Dubai, being the international commercial hub for business in Asia, undergoes a continuous process of property buying and selling throughout the year. Dubai becomes an ideal choice for commercial business investment due to two reasons. Firstly, the most luxurious and technologically advanced life in Dubai cover up all the needs and requisites of the people coming from different cultures to Dubai. Secondly, the inexpensive property rates in Dubai, as compared to the rates in London and New York, offer excellent and lucrative packages. Here are a few practical considerations before selecting a commercial property in Dubai.
1. Property Type
Dubai is categorically divided into several not-physically-demarcated regions on the basis of the property types. Even when it comes to the commercial property, Dubai offers a really exclusive catalogue of property categories. For example, commercial properties on the Sheikh Zayed Road and Umm Suqeim are far expensive than the commercial properties in Garhoud and Deira. However, the commercial properties on the Sheikh Zayed Road and in Umm Suqeim connect the investor with the world’s leading businessmen. Other advantages include the increased chances of better property resale and rental prices due to the property connected to the shopping malls, hotels, resorts, business buildings, conference spots and tourist spots etc.
2. Property Status
Several commercial property projects are introduced every year in Dubai. According to the Dubai property laws, the status of a property is dependent on the condition of the property. A property which requires too much repair or which has a bad infrastructure as compared to its sister property will be automatically cheaper in price. However, the distressed property business has yet not flourished in Dubai. The year 2013 is a good choice to invest in Dubai’s distressed property business. However, to buy a commercial property in Dubai, it is better to opt for upcoming projects or incomplete projects.
3. Commercial Property Sale Culture
The commercial property sale and residential property sales culture in Dubai go perpendicular to each other. The residential property sellers expect their tenants to stay for a lesser time. However, a commercial property seller desires his tenant to stay for a longer time. This comparison decreases the volatile nature of the commercial property in Dubai.
4. Targets and Goals
While buying a commercial property in Dubai, it is compulsory to explain the targets and goals to the real estate agents. The commercial property culture and status in Dubai changes vigorously. Only a real estate agent can guide the investor about the future of a property so that a comparison can be made with the goals and aims. If the investor wants to start an interconnective linkage with the top business society of the world, then commercial properties in Palm Jameirah and Sheikh Zayed are ideal. These properties are not going to face a fall at least for next 50 years. The deals are different for rental and office properties.