Dubai is one of the best – if not the best – places in the world to start a business. The UAE emirate has long-established itself firmly as a global leader in innovation, with the city situating itself as a hyper-connected, pro-business hub that is the perfect middle-ground between the East and the West – offering the best of both regions.
Add to that Dubai’s world-class infrastructure, low tax environment, reputable regulations, convenient time zone and business-friendly laws, and you have yourself the ideal breeding ground for lucrative investments, booming start-ups and unmatched business opportunities.
And, as you’d expect, Dubai has some of the most well-developed corporate facilities in the world, boasting some of the best offices you’ll ever have the pleasure of seeing. And now that the emirate has introduced flexible office rent financing payments, businesses have more options than ever when seeking out commercial spaces to set up shop.
If you’re looking for a new workspace now that the new rent schedules have been implemented, this article looks at the most popular areas to rent commercial properties in Dubai.
What is the new rental agreement?
Put as simply as possible, there is an oversupply in the commercial property sector of the real estate market, meaning that landlords are struggling to get and retain tenants. This combined with the COVID-19 pandemic’s negative impact on the economy has prompted commercial landlords in the UAE to offer more flexible rent schedules in an attempt to retain tenants and a steady income.
In short, this means that instead of the tight, rigid single block leasehold payments commonly found in the commercial real estate sector, an easy-pay rent schedule will be adopted to benefit both tenant and landlord. Business owners can now pay 12 monthly rental instalments instead of one- or two-time annual rent cheques.
Naturally, this more flexible rental agreement has been celebrated by every business owner in the UAE, as it allows them to benefit from better or increase cash flow that can be used in other aspects of the business – like upgrading an office fit out for increased productivity, better functionality and a more updated look.
More importantly, it allows companies access to prime property around the UAE. Location is everything in the business world. But the better the property, the more rent you’ll have to pay – which has hindered many businesses from being able to occupy spaces in enviable locations around Dubai.
However, now that companies no longer have to make one large payment upfront for rent, they can afford bigger and better offices in the emirate.
Top 5 popular areas to rent offices in Dubai
Dubai is a strong commercial hub in the UAE and has a reputation for providing favourable environments and a supportive legal framework for new businesses to thrive in. As such, business owners have an expansive portfolio of commercial properties to choose from when looking for the best place to set up offices.
My Bayut conducted extensive research and found the top areas to rent offices in Dubai – and we just had to share them with you:
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Business Bay
The ever-popular Business Bay lives up to its moniker and offers exactly what its name suggests. The area is a hub for commercial activity and is the perfect place to foster a successful business in the emirate.
Business Bay is situated in one of the city’s most well-connected locations, adjacent to Downtown Dubai and just 20 minutes away from other popular commercial hubs like Dubai Media City and Dubai International City.
Business owners have their pick of office spaces or shops for rent, as well as a few commercial floors.
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Al Quoz
Second on the list, we have Al Quoz, an area divided into residential and industrial districts. Famed for its warehouses, Al Quoz is a haven for manufacturing companies in the region.
The industrial district of Al Quoz, which include Al Quoz 1, 2, 3 and 4, can be found in the southwest part of the neighbourhood and is home to large clusters of factories, auto shops and labourer accommodation.
This area is particularly great to set up offices in if your business intends to service Dubai Marina and the Jebel Ali Freezone.
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Jumeirah Lake Towers (JLT)
Jumeirah Lake Towers (JLT) is an ideal choice for businesses across almost all sectors, providing versatile world-class office spaces of all shapes and sizes.
One of the highlights of the JLT areas is that it overlooks an artificial lake, offering picturesque views for both the residential and commercial districts. In addition, the area boasts a diverse set of leisure options and provides easy access to the Dubai Metro.
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Deira
Fourth on the list of top areas to rent commercial properties in Dubai is Deira. Home to some of the oldest traditional souks in the emirate, Deira is also one of the most well-connected areas in the city, as it is serviced by a variety of public transportation options.
Deira is touted as one of the liveliest commercial districts in Dubai, with every type of business being found in the area, from hotels to residential rental units and showrooms.
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Bur Dubai
Bur Dubai is a historic district in Dubai, located on the western side of the Dubai Creek and is one of the most sought-after areas to rent commercial property in the emirate.
The bustling commercial district is home to the famed Meena Bazaar, which offers plenty of shops to rent, as well as warehouses and offices. Additionally, the area is also close to the commercial district of Deira, which makes it ideal for those who plan to do business in both districts.
Need help setting up your new office?
We mentioned earlier in this article that the new office rent financing agreement frees up cash flow and capital to be used elsewhere in your business. And we’d highly suggest investing that extra money into your office space.
Once you’ve chosen an area to set up your offices and signed a lease on the perfect workplace for your company, you’ll need to make sure that space is functional, aesthetically pleasing and reflects your business’s brand. To achieve this, you’ll need a well-executed fit out, carried out by a professional team of experts who know exactly what they’re doing.
There are, of course, many reasons to invest in an office fit out, with the main ones being that it improves employee productivity, health and wellbeing, which, in turn, increases your bottom line. It can also attract new clients and retain existing ones, thereby bringing in more business.
If you want to learn more about why office fit outs are important for your company, we cover this topic in more detail in our blog “How Can Office Interior Design Inspire My Team in Dubai?”.
However, if you’ve already decided to undertake a fit out project for your office, whether new or existing and are in the market for a reliable, trustworthy and competent contractor, then look no further because we have you covered.
Contractors.Direct offers a curated database of thoroughly vetted, quality contractors, interior designers and interior architects who can bring your vision to life, on time and on budget. Get in touch with us and we’ll be happy to connect you with the right people for the job.
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