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Over the years, Dubai has attracted one and all. The sunny beaches, luxury shopping destinations and posh residential areas have lined up a steady stream of expats ready to explore and invest in the emirate's growing property market.
Despite the bouts of recession or the past global economic slowdown, Dubai's property market has never seen a really huge downside. In fact, it is one of the most lucrative investment destinations in the region. And if you are looking to get a commercial property, getting the right perspective makes the tasks slightly easier.
For beginners, a keen eye for detail often makes the difference. Gaining professional insight, setting priorities and goals, and a sound understanding of the dynamics of the commercial real estate market will always come in handy. Always remember to evaluate and compare properties that are attractive and potential investment opportunities because at the end of the day, it is the cash inflow that matters. Apart from these, one must also try to gauge potential customers for a certain property. In no time, you are on track for a great deal.
However, it is always essential to be aware of the regulations governing commercial deals. First and foremost, it is very important to find out whether you are eligible to buy property in Dubai or not. Next, a first hand report of the area to be purchased becomes a necessity. Also, to avoid any liabilities, all transactions must be documented and must be at par with the existing rules and regulations of the country.
Rentals as well as sales values of commercial properties in communities like Business Bay, Jumeirah Lakes Towers, Downtown Dubai and other prime locations have been on the rise. This is because companies from all over the world have found an interesting destination in this city. So, a little homework will let you travel the distance in the money-spinning world of commercial real estate.
• Evaluate and compare locations, portfolios, amenities and prices
• Check all contracts and lease agreements before signing them
• Ensure to have a good understanding of the real estate market
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Source: Shabnam Mondal, Special to Properties
The writer is a freelancer