How to choose the right commercial property for your business?

How to choose the right commercial property for your business?

Wednesday 30 August 2023Wed 16 Feb
How to choose the right commercial property for your business?

Planning to expand your business?

What better place to consider than the urban hub itself - Dubai! From star-studded architecture, to state-of-the-art amenities, to seven star hotels, there’s quite literally nothing you wouldn’t find in Dubai!

And did you know that commercial properties in Dubai have a return on investment of over 10-12%?

So, if you’ve been thinking of it, here are a few things you might want to look out for when choosing the right space for your business. After all, your business’ identity is defined by the type of property and where it's located.

Plan and define your business’ needs!

Each location is accessible to a certain area, or caters to a certain type of industry, so its important to define and plan your business’ needs. Begin by assessing your business's requirements.

Consider factors such as the type of business you operate, the nature of your operations, the number of employees, and the specific amenities you need. Identifying your needs will provide a clear foundation for your property search.

Choose the right location!

You might think cash is king, but trust us when we say ‘location is king’ we mean it!

The importance of location cannot be overstated. Your commercial property's accessibility, proximity to customers and suppliers, and visibility all impact your business's success. We suggest researching local demographics, foot traffic, and surrounding businesses to ensure the location complements your business goals.

For example, if your business focuses on manufacturing, communities like Dubai Investment Park, Jebel Ali or Dubai Production City are ideal, as they mostly have factories and manufacturing plants.

Plan your layout and space ahead!

If you’re planning to move into a certain commercial unit, you need to envision working there, and the type of space you want to build within it - if it meets your needs, then consider evaluating the property's layout and how well it can accommodate your business's workflow and spatial requirements.

Consider factors like office space, storage, meeting rooms, and any specialised areas your operations demand.

Budget ahead

Set a realistic budget that encompasses not only the property's purchase or lease costs but also ongoing expenses like utilities, maintenance, and property taxes. Striking a balance between affordability and your business's needs is crucial, and this will help you sustain your business too!

Consider your business’ growth potential!

Anticipate your business's growth trajectory and select a property that can accommodate future expansion. Avoid outgrowing your space too quickly by opting for a property with flexible leasing options or room for expansion.

Or consider looking for a location that has larger spaces, so if its the location you’re after, you can relocate within the community.

Consider legal and zoning laws

Before going ahead with any unit, ensure the property complies with local zoning laws and regulations, as certain areas may have restrictions on the types of businesses allowed.

Verify that the property has all necessary permits and approvals with your real estate agent and make sure to legally back your business up.

Finding the perfect amenities and infrastructure

Who doesn’t enjoy a nice restaurant to grab a bite at, or a cafe for a midday pick me up?

Picture working in a tower or commercial space that offers such amenities or even more. Start by evaluating the availability of essential amenities such as parking, public transportation, and access to major roadways. Adequate infrastructure ensures smooth operations and convenience for both employees and customers, and who doesn’t love the extra comfort?

Research the market

Before investing, conduct thorough market research to understand current market trends, rental rates, and property values in your desired location.

This knowledge empowers you to negotiate favourable terms and make informed decisions.

Seek professional guidance!

We highly suggest opting for the expertise of a commercial real estate agent and legal professionals who specialise in commercial property transactions. Their insights and guidance can navigate you through the complexities of the real estate process.

Want to know more?

If you’re keen to know more, or are looking for the perfect property, and get in touch with our team of experts!

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