commercial- FOR SALE | 51TECOM - CAYAN BUSINESS CENTER DIFC - PARK TOWER 2AED3,400,000 REF # ER-S-7299 AED2,767,545 REF # ER-S-7717FITTED SPACE FITTED SPACEThis fitted office for sale is located in the established business area This ideal office for sale is in the iconic twin towers by Damacof Tecom in Cayan Business Center. Ultra modern and stylish, it Park Towers located in the heart of Dubai International Financialoffers offices and its occupants the benefits of spacious, naturally- Centre. The towers comprise of 1, 2 and 3 bedroom apartmentslit areas, 24 hour security and basement parking. as well as commercial and retail units. • Fitted with partitioning • Shell and Core • Modern Finishing • Central location • Built up area of 3,132 • Built up area of 958 sq ft • Vacant on Transfer • One allocated car parking • AED 1,085 per sq ft • AED 1,100 per sq ftJLT - MAZAYA BUSINESS AVENUE DUBAI MARINA - MARINA PLAZAAED9,713,600 REF # ER-S-7136 AED7,875,000 REF # ER-S-4760SHELL & CORE SHELL & CORE Full Floor This shell and core office above the 20th floor is available for Shell and Core sale in the prestigious Emaar’s Marina Plaza Tower in Dubai Offices For Sale Marina. The Marina Plaza comprises of; 28 office floors, Mazaya Business ground floor retail areas, basement and podium parking. Avenue • Shell and CoreThese full floor shell and core offices for sale are in Mazaya • Large Office with Full Marina ViewBusiness Avenue located in the established area of Jumeirah • 8 Allocated Parking SpacesLakes Tower, Dubai. Mazaya Business Avenue comprises of • Built up area of 4,308 sq ftthree commercial towers, each one rising to an imposing 45 • AED 1,750 per sq ftstoreys. www.ere-homes.com | 80069373 • Shell & Core • 8 Allocated Parking Spaces • Built up area of 12,142 sq ft per floor • AED 800 per sq ft
52 | FOR rent - commercialTECOM - GROSVENOR REF # ER-R-14301 TECOM - SMART HEIGHTS REF # ER-R-14556AED130,000 AED140,000FITTED SPACE FITTED SPACE Fitted Office This modern office is located in Damac Smart Heights, Tecom with partitions in and is offered fully fitted with partitions and meeting rooms plus Grosvenor House, a built in pantry and store room. Building facilities include a swimming pool, prayer rooms, gymnasium, sauna and steam Tecom room.This office is situated in a central location in Grosvenor BusinessTower in Tecom, within walking distance of the Metro station. • Fitted office with Partitions and Meeting roomsThe office is offered fully fitted with partitioning, two separate • Built in Pantry and store roommeeting rooms and built in pantry. • 1 x Car park space • Built up area of 1,375 sq ft • Fitted office with partitions • AED 101.82 per sq ft • Built in Pantry • 2 x meeting rooms • 2 x Car park spaces • Built up area of 1,204 sq ft • AED 107.97 per sq ftTECOM - EXECUTIVE HEIGHTS REF # ER-R-14344 AL BARSHA - AL BARSHA REF # ER-R-5369AED140,000 AED 1,100,000FITTED SPACE SHELL & COREThis bright fully fitted office with partitioning and two meeting G + 6 purpose built commercial building located in Al Barsha 1rooms is in Damac Executve Heights in Tecom. This building which benefits from excellent access. The offices are currentlywas DAMAC Properties first freehold office tower. Located open plan with approximately 11,000-22,000 sq ft per floor andwith easy access from Sheikh Zayed Road. designed to allow maximum flexibility for interior fit out. • Fitted office with partition and 2 x meeting rooms • Shell and core • Carpeted flooring • Open space office • 2 x Car park spaces • Built up areas from 11,000 to 22,000 sq ft • View of The Greens • AED 100 per sq ft • Built up area of 1,650 sq ft. • 1 Car park space per 500 sq ft • AED 84.85 per sq ft • Half Floor: 1,100,000 Full Floor: 2,200,000AEDwww.ere-homes.com | 80069373
commercial- FOR rent | 53DOWNTOWN - BURJ KHALIFA REF # ER-R-14752 BUSINESS BAY - U-BORA REF # ER-R-14708AED2,172,960 AED2,767,545SHELL & CORE FITTED SPACEThis beautifully fitted office is available for rent in the World’s 16,773 sq ftlargest Tower Burj Khalifa, Downtown. The building is home to Office in U-Boraan observatory deck, Atmosphere restaurant, 900 residences, 37 Towers, Businesspremium office floors and the Armani Hotel. Bay • Fully Fitted Office This fully fitted office is situated in the established U-Bora Tower, • Panoramic View Business Bay. It is located in the heart of business bay and is close • Above 148th floor to Downtown and Dubai Mall. It has 26 high speed elevators • Built up are of 4,527 Sq. Ft. with highest standards of security in reception. • 4 Car Park spaces • Price: AED 480/ Sq. Ft. (Including Service Charges) • Fully Fitted office • Established building • Close to Dubai Mall • Above 50th Floor • Size: 16,773 Sq. Ft. • Price: AED 165/ Sq. Ft. (Including Service Charges)DOWNTOWN - BOULEVARD PLAZA 2 BUSINESS BAY - BAY SQUAREAED550,000 REF # ER-R-14152 AED570,105 REF # ER-R-11694SHELL & CORE FITTED SPACEThis large office is located in a high end Emaar tower This large office is offered semi-fitted located in Bay Square,Boulevard Plaza, Downtown. Boulevard plaza brings a Business Bay. Bay Square will enjoy a community similar tonew dimension to commercial real estate in Dubai. Located creative business hot-spots in major cities around the worldcentrally near Burj Khalifa and the Dubai mall, the office with canals, a wide variety of restaurants, cafes and retailtowers in boulevard plaza provide the ideal location for stores.today’s business community. • Semi-fitted • Shell and Core • Large and Bright Office • 3309 sqft • 4385.4 sq ft • 6 allocated parking spaces • 11 Parking spaces • High floor • 125 AED Per Sq Ft www.ere-homes.com | 80069373
54 | seRVICES eBrxingpinethretsA property management company can help homeowners with everything from tenancy renewals toscreening potential renters and buyers. By Libini Joy Marco and Valentina Rizzo (names The Rizzos are just one amongst many homeowners changed) were hoping to make up for the in Dubai who fall prey to such situations because they increase in their household expenditure are often unaware of the relevant property regulations. by way of a rental hike for the property As the Dubai real estate market is rapidly maturing, they had leased out. Things weren’t going too easily for more and more owners are coming to realise the the couple, with their own home’s rent and children’s importance of having their property managed by a school fees having increased in the past year. To add to professional company. The key is, to ask yourself if you their woes, the Rizzos discovered they were unable to have the time and resources to deal with emergency raise the rent on their rental property as their tenant had maintenance issues, potential disputes, rental renewals filed a complaint. Despite the RERA rental calculator and most importantly, rental increases. If the answer is permitting the Rizzos a 10 per cent rental hike on their no, then a specialist in property management can be of property, they were unable to go ahead with this as they great help to you. hadn’t served the rental increase notice correctly to their tenant. “We understand what is needed to manage a property successfully so you, the investor, can have peace of mindwww.ere-homes.com | 80069373
seRVICES | 55 We understand what is needed to manage Customised solutionsa property successfully so you, the investor, canhave peace of mind and a maximum return on When you sign up with a company such as EREyour investment.” HOMES to manage your property, it can customise your property management package to suit yourRichard Stokes, Head of Property Management needs. The package can be tailored from theat ERE HOMES following services: n MARKETING PROPERTY n ARRANGING PROPERTY VIEWINGS n CONTRACT ARRANGEMENT n COLLECTION OF RENT AND SECURITY DEPOSIT n KEY MANAGEMENT n PROPERTY CONDITION REPORT n FINANCIAL REPORTING n TENANCY DISPUTE RESOLUTION n PROPERTY MAINTENANCE MANAGEMENT n TENANCY RENEWALS MANAGEMENT n RERA GUIDANCE n CLEANING AND PEST CONTROL n TENANCY REGISTRATION n INSURANCE ADVICE n ANNUAL PROPERTY INSPECTION n PROPERTY HANDOVER AND SNAGGING RECTIFICATIONand a maximum return on your investment. We will contracts with Ejari. “In the unfortunate event that a For more informationbe around when you can’t be, marketing your property dispute arises between a landlord and tenant, which on how to enlist thewith maximum exposure if it is empty, leasing it for you, can only be resolved with the intervention of the Rental services of a propertyensuring occupancy and acting as a point of reference Committee, a case can only be produced if the tenancywith your tenant after it’s been rented out,” explains agreement has been registered with Ejari. It is an online managementRichard Stokes, Head of Property Management at ERE system developed by Dubai’s Real Estate Regulatory company contactHomes, specialists in property management. Agency (RERA) to enhance transparency in the market.Gamut of services And if a tenancy agreement is not registered with Ejari, the customerFrom marketing, maintenance management and RERA the landlord can be liable for a fine of Dh50, 000. Since care departmentguidance to tenancy renewals and rental increases, ERE March 2010, it has become a legal requirement to register of ERE HOMES onHOMES offers the whole range of services in property all rental contracts with Ejari,” says Stokes.management. “Our team is always up-to-date with the Maintenance is key 800MYERElatest market movements, and are expert at negotiations ERE HOMES also advises homeowners to keep their (80069373)so we can guarantee you the best achievable rent. You properties well-maintained at all times to gain maximumcan trust us to take care of rent collection. If the rent return on investment. “Preventative maintenanceis paid in several instalments, we will ensure we bank of air conditioning, plumbing and electrical can beyour post-dated cheques in line with the escrow laws, an extremely low-cost investment, which can avoidso that you are in no doubt your money will always be potentially large repair bills in the future. We also advisesafe with us,” says Stokes. our landlords to carry out re-painting and cleaning upon a tenant exiting the property to ensure it is presentable to ERE HOMES handles all tenancy renewals and prospective tenants. This will help in gaining the highestrental increases directly on behalf of the landlord, using possible rents in the shortest period.its tailored Property Management CRM system. “Thisensures that all deadlines are met with regard to any laws “Clean, painted, well-located properties are easy andpertaining to renewal and rental increase, guaranteeing quick to rent out, avoiding long vacant periods, whichlandlords never miss out on an opportunity to maximise can hinder your property’s return on investment,” saysthe returns on their investment,” says Stokes. Stokes. While unnecessary delays in getting a tenant can cost you thousands of dirhams, not having the market It is fairly simple to sign up with a property expertise can get your properties rented under marketmanagement company in Dubai. All you require are a value too. Add to these the hassles of rent collection,few documents such as a copy of your (homeowner/s) emergency repairs and renewals and the list can seempassport, a copy of the title deed and a signed agreement endless. Put simply, a property management specialistwith the property management company. ERE HOMES can make your life easier. urecommends that all property owners register their www.ere-homes.com | 80069373
56 | insight Property rentals sector Moreover, the tenant will not be granted on an upward swing. authorisation to move into the premises until the landlord has cleared any pending service The rental market has more growth in store as UAE’s fees. Hurhangee emphasis that it is importantPriya , Leasing Director workforcecontinuestoriseinthefaceofExpo2020. for the agent to check these details before the agreement is sealed. Tenants should also askA central hub The agent’s service for leasing a property is their agent about the same.The reason for this is that the UAE as a key easily available in the UAE, with a nominal “It is also important to establish who will paintcommercial hub in the Middle East attracts both charge of 5 per cent of the annual rent, which is and clean the property prior to the start of thelarge companies as well as smaller businesses to payable to the brokerage company upon finding tenancy, and this should be reflected in theset up operations here. New businesses in turn a property. addendums of a tenancy contract.bring new employees to the region, and these Leasing norms “The addendums specify who is responsible forindividuals, who are often accompanied by their As per the rental norms in Dubai, a tenant is minor and major maintenance in the propertyfamilies, need accommodation, thus sustaining expected to provide the whole rent payment and usually have a monetary value against this.the demand for rental properties. upfront through the means of cheques and It is common to find that a tenant covers minorThe World Expo 2020 is also creating huge job this can be post dated depending on how maintenance usually up to the value of Dh500-opportunities in the country, making the UAE many payments the landlord has accepted, Dh1000. Major maintenance including aira popular choice for expats who are seeking Hurhangee says. conditioning, plumbing and structure repairsemployment overseas. According to Oxford “However, when you view a property and are the responsibility of the landlord. However,Economics estimates, more than 277,000 want to secure the unit, you will be required this can vary depending on the landlord andjob opportunities in the UAE will be created to put down a security deposit to show your whether they have their own specific tenancybetween 2013 and 2021. These figures bode well commitment, as the landlord usually markets contract they wish to use,” she says.for the rental segment as well. their properties with more than one agent,” she Hurhangee adds, “Additionally, tenants rentingPriya Hurhangee, Leasing Director, ERE adds. villas, with a garden, generally have theHOMES says, “The economy is still growing and If the property is not managed by a real estate responsibility to maintain it. If the villa has awe are far from being saturated in the property broker, tenants need to coordinate directly with pool, the landlord will often employ the servicesmarket, so people still have more options to the landlord once the property has been handed of company to maintain it; tenants generallychoose from. I see the leasing market moving over. inherit the cost but this may vary from case tofrom strength to strength and with more supply, A tenant in the UAE is entitled to lease a case.”we will see a more diverse market with more property in his name from the landlord for the Costs and feesoptions and a good variation of prices, offering a duration specified on the lease, provided that he According to Hurhangee, tenants arerange of products from value villas to high-end is not in breach of the tenancy. “If the landlord responsible for paying a list of fees, includingapartments.” wishes to evict the tenant due to a breach in a security deposit of either 5 per cent for an“As the market matures, we will see prices the tenancy contract they must first approach unfurnished premises, or 10 per cent if thestabilise; areas closer to the hustle and bustle of the rental committee and pay a fee to file a case property is furnished; rental payments, whichthe city will maintain higher prices while prices against the tenant. are paid through post dated cheques, and thewill be cheaper in places that involve a short “If the landlord wishes to evict the tenant to sell agency commission of 5 per cent of the annualcommute. The future is bright in the leasing the unit, 365 days notice via the notary public rent.sector, as people will always be looking to move must be given. Moreover, the tenant can renew “Other fees include Dubai Electricity andand set up a home here.” the lease provided he has notified the landlord Water – DEWA (connection charges andRelying on experience within the 90 day period and the landlord has consumption) fees, a housing fee also referredAlthough leasing a home is a common practice not served 365 days notice by notary public for to as municipality fee, which appears on thein Dubai, searching for the right property to them to vacate the premises,” says Hurhangee. DEWA bill; Du/ Etisalat (for cable, Internet andmeet your needs can be a daunting task. Seeking Contract terms phone charges), and Empower/ Palm Districtthe help of an experienced and qualified agent Signing a rental contract involves Cooling/ Emicool charges (air conditioning)will not just save time but it helps potential documentation. Passport copies to verify in certain developments and buildings. Tenantstenants zone in on the right property to suit signature and the resident visa are required to should seek clarity on whether both fixed andtheir requirements. lease property in a tenant’s name. Hurhangee, consumption charges need to be paid by them.”“Our agents are area specialists that have however, advises every tenant to review the Ejari is the registration of the tenancy contractundergone extensive training to ensure they proof of ownership in the form of a title deed with RERA, which is now mandatory for allhave detailed knowledge of the property, the and landlord’s passport copy with the signature contracts to be registered. “The cost for Ejari isdevelopment and area they focus on, hence they page before signing the agreement. Dh 205 and can be prepared at any typing centermake the process of finding a property much and is valid for a year. For every year the tenancyeasier,” says Hurhangee. is renewed, the tenant must re-register their Ejari by paying the fee. When a tenant vacates the unit, they must also apply for an Ejari cancellation where a fee is payable as well. ERE HOMES can take care of the complete EJARI process on the Tenants behalf if requested,” she says. By Hina Navinwww.ere-homes.com | 80069373
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