Unlocking Wealth: Navigating Sharjah's Commercial Opportunities in 2023

Sharjah is rapidly emerging as a dynamic hub for investors and entrepreneurs alike. Boasting a strategic location and a steadily growing economy, the new Sharjah area is unveiling a plethora of opportunities for those seeking to capitalise on its commercial market. In this article, we will delve into the key trends shaping Sharjah's business landscape and explore the enticing prospects that await both investors and entrepreneurs as highlighted by Amit Vora, Manager of CRC Property Sharjah.

Opportunities for Investors

Economic Growth and Strategic Location: Sharjah's economic growth has been nothing short of impressive, fueled by diverse sectors such as manufacturing, logistics and tourism. Its strategic location as a gateway between the East and West positions it as an attractive investment destination. Investors can tap into this burgeoning economy to yield substantial returns.

Investor-Friendly Policies: The Sharjah government has implemented a series of investor-friendly policies, creating an environment conducive to business growth. These initiatives aim to streamline processes, reduce bureaucracy and provide a supportive framework for businesses to thrive. This commitment to facilitating ease of doing business is a key driver for investors considering the region.

Commercial Real Estate Initiatives: The commercial real estate sector in Sharjah is experiencing a renaissance, thanks to the government's strategic initiatives. With a focus on creating vibrant business districts, the government is actively attracting new businesses by offering competitive incentives. This includes tax breaks, reduced licensing fees and other perks designed to entice investors to set up shop in Sharjah.

Launch of Mega Projects: The launch of ambitious projects like Aljada and Tilal City has injected a new wave of energy into Sharjah's commercial market. These mega developments not only enhance the city's infrastructure but also provide diverse investment opportunities. Investors can explore sectors ranging from hospitality and retail to residential real estate, contributing to the city's evolution into a modern business hub.

Image: Tilal City - Sharjah 

Opportunities for Entrepreneurs

Reserve Spaces for Innovative Ventures: Entrepreneurs and project owners are encouraged to reserve spaces within the new Sharjah area to bring their innovative ventures to life. Whether it's a tech startup, a boutique retail concept or a service-oriented business, the city welcomes diverse ideas that contribute to the region's development.

Enhancing Quality of Life: The Sharjah government is actively seeking entrepreneurs who can contribute to enhancing the quality of life for residents. From innovative healthcare solutions to sustainable living initiatives, entrepreneurs have a unique opportunity to make a positive impact on the community while building a successful business.

Government Initiatives for Startups: Recognising the importance of startups in driving economic growth, the Sharjah government has introduced various initiatives to support entrepreneurs. This includes funding programs, mentorship opportunities and access to shared workspaces, creating an ecosystem where new businesses can flourish.

Conclusion

In conclusion, Sharjah's commercial market is on an upward trajectory, presenting a tapestry of opportunities for both investors and entrepreneurs. The confluence of a growing economy, investor-friendly policies and visionary projects make Sharjah a compelling destination for those looking to be part of a thriving business landscape. As the city continues to evolve, savvy investors and forward-thinking entrepreneurs stand to reap the rewards of being early contributors to Sharjah's economic success.

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Dubai Commercial Property Market: October 2024 Overview

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.    

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Abu Dhabi's Office Market YTD: Rising Demand and Prime Locations

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. 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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.

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Tecom Group's $463 Million Investment: A Transformative Boost for Dubai's Commercial Real Estate

Tecom Group has made headlines with its substantial $463 million investment to acquire and develop key commercial and industrial properties in Dubai. This strategic move includes acquiring two office buildings in Dubai Internet City and a significant land parcel in Dubai Industrial City from Dubai Holding Asset Management (DHAM). Additionally, Tecom will develop six new office buildings in Dubai Design District (d3) to cater to the burgeoning demand from the design, fashion, and creative sectors. This development underscores Tecom's commitment to enhancing Dubai's commercial real estate market and supporting its growth prospects.Tecom Group's Acquisition of Two Grade A Office TowersOne of the cornerstone elements of this investment involves acquiring two grade A office buildings in Dubai Internet City from DHAM for Dh420 million. These properties, offering a gross leasable area of 334,000 sq ft, are highly occupied and house esteemed regional and international tech companies. The high occupancy levels and premium tenant mix indicate strong, stable returns for investors, making this a highly attractive investment proposition.Moreover, Tecom's acquisition of 13.9 million sq ft of industrial land in Dubai Industrial City for Dh410 million from DHAM is a clear signal of confidence in Dubai's ongoing economic growth. This expansion opens up new opportunities for businesses seeking premium industrial spaces, further enhancing Dubai's appeal as a global business hub.Dubai Design District's Dh689 million Investment A significant aspect of Tecom's strategy involves Dubai Design District (d3), a subsidiary of Tecom Group, acquiring 629,000 sq ft of gross floor area for Dh136 million as part of phase two of the d3 Design Quarter development. Additionally, Tecom will invest Dh689 million to develop six grade A office buildings with a gross leasable area of 503,000 sq ft, with completion targeted by 2028.This development is driven by strong demand from the design, fashion, and creative industries, highlighting a growing market need. The creation of high-quality office spaces in d3 is expected to attract a wide range of creative businesses, further cementing Dubai’s reputation as a center for innovation and design.Why This Investment Matters & What This Means for Dubai's Business Landscape Tecom Group’s strategic investment reflects a profound confidence in Dubai's commercial real estate market. For investors, the acquisition of high-occupancy properties in prime locations like Dubai Internet City and the development of new office spaces in d3 offer promising returns and long-term value. The focus on expanding industrial space in Dubai Industrial City aligns with broader economic trends, supporting the city's role as a logistics and manufacturing hub.From a business perspective, the influx of new, high-quality office spaces caters to the increasing demand from sectors that are pivotal to Dubai’s diversified economy. The design, fashion and creative industries, in particular, will benefit from state-of-the-art facilities, fostering an environment of creativity and innovation.Moreover, Tecom's investment aligns with Dubai's vision to be a leading global city for business, tourism and innovation. By enhancing the commercial real estate landscape, Tecom is not only supporting current economic growth but also paving the way for future opportunities. This strategic move positions Dubai as an attractive destination for international companies looking to establish or expand their presence in the region.Tecom’s CEO, Abdulla Belhoul, emphasised that this "ambitious Dh1.7 billion ($463 million) strategic acquisitions and development plan will capitalise on the unique opportunities that Dubai’s commercial real estate market offers.” This statement encapsulates the essence of Tecom's investment strategy: leveraging Dubai’s strengths to create value and drive sustainable growth.In conclusion, Tecom Group's $463 million investment is a transformative step for Dubai's commercial property market. It offers robust opportunities for investors and businesses alike, reinforcing Dubai's status as a premier global business hub.Are you looking to invest in Commercial Property in Dubai? Browse our portfolio.  

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Dubai Real Estate Update March 2024 by Behnam Bargh

Since the start of 2024, Dubai's real estate market has remained vibrant, with a total of 31,206 transactions recorded. These transactions amounted to a significant total worth of AED 93.93 billion as per data from DLD.The transactions included the sale and purchase of 2,513 buildings and 3,313 plots of land, reflecting sustained activity and interest in both residential and commercial properties across the emirate.We are seeing investors continue to show confidence in Dubai's real estate sector, drawn by its strategic location, robust infrastructure and diverse range of property offerings. The market's resilience and ongoing developments indicate positive momentum for the remainder of the 2024.Merging of Nakheel & Meydan Under Dubai HoldingRecently, HH Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced that two of the largest developers, will be merging under the ownership of Dubai Holding.We at CRC believe that by joining forces, Meydan and Nakheel can leverage their respective strengths to optimise resources, streamline processes and implement best practices across all stages of project development. This strategic consolidation brings together two prominent entities renowned for their expertise and innovation in urban development.Furthermore, the combined wealth of experience and knowledge from both entities is expected to catalyse innovation in design, construction and sustainability practices.Collaborative efforts may yield groundbreaking solutions for urban challenges, enhancing the livability, functionality and aesthetic appeal of Dubai's built environment.Commercial Real Estate ForecastsThe commercial real estate market is forecasted to witness continued growth, particularly in sectors such as hospitality, F&B, health and wellness and the industrial market.We at CRC hope to see an increase of new office supply entering the market by developers this year, to cater to the high demand we are witnessing, as Dubai remains a preferred destination for regional and international businesses seeking expansion opportunities.

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KEZAD Group Embarks on AED 621 Million Investment to Expand Warehousing Capacity

In an exciting announcement, KEZAD (Khalifa Economic Zones Abu Dhabi) has set the stage for significant growth and innovation with its latest revelation of new warehousing capacity. The move is poised to revolutionise the logistics landscape, providing businesses with enhanced storage solutions and streamlined supply chain operations. Let's delve into the details of this groundbreaking development and its potential implications for the industry.In a significant move to meet the growing demand for warehousing and industrial facilities, KEZAD Group, the leading operator of integrated economic zones, has announced the commencement of a massive development project. With a substantial investment of AED 621 million, KEZAD Group is set to add more than 250,000 square meters of pre-built industrial and logistics facilities by the end of 2025. This ambitious undertaking is poised to enhance the group's total warehousing capacity by an impressive 43%, solidifying its position as a key player in the economic development of the emirate of Abu Dhabi.Meeting Market Demand:The decision to embark on this substantial investment comes in response to the robust demand for warehousing and pre-built facilities across both free zone and domestic industrial areas in Abu Dhabi. As businesses continue to evolve and expand, the need for modern, scalable and strategically located storage solutions becomes paramount. KEZAD Group's commitment to meeting this demand reflects its dedication to supporting businesses in their growth journey and contributing to the economic vibrancy of the region.Project Highlights:Investment Breakdown: The AED 621 million investment signifies KEZAD Group's confidence in the economic potential of the region. This substantial financial commitment underscores the group's belief in the long-term growth and sustainability of Abu Dhabi's industrial and logistics sectors.Warehousing Capacity Expansion: The construction project aims to deliver more than 250,000 square meters of additional warehousing capacity. This expansion is strategically distributed across two key areas, including over 97,500 square meters in Khalifa Industrial Area (KEZAD Al Ma’mourah A & B) and more than 153,000 square meters in ICAD 3 (KEZAD Musaffah). The careful selection of these locations ensures accessibility and convenience for businesses operating in different sectors.Timeline for Completion: With a deadline set for the end of 2025, KEZAD Group is working diligently to bring these new phases online promptly. The accelerated timeline emphasises the group's commitment to providing timely solutions to businesses in need of modern and efficient warehousing facilities.Economic Impact:As the largest operator of integrated economic zones, KEZAD Group's expansion initiative is not only about increasing warehousing capacity but also contributing to the overall economic development of Abu Dhabi. The project is expected to generate employment opportunities, attract investments and facilitate smoother trade operations, further solidifying Abu Dhabi's position as a hub for commerce and industry. 

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