Commercial Property Market Report Q1 2022

In October 2024, Dubai’s commercial property market continued to shine, marked by impressive sales volumes and values that signal robust investor confidence and market vitality.Dubai's Commercial Property Market as a WholeThe Dubai Land Department recorded an impressive 1,044 commercial sales transactions totaling AED 10.9 billion, further cementing Dubai’s reputation as a top destination for commercial real estate investment.Office Segment Snapshot Among these, the office segment stood out, with 304 transactions valued at AED 661.5 million and an average price of AED 1,503 per square foot.When it comes to top office sales locations in Dubai, areas like Business Bay, Jumeirah Lake Towers (JLT), Tecom, Jumeirah Village Circle (JVC) and Culture Village lead the way, each offering unique advantages to businesses. Business Bay stands out as a prime commercial hub with modern infrastructure and easy access to Sheikh Zayed Road, attracting a wide range of corporate tenants and investors. JLT provides an appealing mix of office and retail spaces around scenic lakes, appealing to companies looking for a dynamic yet balanced work environment. Tecom, with its dedicated technology and media clusters, attracts firms in media, tech and communications industries, while JVC offers more affordable office spaces amid a growing residential area, ideal for small to medium-sized businesses. Culture Village, with its arts-focused design, presents a more creative environment, drawing in businesses interested in a unique, culturally rich setting. These locations highlight Dubai's diversity, accommodating various industry needs and preferences.Retail Segment SnapshotThe retail segment also performed well, with 135 transactions valued at AED 296.7 million, reflecting sustained investor interest in prime retail spaces throughout the city.At CRC, we see this momentum in retail transactions as a clear indicator of Dubai’s dual appeal as both a business hub and a vibrant retail destination, where demand for commercial and consumer-focused spaces remains robust.The top 5 destinations for retail sales transactions were:International CityMirdifBusiness BayMBR CityJumeirah Village CircleCRC October Overview The office sales and leasing market in Dubai is showing significant momentum, with CRC data revealing a 64% year-on-year increase in buyer leads. Business Bay continues to be the top-performing community for office sales, reflecting its strong appeal among buyers. Moreover, the average selling prices across commercial property types stand at AED 2,531,250 for office spaces, AED 3,600,000 for retail units and AED 10,700,000 for warehouses, showing robust demand and investment potential across diverse sectors.Leasing activity is also on the rise, with tenant leads increasing by 23% year-on-year. Key locations for commercial leasing, such as Jumeirah Lake Towers (JLT), Business Bay and Media City, demonstrate their continued attractiveness for businesses seeking prime locations. Leasing prices average around AED 462,725 for office spaces and AED 567,398 for retail spaces. The upward trends in both buyer and tenant interest across these areas underscore the resilience and growth of Dubai's commercial property market, particularly in its most sought-after communities.    

Dubai's retail market is continuing to grow, making it a prime destination for businesses looking to rent retail spaces. In Q3 2024, DLD data revealed retail transactions have reflected a 33% Y-o-Y growth and the total value of transactions were recorded at an impressive AED 738.7 million, depicting healthy investor interest within the retail segment.  Top 5 Locations to Rent a Retail Shop in Dubai Here’s our guide to the top locations for renting a retail shop in Dubai, each offering unique advantages to suit different types of businesses.#1 International City Dubai’s International City offers a unique blend of affordable retail spaces, diverse clientele and a strategic location. Known for its multicultural appeal and accessible prices, International City is an attractive option for businesses looking to reach a broad audience without the premium costs associated with other areas in Dubai.International City is designed around different country-themed clusters, attracting a multicultural population of residents and visitors. This layout makes it a vibrant community for retail businesses targeting a variety of demographics, from families and young professionals to tourists exploring Dubai.Moreover, unlike high-end areas such as Downtown Dubai, International City provides affordable retail spaces, allowing businesses to save on rent while tapping into a growing customer base. This cost-effectiveness is particularly appealing for small and medium-sized enterprises (SMEs) and startups.Average rental price: AED 110-130 per sqft #2 Dubai Marina One of Dubai's most notable locations known for its scenic views and vibrant lifestyle, Dubai Marina attracts a young, affluent population. Dubai Marina is a bustling hub of activity, drawing significant foot traffic from both residents and tourists, particularly expatriates. With its scenic waterfront, towering residential buildings and vibrant nightlife, Dubai Marina attracts a diverse and steady stream of visitors. This high level of foot traffic provides an excellent opportunity for retail businesses to reach a large and varied customer base daily.Dubai Marina is ideal for fashion, fitness, food and lifestyle brands. The area’s upscale vibe and appeal to health-conscious, style-savvy residents and visitors make it an attractive location for businesses aiming to offer quality products and services in a vibrant, trendy setting.Rental rates in Dubai Marina are moderate to high, with prime waterfront or high-traffic areas commanding higher prices. However, these rates are balanced by the strong customer reach and spending power typical of Marina’s residents and visitors, making it a competitive yet rewarding location for retail ventures.Average rental price: AED 290-310 per sqft#3 JVCJumeirah Village Circle (JVC) has seen rapid growth in recent years, attracting a diverse range of residents, particularly families and young professionals. Although it’s more residential and less tourist-centric than areas like Dubai Marina, JVC’s community vibe and high occupancy rates ensure steady local foot traffic, making it an attractive area for neighborhood-focused retail businesses.JVC’s family-friendly atmosphere makes it ideal for retail shops that cater to daily essentials, lifestyle needs and family-oriented products. Businesses such as supermarkets, cafes, fitness centers and children’s stores are particularly popular, aligning well with the preferences of JVC’s community-driven residents.Rental rates in JVC are generally affordable to moderate, making it a cost-effective option for businesses aiming to establish a presence in Dubai without the high overhead costs found in premium areas. This accessibility appeals to small and medium-sized businesses that want to serve a growing residential community while keeping operational costs manageable.Average rental price: AED 250-280 per sqft#4 Business Bay Known for its modern, urban vibe, Business Bay is well-suited for retail businesses that cater to professionals and high-end clientele. Fashion boutiques, upscale dining, wellness centers and specialty stores thrive in this area, attracting customers looking for premium services and products in a convenient, centrally located setting.With its high concentration of office spaces, upscale residential towers and proximity to Downtown Dubai, Business Bay sees a consistent flow of individuals throughout the day, particularly office workers, business travelers and expats.Rental rates in Business Bay are moderate to high, with prices varying based on proximity to major landmarks, high-traffic areas and the Dubai Canal.Average rental price: AED 270-290 per sqft#5 ArjanThe retail landscape in Arjan is ideal for businesses that cater to everyday needs and family-oriented services. Grocery stores, cafes, fitness centers and educational facilities are well-suited to this community-focused environment.As Arjan continues to evolve, there are ample opportunities for retail shops that offer convenience and cater to the lifestyle preferences of local residents.It benefits from a growing population of families and young professionals, which contributes to an increasing level of foot traffic. As more residents settle in the area and new amenities open, the potential for steady customer visits is on the rise.Rental rates in Arjan are generally more affordable compared to established neighbourhoods in Dubai, making it an attractive option for new and small businesses looking to enter the market.Average rental price: AED 250 per sqftConclusion In summary, Dubai's diverse retail landscape presents a wealth of opportunities for businesses looking to establish themselves in key locations. From the affordability and multicultural appeal of International City to the upscale, vibrant atmosphere of Dubai Marina, each area has distinct advantages that cater to different market segments. Jumeirah Village Circle (JVC) provides a family-oriented community with steady foot traffic, while Business Bay caters to a high-end clientele in a bustling commercial environment. Meanwhile, Arjan is an up-and-coming area that offers cost-effective options for new and small businesses.As the retail market in Dubai continues to grow, these locations represent prime opportunities for businesses aiming to thrive in this dynamic environment. Whether you're a startup or an established brand, choosing the right location can significantly impact your success in Dubai's competitive retail sector.About CRCCRC Property comprises of a team of 70+ specialist commercial consultants around the UAE. Our retail team cater to the diverse requirements of clients, whether looking for a retail shop to rent in Dubai or for sales. Covering a range of locations across the city, our team are equipped with extensive experience and market knowledge to offer lucrative investment options that suit your specific business requirements.We understand that each client’s requirements are unique and we strive to provide personalised solutions that align with your goals. From analysing market trends to identifying prime locations, our consultants work diligently to ensure you make informed decisions that enhance your business’s growth potential. With CRC Property, you gain access to a wealth of expertise, comprehensive support and a network of industry connections, making us your trusted partner in navigating Dubai’s vibrant retail market. 

Abu Dhabi’s commercial real estate market has seen remarkable growth in 2024, with office spaces hitting a new high. Occupancy levels have soared to 88%, while rental prices have climbed by 15% year-on-year. This robust performance underscores the capital’s increasing appeal as a business hub, driven by both regional and international companies seeking to establish or expand their presence.Booming Demand and Rising RentalsThe significant 15% rise in rental prices is a key indicator of the surge in demand for office spaces in Abu Dhabi. Businesses are attracted by the city’s strategic location, economic diversification efforts and its role as a thriving hub for industries such as finance, energy and technology. The growing need for high-quality office spaces is a reflection of both new market entrants and existing companies expanding their footprint in the capital.The current occupancy rate of 88% highlights the competitive nature of the market, where prime office spaces are increasingly scarce. Tenants are now moving quickly to secure space, driving up both rental rates and competition, particularly in premium locations.Top Office Locations in Abu Dhabi Office MarketAl Reem Island One of Abu Dhabi's most prestigious addresses, Al Reem Island, has become a hotspot for businesses. The island offers a mix of modern office towers with world-class amenities and stunning waterfront views. Its proximity to the central business district, combined with easy access to luxury residential areas, makes it an ideal choice for companies looking to offer employees convenience and lifestyle benefits. Al Reem Island is perfect for businesses in the finance, consultancy and tech sectors and its reputation for premium office spaces continues to grow.Maryah Island Maryah Island stands out as a premium business destination in Abu Dhabi, offering state-of-the-art office spaces within the Abu Dhabi Global Market (ADGM) jurisdiction. Known for its prestigious ADGM licenses, the island is a key financial hub, attracting international and regional companies. The area boasts modern, high-end buildings with world-class facilities, making it an excellent choice for businesses seeking a premium office environment. With its strategic location and exclusive status, Maryah Island is ideal for firms looking for a sophisticated, globally recognised base in the UAE capital.Corniche The Corniche area is another prime location for offices in Abu Dhabi, offering stunning sea views and a central position within the city. Known for its iconic waterfront, Corniche attracts businesses looking to combine a prestigious address with scenic surroundings. Offices here are typically found in high-rise buildings that provide excellent amenities. Its central location also ensures easy access to key commercial areas, making it an appealing choice for companies looking to establish themselves in the heart of the capital.Addax Office Tower The Addax Office Tower, located on Al Reem Island, is another top choice for companies seeking high-end office spaces. The tower is a symbol of luxury and efficiency, offering panoramic views of the city and waterfront, state-of-the-art facilities, and large floor plates that can accommodate businesses of various sizes. Its strategic location within Abu Dhabi’s business hub, coupled with top-tier amenities, makes it highly attractive for multinational corporations and local businesses alike. The tower also benefits from the island's proximity to key government institutions and major infrastructure.Al Khalidiyah Al Khalidiyah is prized for its central location, making it one of the most sought-after areas for renting offices in Abu Dhabi. This bustling district offers excellent connectivity to the city’s key commercial hubs, making it highly convenient for businesses. Companies can find office spaces in mid to high-rise buildings equipped with modern facilities, all at competitive rates. For those seeking furnished offices in a prime location, Al Khalidiyah presents a strong option.Mohammed Bin Zayed City Mohammed Bin Zayed City, named after His Highness Sheikh Mohamed Bin Zayed Al Nahyan, offers a blend of affordability and strategic connectivity. Located on the outskirts of the city, it provides seamless access to major highways such as Al Ain Road (E22) and Sheikh Khalifa Bin Zayed International Road (E11). This suburban area is an attractive option for companies looking to secure office space at reasonable rents while benefiting from quick access to the capital’s main roads.The Road AheadWith Abu Dhabi’s office market maintaining its upward trajectory, the city is expected to remain a top destination for businesses across a variety of sectors. The strong occupancy rates and rising rental prices suggest a healthy market, though businesses must act quickly to secure prime spaces as competition intensifies. Locations presented above will continue to dominate as top choices for companies looking to establish themselves in Abu Dhabi’s dynamic commercial landscape.For businesses seeking the right balance between quality, location and cost, staying informed about market trends and exploring strategic opportunities in Abu Dhabi's leading office locations is crucial for success.About CRC Abu Dhabi CRC Property Abu Dhabi is a leading commercial real estate brokerage, offering expert services across leasing, sales and investment advisory. With deep knowledge of the local market and a strong presence in key areas across the city. CRC provides tailored solutions for businesses looking to establish or expand in the capital. Whether clients are seeking premium office spaces, industrial properties, or investment opportunities, CRC’s team of experienced consultants ensures a seamless process, helping businesses find the right space to thrive in Abu Dhabi's dynamic commercial landscape.

Dubai’s skyline is a testament to its booming real estate market, characterised by a dynamic mix of residential and commercial properties. Whether you're an investor, landlord or tenant, understanding the nuances of property management in Dubai is crucial for success. This guide delves into the distinctions between commercial and residential property management, the significance of effective property management, lease terms and regulations and essential documents required in the leasing process.The Importance of Property ManagementEffective property management ensures that both residential and commercial properties are well-maintained, compliant with local regulations and profitable. It involves:Tenant Management: Screening and retaining tenants, handling disputes and ensuring timely rent collection.Maintenance and Repairs: Regular upkeep, addressing repairs promptly and ensuring the property remains in good condition.Legal Compliance: Adhering to local laws and regulations, such as registration with Ejari, health and safety standards and other legal requirements.Financial Oversight: Budgeting, financial reporting and ensuring the property remains a viable investment.Benefits of Professional Property ManagementEnhanced Property Value: Regular maintenance and professional management can increase the property's market value.Reduced Vacancy Rates: Effective marketing and tenant retention strategies ensure higher occupancy.Legal Protection: Staying compliant with local laws minimises legal risks.Peace of Mind: Property owners can rely on professionals to handle day-to-day operations, reducing stress and time commitment.Commercial Property ManagementCommercial properties include a diverse array of real estate, such as office buildings, retail spaces, warehouses and hotels. These properties are used primarily for business activities, which significantly influences their management requirements.Tenant RelationshipsManaging commercial properties typically involves long-term lease agreements with businesses or corporations. Developing strong tenant relationships requires a proactive approach to meet their business needs, negotiate lease terms and ensure compliance with local regulations. Effective communication and negotiation skills are crucial for successful commercial property management.Maintenance and UpkeepMaintaining commercial properties involves addressing the unique requirements of business tenants. This includes regular inspections, servicing HVAC systems, enhancing security and complying with accessibility standards. Property managers must prioritize prompt maintenance to maintain the property's value and ensure tenant satisfaction.Lease Terms and RegulationsCommercial leases in Dubai are governed by the Commercial Tenancy Law (Law No. 26 of 2007), which sets out the framework for agreements between landlords and commercial tenants. Unlike residential leases, commercial leases offer flexibility in terms and conditions, which can be tailored based on the property's location, size and market demand. Commercial leases can vary from one year to several years, often including clauses for rent escalation and renewal options.Rent IncreasesProvisions for rent increases are typically included in the lease agreement, often linked to market conditions.For leasing commercial properties in Dubai, tenants need to provide:Trade license or commercial registration documentsPassport copies and visa pages of the authorized signatoriesEmirates ID (for UAE residents)Memorandum of Association (MOA) for corporate tenantsSecurity deposit (usually equivalent to a few months' rent)Ejari (rental contract registration) certificateResidential Property ManagementTenant ProfilesResidential properties cater to a wide range of tenants, from individuals and families to expatriates and professionals. Each tenant type has specific preferences and requirements, influencing the management approach. Understanding these diverse tenant profiles helps property managers tailor their services to meet varied expectations.Maintenance and UpkeepKeeping residential properties in excellent condition is essential for attracting and retaining tenants. This includes regular maintenance, prompt repairs and ensuring the property meets safety and health standards. Property managers must focus on providing a comfortable and safe living environment, which in turn enhances tenant satisfaction and property value.Community BuildingResidential property management offers the unique opportunity to foster a sense of community among tenants. Organising community events, creating shared spaces and promoting neighborly interactions can enhance tenant satisfaction and retention. Building a strong, supportive community within residential properties across Dubai can lead to a more pleasant living environment and higher tenant loyalty.Lease Terms and RegulationsResidential leases in Dubai are primarily governed by Law No. 33 of 2008, which amended some provisions of Law No. 26 of 2007. Residential leases typically follow a standard format with less room for negotiation compared to commercial leases. Most residential leases are for one year, with automatic renewal unless otherwise specified.The Real Estate Regulatory Agency (RERA) sets guidelines for rent increases, aimed at protecting tenants from sudden and steep hikes.For residential leases, tenants must usually provide:Passport copies and visa pagesEmirates ID (for UAE residents)Security deposit (usually equivalent to one month's rent)Post-dated cheques for rent paymentEjari (rental contract registration) certificateConclusionUnderstanding the differences between commercial and residential property management in Dubai is essential for anyone involved in the real estate market. Whether managing a commercial building or a residential apartment, adhering to local laws, maintaining the property and ensuring tenant satisfaction are crucial for long-term success. By familiarising yourself with the lease terms, regulations and necessary documentation, you can navigate the Dubai property market with confidence and achieve your investment goals. 

Nestled in the heart of Dubai, Jumeirah Lakes Towers (JLT) stands as a beacon of modernity and opportunity, making it an ideal location for businesses of all sizes. If you're looking for offices to rent in JLT in 2024, this is your guide!An Introduction to Jumeirah Lake Towers (JLT)With its strategic location and vibrant business ecosystem, JLT offers a dynamic environment for growth and innovation. Whether you're a startup looking to make your mark, an SME aiming to expand or a multinational corporation seeking a strategic hub, JLT has the perfect office space for you.JLT's appeal isn't just in its stunning high-rises and scenic lakes, but also in its status as a free zone managed by the Dubai Multi Commodities Centre (DMCC). The DMCC license is a gateway to a multitude of business opportunities, offering an array of benefits including 100% business ownership, tax exemptions and a seamless company setup process. From finance and technology firms to trading and consultancy businesses, JLT is home to a diverse array of industries, fostering a collaborative and innovative business community.Join us as we explore why JLT is more than just a place to work—it's a thriving business ecosystem designed to elevate your company's success and explore our portfolio of offices for rent in JLT. Why JLT is an Ideal Location for Your Business1.Strategic LocationOne of the biggest advantages of choosing offices for rent in JLT is its strategic location. JLT is conveniently situated along Sheikh Zayed Road, providing easy access to major business hubs like Dubai Marina, JBR and Downtown Dubai. The proximity to two metro stations, numerous bus routes and major highways ensures that commuting is hassle-free for your employees and clients alike.2.State-of-the-Art InfrastructureWhen you choose offices for rent in JLT, you benefit from world-class infrastructure. The area boasts modern high-rises equipped with advanced facilities, high-speed internet and cutting-edge security systems. These amenities are designed to support the operational needs of any business, ensuring smooth and efficient daily operations.3.The DMCC License: Unlocking OpportunitiesBenefits of the DMCC LicenseJLT is a free zone managed by the Dubai Multi Commodities Centre (DMCC), which offers a plethora of benefits for businesses. The DMCC license allows for 100% business ownership, full repatriation of profit and exemption from personal and corporate taxes. Additionally, the licensing process is streamlined and efficient, making it easier for businesses to establish themselves quickly.Diverse Business OpportunitiesWith a DMCC license, a wide range of businesses can thrive in JLT. The area is particularly attractive to finance and technology firms, trading companies and consultancy businesses. The diverse business landscape fosters a collaborative environment, where companies can network, partner and grow together.Types of Businesses That Flourish in JLTFinance and Technology FirmsThe robust infrastructure and strategic location make JLT an ideal spot for finance and technology firms. The availability of modern office spaces for rent in JLT ensures that these businesses have the facilities they need to operate at peak efficiency.Trading CompaniesJLT's status as a free zone and its proximity to major trade routes make it a prime location for trading companies. The ease of doing business with a DMCC license and the presence of like-minded businesses create a thriving trading ecosystem.Consultancy BusinessesConsultancy firms benefit greatly from offices for rent in JLT due to the area's dynamic business environment and excellent connectivity. The high-quality office spaces and networking opportunities make JLT a preferred choice for consultancy businesses looking to establish a strong presence in Dubai.Explore Offices for Rent in JLT with CRC Property#1 Almas Tower - View ListingOffice Details:Size: 3,112.82 sq. ft.Parking: 6 dedicated spacesLayout: Fully fitted and partitioned, featuring 3 cabinsAmenities: Private pantry for convenienceAvailability: Vacant and ready for immediate move-inTax: 5% VAT applicableViews: Stunning panoramic views of JLT and beyondAccess: High-speed dedicated elevators ensure quick accessProximity: Close to a variety of restaurants and shopsTransport: Conveniently near the metro stationLicense: DMCC trade license requiredThis spacious, fully fitted and partitioned office in the heart of Jumeirah Lakes Towers (JLT) is perfect for businesses seeking a premium location. With its ample parking, private pantry and immediate availability, it offers both convenience and comfort. Enjoy breathtaking panoramic views and quick access to amenities and transportation. #2 Silver Tower - View Listing Office Features:Size: 631.95 sq. ft.Condition: Newly fitted and furnishedLayout: Includes manager's rooms, a boardroom, open space workstations, and a waiting areaAmenities: Private pantry for added convenienceParking: 1 allocated parking bayCosts: Service charges to be paid by tenantsQuality: Grade A TowerUsage: Fully commercial buildingDiscover an exceptional office space in the prestigious Jumeirah Lakes Towers (JLT). This newly fitted and furnished 631.95 sq. ft. office is designed to meet all your business needs, featuring manager's rooms, a boardroom, workstations in an open space and a welcoming waiting area. With a private pantry and 1 allocated parking bay, it combines functionality and comfort. Located in a Grade A, fully commercial tower, this office ensures a professional and high-quality working environment. Take advantage of this prime office space to elevate your business operations.#3 Jumeirah Business Centre 4 - View Listing Office Features:Size: 1024.19 sq. ft.Condition: Fully furnished with high-end finishesLayout: Includes manager's cabins and a large boardroomParking: Reserved parking availableLighting: Abundant natural light throughout the spaceAmenities: Access to common building amenitiesAmbiance: Spacious unit with great views of the lake and Jumeirah IslandsZone: Located in the DMCC Free ZoneLicense: Free zone license requiredThis premium, fully furnished 1024.19 sq. ft. office in Jumeirah Lakes Towers (JLT) is designed for businesses that value quality and convenience. The high-end finishes, manager's cabins and large boardroom create a professional and impressive workspace. Reserved parking and plenty of natural light add to the appeal, while the spacious unit offers stunning views of the lake and Jumeirah Islands. Situated in a DMCC Free Zone building, this office provides access to common amenities and requires a free zone license, making it an ideal choice for businesses looking to thrive in a prime location.About CRC Property CRC Property is a leading commercial brokerage in the UAE, renowned for its expertise and comprehensive services in the real estate market. With a specialised team dedicated to Jumeirah Lakes Towers (JLT), we offer unparalleled support in leasing and sales within this dynamic area. Our JLT experts possess in-depth knowledge of the local market, ensuring that our clients receive the best advice and opportunities tailored to their specific needs. As the largest commercial brokerage in the UAE, CRC Property combines extensive industry experience with a client-centric approach, making us the go-to choice for businesses seeking premium office spaces in JLT. Our commitment to excellence and personalised service sets us apart, providing a seamless and efficient experience for all your commercial real estate needs.