Renting a Commerical Properties in Dubai for Business Purposes.
For those who are considering opening a business in Dubai, getting the right commercial property should be the first priority. It is important to go by the legal process and find the most promising and ideal location that saves them from the trouble of searching again and avoiding challenging situations with the owners.
Dubai attracts millions of new investors every year who want to capitalize on the ever increasing market and be a part of this glamorous world. It is essential to understand that leasing is a serious matter and must understand this process in detail to move forward with the process smoothly.
Here are some important points that should be kept in mind when thinking about commercial property for rent in Dubai:
- Licensing and authorization
When choosing commercial premises, it is necessary to keep in mind the business needs and requirements so that the right property can be rented that helps in business development.
In UAE, commercial premises are strictly divided into certain types and an office cannot be used for shop or any other business.
Your company should have a valid license from the Dubai Government Free-Zone or the Dubai Economic Department (DED) as only then you can lease commercial property here.
Before signing on the dotted line, make sure that all the documents are valid and available such as proof of ownership, a status of the property as well as compliance of the premises with the existing plans and the required permits which make it easy for you set up a business and reap the fruits of labor.
- Choosing the right property type
There are two types of standard commercial properties available for lease; fitted and shell and core.
‘Fitted’ premises means the property can be used as soon as the tenant moves in with all the facilities like fixtures and fittings already there.
‘Shell and core’ premises means that there are no fixtures and fittings and the tenant must design and decorate the unit on his own.
It is up to you choose the type of commercial property that would suit your business needs best.
- Additional Expenses
The tenant is responsible for additional expenses that include utility charges like DEWA (Dubai Electricity and Water Authority), chiller, internet connection, and phone lines etc.
Several projects also levy service charges for the property and it can be discussed with the owner and specified it in the lease agreement with mutual understanding.
These are basic amenities every business owner has to sort out before establishing the business.
- Finding a suitable location
In order to launch a business the right way, it is essential to find the ideal location for it.
It must be easy to access and help you connect with clients as well as suppliers so that you do not run into difficulties after moving.
It is best to consult a property advisor or a real estate agent if you are not sure about the feasibility of the location and need some help in determining its suitability.
Sheikh Zayed Road, Jumeirah Lake Towers, Dubai Marina etc. are the ideal locations for setting up offices, boutiques or eateries while Al Quoz, Jebel Ali or Dubai Investment Park offer the best places for warehouses, factories, and storage or labor camps.
- Commercial lease terms
Mostly the commercial leases are for a minimum of 1 year and they get renewed automatically for another year at the end of the term.
These leases can be for as long as 10 years depending on the mutual agreement of both the parties.
Go through the contract carefully so that you do not miss out on any points and can fight for your rights in case of any problem.
Dubai has become the most popular and sought after place by businesses due to its fast-growing economy, tax-free business opportunities in free-zone areas and exciting commercial prospects.
Whether you seek to start a new business or expand your business in this region, leasing a sophisticated and modern space can help you develop a venture most successfully.
Knowing the basics of commercial property for rent in Dubai is the first step to achieving your goals and taking steps in the right direction.