Looking for places with cheap office rental rates in the UAE is like searching for the figurative needle in a haystack. Commercial property has continued to grow in recent years, and rental prices continue to reflect that. Popular areas such as Tecom, Jumeirah Lakes Towers and Business Bay continue to grow and have reported price increases of up to an additional Dh300 per square meter per year.
If your business is not dependent on customer footfall and you can afford to be more flexible with your location, there are a few areas still left in the UAE that could offer you more affordable rental rates.
Jumeirah Village Circle (JVC) is a popular residential area in Dubai and has only recently begun to offer commercial office space within its Prime Business Centre offering fitted offices, and even entire floors, with prices as low as Dh50 per square foot in some cases. It is an ideal location for those living in Jumeirah Village or nearby Sports City, MotorCity or Victory Heights.
Other areas in Dubai that still hold a more affordable price tag are the areas of ‘Old Dubai’ such as Bur Dubai and Deira. Though the area has a less luxurious feel than similar office spaces in prime commercial districts, there are still plenty of nearby facilities and rental rates as low as Dh100 per square foot.
Another option, in order to save money on rent, would be to go further afield and search for office space in the neighboring emirate of Sharjah. Shane Breen, associate director at Cluttons, Sharjah, claims that the emirate is becoming popular with small and medium enterprises due to its affordability. “With relatively more affordable office space available, Sharjah has become the natural port of call for many who are unable to afford the higher rents in Dubai and Abu Dhabi.”
* Tecom, JLT and Business Bay have all reported good increases
* JVC has begun to offer reasonably priced commercial office space
* Parts of Old Dubai, and Sharjah offer cheaper office rental rates
Source: Nicholas Baker, Special to Properties
The writer is a freelancer