Planning to sell a commercial property in Dubai? Whether you want to cash in your investment property for a profit or get a bigger and better commercial space for your business, the top real estate companies in Dubai 2021 can help you realize your goals. If you have never sold or leased commercial properties in the city before, you need professional guidance to get through the process, which can be complex and riddled with strict regulations. Here, we are going to look at some of the crucial aspects of selling commercial properties in Dubai.
The future of commercial property according to the top real estate companies in Dubai 2021
Dubai is often described as a living, breathing city that never stops changing and growing. Being a financial hub, where investors from around the world flock, this is the place where businesses of all kinds can thrive. Each day, a new business opens here, be it in the form of an entertainment facility, shopping center, child care center, education facility or something else. That is why commercial spaces are always in huge demand. According to the best real estate companies in Dubai, this demand will only keep increasing as the years go on. To meet this constantly increasing need, commercial property agents in the city are actively searching, promoting, and finalizing lucrative deals for sellers and buyers.
Defining commercial real estate as per the best real estate companies in Dubai
An agency real estate Dubai will describe commercial property as a piece of real estate that is purchased or leased for business and trade functions. A commercial property is designed and allocated exclusively to facilitate activities related to a business. Commercial real estate is available in many forms including:
- Industrial structures
- Office spaces
- Retail spaces
- Buildings that serve as hotels
- Hybrid properties that feature both residential and commercial spaces
Commercial properties can sport various architectural styles based on the purpose they serve. With the help of the top real estate companies in Dubai 2021, you can not only find suitable properties that serve your needs in terms of location, space, purpose and current market conditions, but the experts can also help you sell such a property.
Tips to help you sell or lease a commercial property in Dubai
As a property investor, you can make a handsome income from selling or leasing one or more commercial properties. While selling a commercial property will help you get a lump sum amount at once, leasing or renting it can help you generate a steady cash flow for months or years. Here are a few tips that will help you get started on the right note:
Identify your target audience:
Before you start looking for buyers or tenants for your commercial property, you need to figure out for whom the property will be ideal. For example, if you have a property that serves as a warehouse, you cannot approach buyers who are looking for retail spaces. On the other hand, you should decide whether you want to sell your property to an end user or an investor. The best real estate companies in Dubai can not only help you figure out who your target audience is, but they can also help you find them.
Make sure the property is in great condition:
It goes without saying that a well-maintained property will fetch you more potential buyers and better deals than a rundown property that has not been taken care of in ages. A reputed agency real estate Dubai will always advise you to upgrade your commercial property or at least do the necessary repair works before putting it on the market. These days, it is also crucial to make environmentally conscious improvements, which not only adds value to the property, but also creates a good impression. It can be something simple like switching to energy-efficient light bulbs or insulating the property.
Find a trusted agency real estate Dubai to guide you:
Since Dubai’s commercial real estate sector is fiercely competitive, hiring a reputed and reliable real estate agency can be a huge help. The professionals can help you by evaluating and valuing your property, putting the property on the market, finding suitable buyers or tenants, fixing the best deal, and finalizing the paperwork. Though you may think that hiring a real estate agency will cost you, the value they add to the process makes the investment worth it.
Understand VAT requirements:
In Dubai, around 5% VAT (value-added tax) is imposed on the supply of commercial property. Here, the word “supply” can mean both selling and leasing, and if the payment is made in installments, VAT can be paid with each installment. Furthermore, the supply of commercial property is taxable, which means the VAT you will pay can be recovered in its entirety. Abiding by the tax laws and regulations is absolutely imperative. If you are not aware of all the regulations, it would be wise to hire one of the top real estate companies in Dubai 2021.
Get in touch with RiseUp when selling or leasing your commercial property
Dubai’s commercial real estate sector is booming right now, and it is expected to flourish even further in the next few years. That is why both seasoned investors and rookies who are planning to get into the action will find this the ideal time. No matter which category you fall under, you can make the most of the opportunities by hiring RiseUp, one of the best real estate companies in Dubai.
As one of the most renowned real estate agencies in the city, RiseUp is known for closing high-end deals. Recently, in fact, RiseUp helped a renowned international brand find commercial retail space in the Dubai Mall. If you want to be a part of RiseUp’s esteemed clientele and reap the benefits of having some industry pros by your side, make sure to get in touch with us. Find out more about how we can help you buy or sell commercial real estate in Dubai.