How To Find Commercial Tenants in Dubai
Commercial real estate, also known as CRE, refers to properties exclusive for business. These properties include offices, shops, restaurants, warehouse, and other establishments that generate profit. Being a tourist and investment hub in Middle East, Dubai caters many commercial spaces. Investors from all parts of the globe come here to setup their businesses. Commercial landlords became tempted right away because of the abundance of prospect tenants. But how sure are they if they are the right tenant for the property?
Guideline tips for choosing suitable commercial properties
Acquiring a commercial property for lease is not that easy. There are lots of factors to consider when renting a business space in Dubai. Here are some tips for prospect tenants to find the appropriate place for business:
- 1. Location This is the first consideration that tenants need to meet when setting up businesses. Location should be as near as possible to target customers. It should also be accessible to employees in order to provide better productivity.
- 2. Furnishing Tenants must consider the layout of the commercial space for their business. They must identify what they want. Should it be shell & core so they can setup their preferred design? Should it be fully fitted with existing partitions? Or should it be fully furnished with existing office equipments? These should be thought properly to create smooth transition of going open for business.
- 3. Operation expenditures Utility costs and service charges, if applicable, must be included in tenant’s checklist. What’s the point of renting a low-priced office if bills are too high, right?
Who is eligible to obtain a commercial property on lease?
Businesses that will operate onshore or free zone can lease on Dubai commercial properties. Onshore businesses are those companies that share ownership with a local partner. For free zone operations, 100% of shares belong to firms without UAE national partner.
Get professional advise while renting commercial properties in Dubai
Prospect tenants must not dive in immediately to renting commercial spaces. Seek advice, especially from experts, on how to rent the right property for business. Tenants can check with property management companies. These firms offer reports regarding current market price. Tenants will be sure that properties are in good condition as it is managed.
Make sure all the paperwork is in order
Setting up businesses in Dubai requires quite an amount of paperwork. Tenants must have all their documents available from representatives’ documents to statement of accounts. Tenants must also secure tenancy contracts to be able to get a trade license. Landlord’s documents are also required in applying for opening a business. Other documents are required by proper authorities depending where the business will operate. There would be different set of other requirements for onshore and free zone companies. The right commercial spaces are mostly being handled by property management companies. And if it’s “property management Dubai”, BSO is the name to trust!