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The financial recession that has recently struck the world’s economies has had no adverse effect on Dubai’s real estate market. While the world’s property markets evidence a sharp downturn, the demand for all types of residential and commercial real estate in Dubai and other emirates such as Sharjah, Abu Dhabi, and Ajman is on the rise and the world’s ‘business capital’ is continuing to flourish.
With the unprecedented economic growth and mushrooming of diverse businesses, the demand for Dubai commercial real estate is hitting an all time high. Online search results show that the most searched commercial properties in Dubai include offices, labour and warehouses, commercial plots, shops and shopping centres, and hospitals and clinics. There has also been a growing need for labour houses, given the large groups of labourers in the city. Dubai’s rapidly growing population is a complex mix of peoples of different races and nationalities with varying lifestyle needs. The increased population and its growing needs have paved the way for lucrative consumerism. As businesses cash in on the situation by increasing their production, the need for bigger spaces results in a heightened demand for warehouses in Dubai. This is why warehouses have become a major industrial segment of commercial real estate in Dubai and the world over. Also, offices in Dubai, from downtown high rises to suburban office malls, are a huge specialty in the business of commercial real estate. Factors that determine the value of an office space include location, economics, demographics, and traffic flow. Dubai presents a wide range of offices for rent and sale, ranging from small to big and basic to luxurious furnished offices. With Dubai’s commercial real estate market set to remain buoyant in the coming years, buying, selling, or renting an office, a labour house, or warehouse continues to be a profitable venture. |
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