What to Consider When Choosing a Commercial Property in UAE

What to Consider When Choosing a Commercial Property in UAE
Real Estate Weathi Logo
December 5, 2020

The UAE is a growing and diversified market. A developed economy that offers a favorable business environment and world-class infrastructure.

According to the World Bank report “Ease of Doing Business” rankings, UAE placed 25th position globally for starting a business and it’s proven that UAE is a perfect place to establish your new venture.

When choosing commercial property in the UAE for your business, there are certain factors you need to consider before selecting one.

Some of the main factors are:

       Choose the area that optimizes your suitability, convenience, and costs

       Think strategically about whether to buy or lease the property

       Primary focus on your budget

       Litigation matters

       Getting help from experts

Choose the area that optimizes your suitability, convenience, and costs

The primary & most important thing that you need to consider is the location of your business premises. It should be convenient & accessible to all your employees, staffs, and customers.

Another important thing to consider is a good transport link and connectivity between the supplier and end-user of your business.

Check these pinpoints below:

a)      Availability of parking facilities

b)      Access to public transport

c)       Study internet connections, cell phone coverage, and air-conditioning facilities

d)      Analyze the neighborhood premises

 

Think strategically about whether to buy or lease the property

         If you are a startup business it is highly recommended to opt for a lease on a short-term basis.

If you are leading a larger or more established business, it could be better to buy a property, especially if you are planning to stay in that area for a longer period.

Tips:

·         When leasing the property the cost is lower and provides the flexibility of changing location.

·         When buying the property it gives you the flexibility to maintain the business, rent out unused space, or sell the property at higher values.

Primary focus on your budget

Before beginning your thought process on establishing the venture, the primary focus should be on the proper budget planning right from the business proposal.

The budget involves some crucial factors like renovation cost, business rates, utilities, stamp duty (in case you are buying), insurance costs, and legal fees.

Watch out for all hidden charges and always be realistic, put at least 30% in your buffer or additional expenses or loss.

 

  Litigation Matters

You should check whether the invested commercial property is free of any old or existing litigation or not and make sure your property is free of any legal implications.

Enquire the owner of the property and check all the legal documents very carefully.

 

    Getting help from experts

Finally, it is important to identify any issues in advance and fix them timely.

Feel free to get helping from experts or any legal counselor to ensure that your investment is legal and follows all regulations.

Choosing a Right Property is a crucial and difficult one but if you make a smart move with all the above tips mentioned you have chances are higher to make your business success.

With Weathi, you have lots of opportunities to choose your dream commercial property in UAE with our featured lists.

Start browsing right away and select your best to fit!

 

What to Consider When Choosing a Commercial Property in UAE
Weathi Logo
Message Weathi

Please fill out the form below and we will get back to you as soon as possible.