Dubai Property Market is going through a phase where a number of changes are taking place in the commercial sector.
One of the up-and-coming trends in the Dubai Commercial Property market is the alteration of warehouse space to office premises. Companies that entail large open plain spaces, such as advertising or marketing companies have been seen to rent warehouse space and easily alter it into well-organized office space. This offers a cost effective solution for businesses that call for to be close to the business centre but may not wish to pay the premium rates of prime location office space. Warehouse rental rates are appropriate for office alterations as they ebb between 40-65AED per sq. ft. Warehouse space rent solely used for storage purposes averages 28-35AED per sq. ft. Whereas rents in the Central Business District (CBD) may be 225-250AED per sq. ft.
The Dubai Property market is stiff and therefore the concept of Split Offices has come into being. Many professional services firms, faced with the prospect of predominantly high rents in prime locations have a propensity to lease a small space suitable for client meetings in the Central Business District so as to show off an address on a esteemed location such as e.g. Sheikh Zayed Road, and shift their operations to a secondary location where rents may be more reasonably priced e.g. Garhoud, thus successfully saving on enormous expenses.
Thus, supply of the Dubai Real Estate market is shaping up to meet the property demands in
