Being most populated and second largest Emirate of United Arab Emirates, Wisely invested petro dollars and strategic efforts of State Government and developers enabled Dubai to achieve the current status of business and trade hub of Middle East. Moreover, the strategic location at the crossroads of three major continents empowered Dubai to cover markets of other Gulf States, East Africa and Asia. Fast progressing economy, state of the art manufacturing facilities, modern airport and shipping facilities and negligible crime rate made this Emirate a heaven for investors.
Construction trends of Dubai Commercial Real Estate in 2014
Having observed the interest of entrepreneurs and corporates in setting up their franchises and head offices in the city, Government decided to allow them buying commercial property and office space with complete ownership rights. This has greatly increased the demand of commercial property in Dubai. Sound performance of business, trade and real estate sector and continual economic growth in year 2013 is expected to pull more investors and traders towards city. This ultimately increased the demand of office space. Despite possessing several well-constructed commercial projects, developers identified the need to add more commercial units and started working on commercial projects and mixed used developments along with residential, retail and entertainment projects. In order to meet the rising demand of commercial property units mega developers have started several commercial projects on prime locations like Sheikh Zayed Road (SZR), Business Bay and DIFC Dubai International Financial Center. Among these projects Burj Al Salam at SZR and Burlington Tower at Business Bay are delivered whereas rest of the under construction projects including Al Yaquob Tower SZR, Donna Towers Silicone Oasis and Schon Business Park DIP are expected to complete in coming years.
Burj Al Salam an iconic mixed use development by Dubai Construction Company
Located along Sheikh Zayed Road, Burj Al Salam is the stunning addition in Dubai commercial real estate. With total built-up area of 290,143m2 project consist of three towers with huge parking area. Burj Al Salam is a mixed used development providing 281 office units, 477 hotel rooms, 180 serviced apartments that are connected with large podium. Besides this, the project has a ground floor and mezzanine floor, four basement levels and two mechanical floors with 54 upper floors. Starwood Hotels has taken up the hotel tower for Sheraton hotel. With 12 high speed elevators, multilevel car parking, valet parking and a dedicated commercial lobby the project is perfect for businessmen. Whereas the breathtaking views of city skyline make it perfect for guests and residents staying in hotel and apartments.
Burlington Tower Business Bay
Located at Dubai most prestigious commercial address, Burlington Tower in Business Bay is state of the art business center facility perfect for all kind of businesses. Business Bay is the most popular freehold residential and commercial district in the city. The project is ideally located few minutes away from Sheikh Zayed Road, close to Burj Dubai facing the picturesque Lake views. 35 floors provide more than 476 office spaces. The project is equipped with spacious conference rooms, business lounges, networking area, meeting place and basement and podium parking facilities to efficiently serve business professionals. Other facilities include 24 hours security services, CCTV, high speed internet, backup power system and public address system. In addition to office lounges and lobby areas the development also has gym and sporting facilities, shopping arcade, coffee shops and dining plaza. Spreading over the total area of 64 million square feet Burlington Tower offers landscaped layouts, beautiful canals and easy access to road network.
Both the projects are very suitable for businessmen and corporates looking to establish their setup in Dubai, whereas real estate investors who are looking for some profitable real estate investments can also consider them for investment purposes. Real estate investors could earn good money after renting their office space or serviced apartment or retail area to small businessmen.
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