The option of buying commercial property

The option of buying commercial propertyImage Credit: Supplied

Industrial space, retail shops, warehouses, offices and factories are pivotal in the world of business. And business owners are often advised to buy a place of their own rather than rent as it protects them from the landlord's unreasonable demands and volatile rental rates. Purchasing a property also proves cost-effective in the long run.

Location is the most important factor in any business venture as it either makes or breaks it. Business owners must, therefore, see to it that it is in proximity to transportation links, enjoys more foot traffic and has parking convenience.

Commercial hot spots in Abu Dhabi where one can purchase one's own office space include Reem Island, Mohammed bin Zayed City and Building Materials City. These areas offer office units in various sizes and prices to suit one's requirements.

Desirable areas for office space (fitted, and shell and core) in Dubai include Dubai Investments Park (DIP), Jumeirah Lakes Towers, Dubai International Financial Centre, Dubai Marina, Business Bay and Downtown Dubai. These areas are replete with office towers that suit any business. Most of them are also in proximity to the Metro. Meanwhile, warehouses can be bought at DIP, Jebel Ali Free Zone and Dubai World Central.

In the northern emirates, reasonably priced offices, warehouses and industrial land can be found in Al Jurf and other industrial areas of Ajman, and Emirates Modern Industrial Area in Umm Al Quwain. There are also industrial infrastructures, warehouses and manufacturing facilities offered at competitive prices at Sharjah Industrial Area and Emirates Industrial City.

Before signing the contract, conduct due diligence first. It is also better to sit down with a RERA-certified real estate agent to assist you in choosing the perfect place for your venture.

Handy Hints:

• Top office space found on Reem Island, Downtown, Business Bay

Warehouses available in DIP, Jebel Ali Free Zone, Ajman, others

• Industrial land offered in Al Jurf, Emirates Modern Industrial Area

Here are the considerations when investing in property

Source: Alfred Ocianas, Special to Properties

The writer is a freelancer


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