Demand for small office space in Dubai
The need for small, well-located and quality office space is increasing
By Mohanad Alwadiya
Special to Properties
Dubai is open for business. With 14,360 new business licenses issued in 2011 and economic growth of 4.5% expected for 2012, demand for Dubai commercial space, particularly small office space, is on the rise. Dubai has an abundance of strata owned offices, to cater to the needs of virtually any prospective small business.
It goes without saying that careful planning is required by developers when deciding on the type of property to be developed. When considering office space, the configuration of the floor plate is a major consideration, as it needs to comprehend the type of client or tenant that will utilize the space.
One issue that has confronted large corporate tenants in Dubai requiring large areas of floor space is that the choice, perhaps unbelievably, is somewhat limited. This is due, in many instances, to whole floors of office space being owned by a number of different owners or landlords.
Needless to say, this situation is untenable for a large prospective tenant, who requires sole occupancy of once or more whole floors.
So, the trick in establishing and keeping a real estate market in equilibrium is not only matching supply and demand as it relates to space, but also determining the right composition of the spaces to be created. This required very careful planning based on an understanding of the market’s requirements, something which unfortunately has not been too evident in the past.
In the meantime, obtaining affordable, well-located and quality office space for prospective small businesses in Dubai will not be an issue… in the near future anyway!
The writer is the Manager Director, Harbor Real Estate.
In 2012 an economic growth of 4.5% is expected in Dubai.
Identify the type of client or tenant that will utilize the space.
For office space the configuration of the floor plate is important.