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Facts around Commercial Real Estate UAE
Every year, business world is getting embellished with new trends to ladder up in terms of standards and profit. Since almost every industry is getting obsessed with growth, the commercial real estate remains no exception. Specifically in the UAE, Real Estate Business is no less than a pearl if managed skillfully because the prediction graph of UAE Real Estate show the sharp inclination for coming decades. Facts around Commercial Real Estate UAE
Undoubtedly, it’s more than justifiable because UAE happens to be the focal point for the International Business that gives plethora of opportunities to small business and multinational giants to broaden their horizons. Factors that are more likely to have a great impact over Commercial Properties in Dubai or in UAE are emergence of new business models, growth of technology and increasing urbanization.
Thorough research in this particular domain has notified that some emerging trends are more likely to influence the UAE Real Estate to an extensive level in the Near Future. So let’s delve in to discover more;
Economic Growth
When it comes to an economic growth, it influences in two ways; either shared or collaborative economy. Since the online marketplaces for commercial real estate took over, the traditional commercial real estate owners need to cater to the demand based needs of their clients. It all happened when the online real estate providers for commercial properties started offering more flexible terms for renting retail space and physical office for shorter tenure. Facts around Commercial Real Estate UAE
Since shorter duration contacts are on the high preference, this practice can decline the value of long term tenures. In that case, the best option would be to go with multi-tier leases. In fact, the most suitable approach would be to take the hybrid route that enables the provision of long term leasing and demand based leasing as well.
Two Outcomes of Technological Advancements
Mainly, the technological advancements are supposed to open great opportunities and it serves the same purpose in Commercial Properties as well but it’s also intensifying the competition. Either calls it a side effect or new trilling vibe bolstering up the Real Estate Mania; it’s going to have its impact in some way or the other.
Currently as well as in future, Commercial Real Estate CRE is likely to be considerably influenced with emerging technology trends like Virtual Reality, Artificial Intelligence and Geospatial Technologies. This trend has turned up so lucrative and convenient that one can easily check out the prospective office space with the help of virtual reality without even visit the location physically. There are numerous data analytic tools online that help in determining the perfect tenant mix for either the rental office or retail space. Facts around Commercial Real Estate UAE
Diversified Tenant Mix
You must have come across the one whole floor dedicated to the food court in Shopping Malls. For sure, it happens to be the place where all the food chains gather not to celebrate but to compete. In the years to come, this is tenant mix is about to be even more diversified. For instance; there can be a conflict of interest when the office building demands recreational facilities at some space and the same spot is demanded by the client for some corporate purpose.
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This may head to a sort of cordial negotiation between building owner and clients. For sure, they can work out something justifiable on a professional ground but this thing naturally has to come in the near future.
In a nutshell, UAE is no less than a pearl in the Residential as well as Commercial Real Estate. In fact, the UAE Real Estate Firms got 3.4% growth in the Annual Profit by the end of last Year. Previously, it’s was $3.80 Billion that shot up by 3.4% giving $3.93 Billion. This makes it statistically clear that the Real Estate Industry of UAE is up to no less than the Hawkish Approach that always aims to grow. Perhaps that’s the reason as two why there is a consistent growth in the UAE Real Estate Industry Every Year. Facts around Commercial Real Estate UAE
Summary:
Willing to discover new emerging trends in the UAE Real Estate? Just check out this article and discover more.
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