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The area of Khalidiya in Abu Dhabi is located one street away from Corniche. One of the oldest areas of the capital, it is situated adjacent to Zayed the First Street.
Because of its strategic position close to Madinat Zayed, Shaikh Khalifa Medical City, Corniche, the Central Business District and a multitude of parks, Khalidiya is a coveted address for all kinds of businesses at all scales – from small and medium enterprises (SMEs) to big brands and even a regular smattering of malls. Restaurants also line the many corners of this locality.
Leasing opportunities for businesses abound, but rental rates are on the higher end of the scale. Despite this, there is no dearth of commercial tenants willing to dole out some extra cash for a prime spot. The area is also very well-networked with buses, taxis, pedestrian underpasses and zebra crossings. These are added benefits for commercial tenants in the area.
A 3,000-square foot office space with parking space, central air conditioning and proximity to community facilities leases for approximately Dh600,000 per annum, while rental rates for a 2,000-square foot office space in buildings start at around Dh250,000 annually. A benefit for startups renting here is that they rarely need to relocate on expansion. A lot of offices in buildings offer them the flexibility of adding square feet to their office space when the need arises.
A 600-square foot retail space in otherwise residential buildings is also available for lease for approximately Dh1,300,000 per annum. It is ideally suited for car and furniture showrooms, and is sometimes split into two levels: ground and mezzanine.
Besides these, little garment and knickknack stores in the area lease for around Dh50,000 per annum. Although not serviced, they are popular with SMEs that have regular foot traffic and loyal clientele.
• Khalidiya is located close to the Corniche and Madinat Zayed
• It is a well-networked area with buses, pedestrian underpasses
• Rents are high but well worth it because of its strategic position
Source: Bushra Hameduddin, Special to Properties
The writer is a freelancer