Most often, a person simply does not have enough funds to buy real estate necessary for business or residence. Therefore, most have to go to lease agreements. For office real estate in Dubai, rental stability remains a major issue.
It is also noticeable that landlords are responding adequately to the current sluggish state of the market, both within the real estate market and throughout the economy.
Average rental prices have remained “virtually unchanged across all major urban market sectors and free zones,” according to the latest round-up from real estate agency Cluttons.
Rising rental prices have been seen in areas like Al Garhoud, where high-end office rentals have risen from Dhs 95 last year to Dhs 110 per square foot (0.9 square meters) at the end of the third quarter this year. of the year. This list also includes Bur Dubai, where rental prices in the low-cost segment have increased by 20% to 60 Dhs per square foot, according to Cluttons.
The drop in office rental prices occurred in the Jumeirah Lake Towers area, "where the average rental price dropped to Dhs 70-180 per square foot in the third quarter from Dhs 80-200 in early 2015."
The price decline was also influenced by the emergence of new properties on the market, namely three 45-storey high-rises on Mazaya Business Avenue, “put on the market at Dhs 65-70 per square foot on an all-inclusive basis.
However, the premium areas are not subject to the dominant trends - the cost of renting office space in Emirates Towers is kept at about 310 Dhs per square foot, and in The Gate District - 225 Dhs per square foot.
Overall, “rental demand has declined ... however, there are positive trends in selected markets, reflecting overall business activity,” said Steven Morgan, CEO of Cluttons Middle East.
"Banks, financial institutions, law firms, construction and media companies make a list of the most active groups of tenants, among them the rent of offices in the territory of free economic zones remains popular."
The state of the office rental market is likely to remain "sluggish", which is an indicator of the "uncertain" growth of the global economy. Office rental demand will decline over the next 12 months. “This is happening when land prices in market segments such as Business Bay are becoming more modest, and as a result, the economic efficiency of some previously suspended projects, which are now experiencing a resumption of construction activity, is increasing,” says Faisal Durrani, head of research at Cluttons. The cost of land in Business Bay is now Dhs 225-350 per square foot.
"The market's ability to accept this new space is likely to dampen the rate of renewed growth in office rental prices."
The United Arab Emirates was a mysterious country twenty years ago, and now it is one of the best tourism destinations on the planet. The UAE attracts tourists and travelers with luxury hotels, gorgeous artificial beaches and islands, shopping, interesting excursions and attractions.
The UAE is located in the Middle East. The state's neighbors are Saudi Arabia and Oman. Until 1971, the Emirates were ruled by Great Britain until they gained independence on December 1. From that moment on, the development of the state began, the construction of a modern society began. The quality and all-round development was facilitated by oil and gas deposits, which became an excellent start for the region.
In the early 1990s, the UAE helped liberate Kuwait from Iraqi dictator Saddam Hussein. What has earned recognition from the European and American society. At the moment, the state is intensively developing and helping to promote other countries and regions of the Islamic world. The resorts have quality infrastructure: luxury hotels, shops, beaches and entertainment.
In winter, the Emirates are warm and sunny, and the air warms up to + 30º, while in summer - up to + 45º. The best time to visit the Emirates is from October to May, when the weather is comfortable and the water in the Persian Gulf is warm. In the summer season, due to high humidity, heat is poorly tolerated.
Direct flights to Dubai from national airports are constantly made from Moscow and St. Petersburg. Budget planes fly from European countries to Dubai, which differ in reasonable prices and good conditions for the flight.
Every day there are flights from the capital of Russia to Abu Dhabi. Several There are charter flights from Russia to the UAE, which are famous for their frequent frequency. The average flight time is five hours.
There are regular flights from Kiev to Dubai, both direct flights and flights with transfers in Moscow, Vienna, Frankfurt, Munich, Istanbul or London. Residents of Belarus from Minsk can also go to Dubai, either directly or with a transfer in Moscow or Kiev.
Abu Dhabi is considered the capital of the Emirates. Located on the edge of the desert, this metropolis resembles a fabulous oasis. The luxurious seaside resort attracts tourists with excellent shopping, exotic excursion programs, jeep safaris and a trip to the Bedouin village.
The seaside resort of Sharjah is special in that it is forbidden to drink alcohol, which is why the nightlife in the city is very boring. All this is fully compensated by affordable prices, excellent conditions for windsurfing, the most beautiful underwater world, cozy coffee shops. In Sharjah, you should definitely admire the King Faisal Mosque, the monuments to the Koran and progress, and visit the Golden Souk market.
Rest in the United Arab Emirates means comfortable beaches, interesting excursions, modern and historical sights. But before visiting the UAE, you should study the rules. Dubai is a popular resort with official laws and local traditions.
The majority of the population of Dubai are migrant workers from outside. You can meet with local residents in the civil service, in the service sector in leadership positions. When communicating with them, you must follow the official and traditional rules of conduct in Dubai for tourists. The main thing is not to be intrusive. Do not try to meet on the street if you need help or advice on a case, the indigenous and visiting population of Dubai will always answer with good advice.
What you need to know about communicating with local residents in Dubai, basic rules:
Dubai has issued rules of conduct for tourists and can be obtained from the customs area of international airports. If you or your acquaintances are lost in shopping centers, amusement parks, first approach the police. They know English, help you find the right person with the help of surveillance cameras, and give directions. You should ask local residents only as a last resort.
The UAE has a division of public transport - general and women only. To implement the latter, only carriages for the weaker sex work in the metro, there are taxi services that transport only women and girls. According to the rules of behavior of tourists in Dubai in public transport, men are prohibited from entering such subway cars, joint trips on "female" taxis.
Do's and don'ts on the UAE metro, taxi and bus:
For tourists in Dubai, all conditions for comfortable movement are created. There are not so many "female" cars in the metro, they can be distinguished by the corresponding plates and drawings, the color is pink. Independent travelers will not have any problems with the joint movement of mixed groups.
There are two types of beaches in the country - public and hotel. For the former, rules of conduct for tourists have been created; in Dubai, they also apply to hotel beach areas. Before going to the sea, in the waters of the Persian Gulf, you need to know them in more detail. There is a beach police in the UAE, in case of minor violations, they will first give a warning, but then a fine or arrest may follow.
For holidays in the United Arab Emirates, they prefer to buy ready-made tours. Independent travel to this country is possible, but this requires comprehensive preparation. Buying a ticket to the UAE from a travel agency does not always guarantee the best price. Therefore, it is recommended to find out which tour operators in Dubai offer package tours, how they differ.
Tour operators are organizations that organize package tours themselves. Their representatives agree on the reservation of a certain number of places in hotels in the UAE, purchase air tickets for charter flights to Dubai airport. This approach allows you to achieve a relatively low price for tours.
Travel agencies are intermediaries that offer these packages to tourists. They conclude contracts with tour operators in Dubai, the latter give them good discounts. The price of the tour at the travel agency will not always be higher at the direct seller. This is influenced by several factors.
What you need to know before buying a tour to the UAE:
The price is influenced by the season. The highest cost of travel to the UAE is in winter, during the New Year holidays. For shopping, they choose January-February, when discounts begin in the country. At this time, you can buy gold jewelry, branded clothing, shoes.
About 20 leading tour operators work in the tourism market. Everyone offers tours in Dubai, but the difference between these offers can be big. Therefore, everyone needs to be studied, to find out the features of his work. Additionally, they read reviews of tourists. But some of them may be subjective.
This is one of the largest companies operating in the field of overseas tourism. Since 1995, she has been offering tours to 34 countries. Advantage - a network of travel agencies working under this name has been created. In addition to standard tours to Dubai, the tour operator offers excursion programs, exotic travel. Here you can organize corporate or business events.
Features of offers from Coral Travel in the UAE:
People tend to look for the most favorable place to live. What can we say about entrepreneurs who can suffer huge financial losses, including bankruptcy, if they choose the wrong region for doing business.
In the modern world, borders have become so blurred that such a concept as "citizenship" is no longer fundamental when choosing a country to build your business empire. Free economic zones are the result of geopolitical processes. The project of attracting foreign investors by creating a free economic zone was so successful that many countries began to use it to develop their economies. And, naturally, the United Arab Emirates could not stand aside. It was Dubai that became the pioneer of this sector, because the Jebel Ali SZE appeared on its territory back in 1985. Actually, from that moment, the beginning of the rapid development of the region can be counted.
Despite its ancient history and culture, this region has not always been a powerful world center. Before the presence of black gold on the territory of the emirate, both the ruling dynasty and local residents had to be content mainly with income from trade, fishing and pearl mining.
Everything changed with the start of oil production. The higher the prices for black gold on the market, the faster the welfare of the region's residents grew. The Sheikh of the emirate began to gradually solve the key problems of his subjects: drinking water, housing conditions, food content, etc. In the 1980s, the government began to consider that it could be detrimental to the economy to be completely dependent on the pricing of petroleum products. Thus, a bill was developed to create the first free economic zone in the country - "Jebel Ali".
Sheikh Maktum, who replaced Sheikh Rashid, continued the work of his predecessor. He supported the work of the first free economic zone and stimulated the creation of new free economic zones in the region. Industry (oil, metallurgical), trade, including international, developed along the way. And the new ruler realized that tourists can give a good income to the country's treasury. The construction of original hotels, the beautification of beaches, the restoration of old sights and the construction of new ones led to the fact that travelers from all over the world were in a hurry to see the Arab miracle.
In 2006, the government changed again, and Sheikh Mohammed took the place of the deceased Maktum. He became the founder of many ambitious projects, but the grandiose construction was interrupted by the 2009 crisis. It took the government several years to breathe life into the country's economy and, although some projects remained frozen, some entrepreneurs suffered losses and left the Dubai market, it can be argued that today the region has fully recovered from the crisis and is ready to continue its rapid takeoff.
Today's Dubai boggles the imagination of even the most seasoned travelers: buildings reaching into the sky, green areas, air-conditioned bus stops, perfect cleanliness and other unique features. Businessmen also understand how ideal a modern city is for doing business.
Firstly, there are several dozen free economic zones operating in the emirate, including narrow-profile ones. The most famous and beloved by businessmen is the oldest zone in the country "Jebel Ali". Despite the fact that this is a rather expensive FEZ and it can take several weeks to register a company here, entrepreneurs often seek to open their company here, as this adds weight in the business community and allows them to acquire real estate throughout Dubai, and not only in the zones allocated for foreigners.
Secondly, Dubai is a haven for business people in tourism-related businesses. Millions of tourists visit the UAE every year, the main stream falls on Dubai. Hotels, leisure activities, restaurants, shopping and entertainment centers, souvenirs - entrepreneurs have unlimited opportunities to make money. The only drawback is the need to attract a local partner if the activity is carried out by a foreigner outside the FEZ, but this is not such a big obstacle either.
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