewing or negotiation. A good agent will communicate with the owner feedback and interest received on the property regularly which helps him/her make the right decisions of the sale based on the valuable information given said agent. So with these points in mind how do I ensure my property is substantially exposed in the market enough to find the right buyer for the property? With an exclusive agent the agent will feel obliged to put all their hard work on selling the property so will look at advertising as premium listings and featured listings. These listings are special and are placed at the top of all searches in the major portals in Dubai and they have highlighted descriptions which ensure the buyer spots it. Agents also have a large network of other reputable agents that the agent will work with to ensure a greater exposure for the property which means more clients and a bigger potential to sell the property. The biggest threat to a potential sale can be over exposure as this can disinterest potential buyers as they feel the seller is desperate to sell and influence the buyer to offer a lower price. Also good agencies will advertise in print which can be very good for high end property as high end buyers are more likely to come from print advertising. A reputable agent will look at having regular print of the property on full or half page adverts which showcases the features of the property. Advert boards and opens houses are also very successful in different parts of the world as they can showcase the best of each property which the agent can arrange on behalf of the seller to a high standard. With this in mind we believe it is a straightforward choice. Which will you choose? Get Listed Get Sold. Source: Safura Abas General Manager, Aston Pearl Real Estate Everything from sales of electronic gadgets, to cars and houses is ruled by the age old relationship of supply and demand. As supply increases it can tend to have a negative effect on demand because people will have more options and therefore a better chance of negotiating. According to Forbes, Dubai was recently voted in the top ten most influential cities in the world after cities like London, New York, Paris and Hong Kong. It is important therefore, that we in the real estate industry strive to meet and exceed the highest standards in the world in cooperation with Dubai Land Department
Previously Dubai was a city which was developing from zero and the rest of the world was not aware of what it was like to actually live here. With the strides Dubai has made, it is at the forefront of many people’s minds as the desirable destination to be. But this hasn’t come easy. It has taken years of structuring, building and maintaining different sectors of Dubai including property. As well as the countless sky rises, hotel resorts, shopping malls, Dubai has had to ensure it maintains its culture and identity whilst never failing to amaze the world with every new development. With constant expectation of the property sector, to each time surpass the last achievement, it can be very easy to keep building bigger and better towers but forget to analyze whether it is the right time to bring new supply into the market. If you oversupply the market with units at a time when the demand is not as high, you run risk of putting units into a diluted market with less chance of getting sold. At the beginning of the year developers were releasing developments at a very high rate. such as each week a new building would come into the market. One example of this was a major developer promising to bring 52 new buildings into the market in 2014. In the current market this would have been detrimental to demand for both new and existing developments. We would possibly have seen a major adjustment in prices and therefore units would have remained unsold. Fortunately developers have been adapting to the market conditions and adjusted to ensure that price and inventory increase at a healthy rate. The market is always open to versatile qualitative developers with a more complete community view to their development plans. An example of this is Meraas’s “The Beach” development in JBR and “City Walk” which holds promise of new caliber of developments. The government is finalizing plans for more environmentally friendly options such as solar panels on residential building, which could feed power back into the grid. Demand is shifting to a different type of property. Therefore developers who are one step ahead are moving ahead of the market by releasing sustainable projects such as Diamond Developer’s “Sustainable City.” With Cityscape just around the corner it is looking very promising for the general outlook of Dubai’s Property market. New developments will be showcased and to some extent redefine Dubai’s identity and solidify its position as a world hub and gateway to everywhere. We are confident the demand in Dubai will grow at a steady rate while at the same time entertaining the world with its astonishing diversity and life enhancing city planning. Source: Safura Abbas Safura Abbas is General Manager, Aston Pearl Real Estate Day-to-day business in a Real estate office includes many different tasks and objectives – from organizing viewings to expanding your client base, knowing when to invest your time and when not to. But where do you start if you have just joined?
The biggest reason why many choose to have a real estate career is because of the money factor, and the expectation is that it will enable them to get rich overnight. Many, however, fall at the first couple of hurdles because they have not been given the right advice and information before joining the industry. Almost all companies in Dubai offer 'commission only' positions, and the rare few that offer a basic salary may not have regular business. Working in a commission-only day job means that you could find yourself very quickly in financial difficulty, and unable to cover the costs entailed in doing your job. But if the risk is so high, why, then, are so many people taking the step to change their careers – from one that they already have into real estate? About ten years ago or so, to become a real estate agent, all you needed was to be in your 20's, be polite and well-spoken as well as owning a couple of good suits or proper business attire. The industry, however, has come a long way since, and the first requirement now is for the applicant to be hardworking, dedicated and committed. Plenty of people will consider themselves hardworking because they work from 9 to 5 each day, and they believe they will only need to be able to answer a few extra phone calls. The truth is very stark though, as you have to be working round-the-clock, according to the schedules of your clients which, most of the time, would be after 6'oclock. And if you can't be available at those times, then there is someone else that will be. The second requirement which many people underestimate is the ability to be a salesperson. A few candidates that we interview consider themselves good sales people because they believe the work is just about talking. However, being a salesperson is a much bigger task. You have to be able to spot business opportunities as well as create them. It's easy to sell when everyone is buying, but more difficult when buyers are more careful in choosing their investments. You have to first find a good opportunity and then be able to convince both buyer and seller to agree to a deal. In a market where most sellers have multiple agents selling their properties, it can be very difficult to build relationships with them as clients. This has made things much more complicated because the regulations for agents to work together are not stable enough, and there is always a degree of distrust. There are also thousands of unregistered agents working for different companies which makes working in the industry much harder. It is, therefore, difficult to get the clients needed to be successful if you do not have the dedication required. Many of you will ask: What do I get for all the effort I am putting in? What will be my rewards? The biggest reward comes at the end of the month, knowing that you have a 'sky's the limit' potential in terms of how much you get paid is great. But the real reward is from the relationships you build with various people living across the country, and from all walks of life. The reward is always the same, the feeling of building and being part of the community. Of course, there is always the monetary reward for the work you do, but there is also the thrill of doing your first deal every time, as the excitement in every sales transaction will always be as strong as what you felt during the first deal you had ever made. Source: Safura Abbas, General Manager, Aston Pearl Real Estate |