The UAE is a thriving economic and financial destination in the Middle East. The past decade has seen the influx of a huge number of expatriate buyers and businessmen from a variety of business sectors to the UAE. A large majority of investors were in the technology sector, especially in the most modern technology sectors such as Artificial Intelligence, E-Commerce, etc. Coworking spaces and leased workplaces are on the trend and rising in number to serve more companies in the UAE.
Foreign investors can either own a property or rent an office in the UAE for the purpose of setting up a company in the UAE. If you’re dealing with several businesses, renting an office space or co-working space might be more convenient. There are several advantages of renting an office in the UAE. There are, however, several things to weigh before doing so. It is important to understand all the legal problems involved and the necessary facilities before choosing one from the accessible rental office space listings.
If you’re thinking about taking the first step towards entrepreneurship, here’s our comprehensive guide to renting an office in the UAE.
Renting an Office in the UAE; Do’s and Don’ts
A secure, ventilated and well-furnished workplace with essential necessities would help both the organization and its workers. In addition, when an office is well organized and neat, it produces an atmosphere of absolute commitment, discipline, and a strong work ethic.
- The first thing to DO is to “always take professional advice while renting commercial properties in the UAE.” When finding a spot to rent an office in the UAE, a real estate agent must be consulted on a viable solution, recommendations, and guidance. There are a number of legal attributes associated with renting commercial properties in the UAE, particularly if you’re working with the finance and banking industry or the healthcare sector.
- It is important to consult with a real estate agent to offer you the right advice when deciding to rent a commercial property in the UAE. They always identify market trends, average rates, and other general trends. They will even discuss and bargain on your side and settle on the best price since they are in step with the regular market tricks. It is advisable to plan a set of questions regarding the rental office in Dubai before you speak with the appointed agent, which involves specifics about the number of inspections, connections to public transit, future permits, and other considerations.
- DON’T ignore the monetary aspect of renting an office space in the UAE. Always take into account vital details like the budget before you actually rent a commercial property in the UAE, meaning that no investment or necessity allows the decision-a full turnover. Be sure that you also remember the size of the deposit and find out all the hidden costs before pointing out the judgment. One must examine any possible rise in cost and availability of rent, depending on the RERA index, so that one is prepared for unforeseen outcomes when renewing the lease agreement for your office in the UAE.
- Like all the other real estate contracts, including commercial rentals, DO verify that all terms and conditions are laid down in the contract in order to prevent potential conflicts. If the option of commercial property involves some particular changes, such as the installation and building of cubicles, and so on, it must be stated in the contract.
- Be sure that all details about the company are properly written into the deal, for the nature of the business, consistency should be preserved, and no conflict should be posed. Transparent demarcation can take place in the pipe of commercial assets in Dubai; the office cannot double up as a warehouse and vice versa. One must provide all the paperwork, processed and ordered; the evidence of possession, the condition of the property and the alignment of the premises with the current plans, the availability of the licenses to use the premises.
Factors to Consider Prior to Renting an Office Space
It is compulsory for a company working in Dubai or the UAE to have a physical address in the form of an office. Below are some of the aspects to be considered:
- Good offices are essential for certain businesses that need adequate facilities.
- Consider the proximity of competing companies and how they can impact the business.
- The overall atmosphere and ambiance are essential for several purposes, so it should not be overlooked.
- An office building should be functional in a variety of ways. Consider all of the accessibility features. Check if there is a handicap meeting room in the building and a wheelchair ramp.
- Always make sure that there is enough parking capacity accessible when choosing an office.
- Pay attention to the cost of the rent to verify what is included and what is not included. Additional charges are likely to be incurred other than utility bills, maintenance, etc.
How to Find the Right Location for Renting an Office in the UAE?
When you choose the place to rent offices in the UAE, there are several things to take into primary consideration. Many types of commercial licenses available are running their businesses in the land of the United Arab Emirates.
Based on the license that you might need to identify what areas are suitable for renting, for starters, if you work with a Tecom free zone license, you should have your commercial workspace in that specific region. One can also recognize the feasibility of the business and the selection of location. If it’s a showroom for prospective walk-in buyers, check whether the place is accessible to the correct crowd and if there’s enough footfall? See if you can fit an adequate workforce in the selected area and assess the potential parking conditions for your employees. Take the time to research the place until the end when it comes to renting a workplace in the UAE. This will have a significant impact on the sustainability of your own company.
The Renting Process for Offices in the UAE
When exploring the rental office space listing, it is a smart choice to pick one that has a variety of facilities and is spacious, bearing in mind the seating arrangements of workers and their mobility. One of the other benefits of renting a decent workplace is the potential to retain employees over extended periods of time.
Once you decide to rent a specific office space, you would most definitely have to pay a rent deposit. By doing so, you can keep the office off the market until the contract papers are available. The estate agent shall draft the paperwork required to execute the lease agreement. Any agreements on the negotiating conditions can be settled until the formal leasing agreement has been signed by all parties.
We know that establishing a venture is not a small task, choosing the right location for your workplace, factory or shop is only one way to get your new business ready to go. Make sure to pay special needs to all such considerations when renting commercial properties in the UAE. If you choose to rent an office in the UAE instead of a self-owned one, such preparations must be rendered, and permits must be received from the authority concerned. In connection with business set up in the UAE, Riz and Mona Consultancy can fulfill your office space requirements in the most professional and satisfying manner. Our consultants can help in preparing the documents required for signing the rent contract. We also act as a link between the Department of Economic Development (DED) and the client to pursue all compliance-related formalities in the most professional manner.
If you have any particular questions regarding any commercial leasing, please do not hesitate to enquire or email us.