The commercial real estate market in Dubai is one of the most expensive in the world. To get a good deal on an office for rent in Dubai, you need to be smart and savvy. Here are some tips to help you find the best office for rent in Dubai:
1. Identify Your Needs
You need to know:
How much office space do you need?
- For 1-10 employees, you will need around 200-500 square feet.
- For 11-20 employees, you will need around 500-1,000 square feet.
- For more than 20 employees, you will need around 1,000-2,000 square feet.
Besides the number of employees, you will also need to take into account the space you will need for storage, meeting rooms, and any other special requirements you may have.
You also need to plan for the possible expansion of your business.
It’s always better to have more space than you need rather than not enough. If you are planning to expand your business shortly, you should try to find an office with enough space for your future needs.
What type of space are you looking for?
- Do you need a furnished office or an unfurnished one?
- Do you want an office with a view?
- Do you need storage space?
Since it is your office, you must know what type of environment you and your employees feel most comfortable working in.
What location in Dubai will be most suitable for your office?
The most popular commercial areas in Dubai are:
- Downtown Dubai: This is the most expensive area in Dubai, but it is also the most popular. It is home to some of the tallest buildings in the world, including the Burj Khalifa. Some of the business giants that have their headquarters here include Emaar, Dubai Holding, and Jumeirah Group.
- Business Bay: This is a newer commercial area that is quickly becoming popular. It is close to Downtown Dubai and offers great views of the Burj Khalifa. Dubai businesses like DHL, Microsoft, and Johnson & Johnson have their offices here.
- Jumeirah Lakes Towers: This is a popular area for small businesses. It is close to the beach and has a lot of restaurants and cafes. You can find good deals on office space in this area.
- Dubai Marina: This is a popular area for businesses that want to be close to the water. It is also close to Jumeirah Lakes Towers. Businesses in Dubai Marina include Accenture and Deloitte.
- Dubai Internet City: This is a popular area for tech businesses. It is home to many international companies, such as Google, Microsoft, and Facebook.
- Dubai Media City: This is a popular area for media businesses. It is also home to many international companies, such as CNN, BBC, and Reuters.
- Knowledge Village: This is a popular area for businesses in the education and training industry. You can find universities and institutes like Harvard Business School and the Emirates Academy of Hospitality Management here.
and many more.
Once you have decided on the location, you need to find out what type of office space is available in that area.
What class of building should you opt for?
- Class A: These are the newest and most luxurious buildings. They are usually the most expensive.
- Class B: These are older buildings that have been renovated. They are usually less expensive than Class A buildings.
- Class C: These are the oldest buildings. They are usually the least expensive.
Class A buildings are usually the best option, but they are also the most expensive. If you are on a budget, you may want to consider a Class B or Class C building.
2. Understand the Variables
Calculate the basic rent first. For this, you will have to:
- Multiply rentable space in sq ft by the monthly rental rates.
- To find the annual costs, multiply the monthly rent for the office by 12.
Besides office rent, you also need to be aware of the cost of:
- Repair Costs: You must negotiate who will bear the cost of repairs, the landlord or the tenant.
- Service Charges: This is an additional charge that is levied by the building owner for maintaining common areas, such as the lobby, elevators, and restrooms.
- Utility Costs: This includes the cost of electricity, water, and air conditioning. You may also consider the cost of internet, phone, and cable here. Sometimes, these costs are included in the rent.
- Cost of Janitorial Services: This is the cost of hiring a janitor to clean the office space.
- Cost of Administrative Services: This is the cost of hiring an administrative assistant to manage the office.
- Taxes: In Dubai, you will have to pay 10% of the annual rent of commercial space as tax.
- Insurance: We highly recommend you get insurance for your office space.
3. Search for the Best Offices for Rent in Dubai
Now that you know what to look for, it is time to start your search for the best offices for rent in Dubai. Here are some tips to help you find the perfect office space for your business:
What to look online while hiring a Dubai office?
When you start your search for an office for rent in Dubai, the first place to look is online. Many websites list commercial properties for rent in Dubai.
You should look for offices that are:
- In the area you want
- In your budget
- The right size for your business
- The type of office you need
What are the signs that the Dubai office is ideal for you?
Once you have found a few potential options, it is time to start visiting them. While visiting the office, pay attention to the following factors:
- The office should be in a good location.
- It should be the right size for your business.
- The layout should be efficient.
- It should have enough natural light.
- It should be well-maintained.
- The rent should be reasonable.
Hire the best real estate agent to rent an office in Dubai
If you want to make sure that you find the best office for rent in Dubai, it is a good idea to hire a real estate agent. A trustworthy real estate agent in Dubai, like OBK Investment Group, has a good understanding of the commercial property market. They will be able to find you the best options that meet your requirements.
4. Negotiate the Rent or Lease
Once you have found the perfect office for rent in Dubai, it is time to negotiate the rent or lease. Here are some tips to help you get the best deal:
Discuss basic terms of renting an office
Some of the things you need to discuss include:
- The length of the lease
- The amount of rent
- The date of occupancy
- The date of termination
- The security deposit
- Who will be responsible for repairs?
- Who will pay utility bills?
- What is included in the service charges?
- The penalties for breaking the lease
Once you have agreed on the terms, make sure that you get everything in writing. This will protect you in case there is a disagreement later on.
Determine what kind of office layout you need
The layout of your office space can have a big impact on the way your business runs. It is important to take the time to determine what kind of layout you need before you sign a lease.
Some things you need to consider include:
- Do you need private offices?
- Do you need a reception area?
- Do you need a conference room?
- Do you need a break room?
- What is the ideal size for your office?
Once you have determined what kind of layout you need, you can start looking for office spaces that meet your requirements.
Get professional help to fulfil legal terms
If you are not familiar with the legal terms of renting an office in Dubai, it is a good idea to get professional help. A real estate company can help you understand the lease and make sure that you are protected.
Finalize terms and move-in
Once you have negotiated the terms of the lease, it is time to finalize everything and move into your new office.