Dubai is one of the world’s most expensive places to live. It is well-known for how appealing it is to tourists and how great its infrastructure is. The Dubai skyline, the Burj Khalifa, and many other famous buildings make the Dubai sky full of stars. Aside from that, infrastructure improvements have turned this semi-arid Arab land into a concrete wonder.
Many famous and well-known buildings add to this state’s charm and good fortune. Aside from this, nearby cities like Sharjah, Bahrain, Kuwait, Oman, etc. offer people from different countries more job opportunities than they need. People spend millions and billions of dollars to buy property in Dubai because its value on the market keeps going up. The Dubai real estate market is getting bigger and bigger, and people from all over the world, including famous actors, athletes, and politicians, are investing in buying homes there.
In Dubai, freehold areas can be owned by Expats. Foreigners who don’t live in the UAE and expatriate residents can buy unrestricted freehold ownership rights, usufruct rights, or 99-year leasehold rights.
Article 3 of Regulation No. 3 of 2006 Determining Areas for Ownership by Non-Nationals of Real Property in the Emirate of Dubai (pages 129-132) lists the land plots that are freehold properties.
The Land Department in the emirate is in charge of giving out title deeds. In Dubai, you can buy a home at any age.
In this article, we’ll learn an Expats buy commercial property in Dubai and what kinds of properties are available to foreigners in Dubai.
Regulations for buying commercial property in Dubai as a foreigner
Is it possible to buy a house in a country where you don’t live? The answer to this question depends on the foreign and domestic policies of each country. In Dubai, a foreigner can buy a home, but only if they follow certain rules and regulations. Let’s look at the rules that must be followed when buying property in Dubai:
A person who doesn’t live in Dubai can buy freehold property there. But the government of Dubai has strict rules about where these properties can be bought.
A foreigner can only buy a home in these parts of Dubai:
Property can be bought and sold in all of these areas on a freehold basis. But the prices of homes in these prime areas are too high for most people, but not high enough for foreigners.
In Dubai, the following kinds of properties can be bought by people from other countries:
- Hotel apartments
- Villas and Townhouses
Let’s find out what kinds of properties a non-Dubai resident can buy there.
What kinds of business properties foreigners can buy in Dubai
In Dubai, the commercial real estate market is huge and offers a wide range of financing and business opportunities, from fully furnished offices to factories that are made just for them. Here is a complete list of all the properties in Dubai’s many business sectors. It will help you put your money in the places where your business is most likely to grow, and it will also give you an idea of how much it will cost to buy or rent these units.
1. COWORKING SPACES
Coworking spaces are becoming more and more popular as the number of businesses and startups grows. Building offices and buying office furniture for coworking spaces takes little money. Freelancers also like coworking spaces because they give them more chances to meet good people and network. These spaces let you set up a workspace like a shared office, giving employees a more professional and comfortable place to work.
The lower cost of renting the spaces because they will be paid for all at once will also be a clear benefit. Fees could be charged by the hour, day, or month to use the properties. There are also a number of well-known single and network coworking spaces in Dubai, such as Nest, Bureau Dubai, Nook, Our Space, and others.
Here, you can buy a company to run one of the already-existing locations or buy an office that you can change to fit your needs and tastes. Most importantly, these places are popular with IT professionals and are great for a variety of things, such as holding specialized lectures and seminars, doing work for authorized businesses, and serving as a treatment and spa.
Most of the time, these properties charge between $2800 and $19,000, depending on the size of the area and where the office is. Also, the price can sometimes depend on the offices around the coworking space. If you want to work in the same room as well-known business people, you might have to pay more.
2. RETAIL STORES
From Dubai’s point of view, buying retail spaces is another great way to put money into infrastructure. In Dubai, commercial properties always give the best return on investment. And if you want to start your own business, you’ll need a nice place to do it. If you want to open a store in Dubai, you should make sure it is in a place that gets a lot of foot traffic and shoppers. Buying stores and shops in Dubai is a very good way to make money. This kind of commercial property is in demand in every part of the emirate, and you can buy it both on the secondary market and off-plan.
The best places to buy these retail stores and shops are in Jumeirah Lake Towers, Business Bay, International City, Dubai Marina, Meydan, DIFC, Downtown Dubai, and Dubai Silicon Oasis. Their sizes range from 344 to 9,945 square feet, and the starting price for a unit is AED 150,000 (about $41,000). In addition to the places already mentioned, you can rent from 99 to 37,996 square feet in Al Barsha, Deira, Jumeirah, and Bur Dubai for between AED 15,000 (USD 4,100) and AED 4,000,000 (USD 1,090,000) per year.
Dubai is a business center with a lot of room for growth. There are both new companies that are growing and big industries that have a lot of power. Foreigners can also buy or rent a wide range of office spaces in Dubai. These spaces can be rented or bought with or without furniture. All of the newly built spaces do have some basic furniture, though. Business Bay, Jumeirah Lake Towers, the Sheikh Zayed Road, Deira, and Bur Dubai are some of the best places to buy these office locations. In Dubai, a 25-35 sq. m. office space starts at an average price of $68,100. Prices for renting and leasing, on the other hand, can vary based on the size of the space being rented.
Foreigner benefits of buying Dubai commercial properties
It’s never bad to buy a house anywhere. You must have extra money and good capital if you want to when purchasing a House in Dubai and invest in real estate. This can be a steady way for you to make money. You can also use the property for your own purposes at any time. Why buying commercial property in Dubai is a good idea.
It is especially helpful for people who live in another country because they have a spare place to go to. If you buy a house or an apartment in a hotel, you can rent it out for a few years. And when the time is up, you can use that property as a place to go on vacation. What could be better than a second home in Dubai?
Second, it can be a good way for foreigners to make money and can help you become a citizen of Dubai in the future. So, if prices go up, you can either sell your property for a higher price and make a lot of money, or you can keep it for yourself. Taking all of these things into account, it seems like a good idea for any foreigner to buy commercial property in Dubai.