Being a successful commercial real estate owner in Dubai means you are in the big leagues and you earn the big bucks. However, getting to that stage is not easy. As an investor, owning the right commercial property is simply half the job. To make real money, you first need to make that property seem valuable in the eyes of the tenants. So, how do you do that? As the top 10 real estate companies in Dubai 2022 will tell you, the first step is to start thinking from the tenant’s perspective. This will help you figure out what the tenants want in a commercial property and offer the same.
The top 10 real estate companies in Dubai 2022 reveal the qualities of a great commercial property
Dubai’s commercial real estate sector is booming right now, and market predictions show that it will continue to thrive in the coming years. That means commercial properties will be in high demand. To make the most of it, owners first need to understand what their target audience wants. Tenants put a lot of time and research into finding the perfect commercial property for rent or lease. According to the top property management companies in Abu Dhabi and Dubai, certain attributes always make the good commercial properties stand out. Here are a few of those qualities that tenants always look for:
Proximity to the city:
When looking for office spaces, companies generally tend to go for commercial properties that are located in the city center. Busy and populated areas are good for business and the workforce. That is why Downtown Dubai is one of the most sought-after locations in the city for commercial properties. According to portfolio management services in Dubai, commercial properties in the city center attract both startups and large enterprises from various industries. Companies that rely on millennial talent are especially on the hunt for properties in these locations.
Access to parking spaces:
While it may seem like an obvious one, you would be surprised to know how many commercial spaces do not have sufficient parking space. As the top property management companies in Abu Dhabi report, commercial spaces with easy parking access and reliable vacancy are hard to come by, especially in busy areas. However, this one feature can often make or break a deal. In many cases, on-site parking is a must-have for tenants. That is why the best commercial spaces feature regular or underground parking facilities.
As the top 10 real estate companies in Dubai 2022 will tell you, a commercial property’s historic performance has a significant impact on its value. When leasing a commercial space, potential tenants always research its capital growth performance and yield to determine its viability for their business. They always go through the historical background of the asset because it offers them a clear picture of the asset’s strengths and weaknesses. If you are planning to put your commercial property up for rent or lease, make sure to take its past performance into account.
It goes without saying that tenants always prefer commercial properties in areas that have good infrastructure such as roads, airports, hospitals, links to public transportation and more. Being one of the most advanced cities in the world, Dubai boasts excellent infrastructure. Since the real estate sector is the backbone of the city’s economy, the government plays an active role in facilitating progress. Numerous initiatives have been taken to improve infrastructure and aid the commercial real estate sector. Portfolio Management Services in Dubai rely on this when managing commercial properties for their clients.
Today’s society and business environment is driven by technology. Considering how much we rely on technology on a daily basis, it is obvious that it plays a crucial role in commercial property as well. Before you start promoting your commercial property to attract tenants, make sure the property is compatible with all the latest technologies that businesses require today. The most basic example of that would be internet connectivity. If your commercial property cannot offer access to the internet (be it due to its location or poor building maintenance), tenants are going to consider that a red flag. That is why the top property management companies in Abu Dhabi and Dubai always focus on making their properties tech-compatible.
Open floor plan and outdoor areas:
This one applies to a range of different commercial spaces. More and more companies are moving away from cubicle-styled offices. That is why it is important for commercial real estate owners to offer open floor plans that allow tenants to make unconventional arrangements. Open floor plans offer a higher degree of flexibility to the tenants. So, this feature makes the property seem attractive and valuable instantly. The same can be said about open areas. Tenants often look for commercial properties that come with a garden or an open space with a natural component. Such properties are ideal for creating office spaces as it offers the employees a place to relax during long workdays.
RiseUp, top 10 real estate companies in Dubai 2022, is here to help you
If you are struggling to manage or promote your commercial property, consider hiring one of the best portfolio management services in Dubai. Since its inception, RiseUp has helped investors and commercial property owners by offering specialized services. Being one of the top real estate agencies in the city, RiseUp deals with both residential and commercial properties. However, we have a keen focus on the commercial real estate sector, and it is evident in our property management and portfolio management services.
If you are currently experiencing losses with your commercial property, it is time to hire experts who are known for turning the fate of dying businesses. If you want to survive the intense competition in Dubai’s commercial real estate sector, you need experienced professionals by your side. With the support of our competent team, you can elevate your commercial property’s value and viability in the eyes of the tenants. Get in touch with us to know more about how we can be of service.