Tuesday, July 20, 2010

Commercial Leasing of Property in Dubai - A Win Win Scenario

Commercial Leasing of Property in Dubai - A Win Win Scenario

The bustling metropolis that is Dubai is more that just a shopper's paradise and a business hub. The Dubai property market has been witness to several changes in the last couple of years. A rise to dizzying heights followed by a slump and now again a slow rise to its previous stratospheric levels. With the upswing in the global property market and economic scenario, the Dubai commercial property market is once again booming. With the Dubai government creating free trade zones, many multinationals are looking to set up corporate offices in Dubai and this has led to a subsequent demand for commercial properties on lease.

Increasingly Dubai is being seen as a coveted destination for businesses that see value and potential in the desert city. A flourishing economy, geographical location and the availability of freehold commercial property have made the leasing of commercial property in Dubai a viable and attractive proposition. Dubai has an impressive portfolio of commercial developments and projects like the Dubai Internet City, the Dubai Media Zone, and the Dubai International Financial Centre all of which play a seminal role into making Dubai one of the leading commercial hubs in the world.
Business Bay is the latest eye catching development and will be a free zone commercial, business and residential district that will spread over an area of 64 million square feet, with 230 buildings and several skyscrapers that are being likened to Manhattan or Ginza - the business centers for the cities of New York and Tokyo. It will be conveniently located in an area where the Dubai Creek has been extended and next to downtown Dubai and is expected to be fully completed by year end.

As businesses expand, needs change and so do one's office address. Leasing is the way to go and thecommercial leasing of property is the best way to fulfill your requirements without the hassles of investing in property, bothering about taxes, or the stress of looking after the maintenance requirements of commercial premises.

The benefits of leasing commercial property in Dubai are many. There are cost advantages like the lack of trade barriers, corporate taxes and income taxes. Labor costs are competitive and energy overheads are comparatively lower than other countries. There are free zone incentives like high level administrative support, 100% exemption from all import duties and 100% foreign ownership. Energy is inexpensive and abundant and there is freedom from corporate taxation.

Moreover the business environment is unrivalled and conducive to the easy transaction of business dealing. State of the art communications and transportation systems are in place, there is a free enterprise system, the finances and banking sectors are well developed and sophisticated and the lifestyle is cosmopolitan.

Leasing a commercial property in Dubai thus has manifold plus points. One conducts business from state of the art buildings with second to none facilities, premises in prestigious and prime locations, plush comforts, sophisticated amenities and above all a healthy atmosphere to conduct business in.

Paul Watson is a real estate broker and has for long been associated withhttp://Allsoppandallsopp.com He provides real estate advices to commercial leasing of property across Dubai and rest of UAE.