Dubai freezone office rates fall by up to 63%

Posted by: Ahmad Ismail Wednesday, 10 February 2010 4:52 PM[UAE] - UAE

Rules are just not clear on who can and who can?t get a license. I clearly sent an e-mail to DMCC saying that I do not think the company I work for can get an office space in DMCC due to the fact that it already has a Dubai trade license. Yet, the reply was that I could and was asked to refer to their very complicated application !! Too bad that all the office space available there will take a very long time to get rented out. I assume it is only a matter of time before DMCC start accepting DED (Dubai Economic department) license. Same is already happening at the Tcom/media city in selected towers.

Posted by: James Tuesday, 10 November 2009 9:01 PM[UAE] - UAE

DMCC is receiving hundreds of inquiries a week and licensing around 60 companies a month. All of these companies have to have offices in JLT and several are looking to accomodate 100s of employees. The procedures and costs are in line with other free zones and are continuously being revised and improved. JLT by early 2010 will have plenty of shops and supermarkets that are in the process of setting up now. JLT like any other free zone does not allow companies who are not licensed to locate in it. This is to do with being able to regulate the free zone for the good of the whole area. Many towers are filling up now and this will increase in weeks to come. JLT is a fantastic location and will grow into an ideal community. DMCCA is a forward thinking body with a hands on approach. Good luck to you all.

Posted by: Ranjani Thursday, 1 October 2009 12:28 PM[UAE] - United Arab Emirates

We own an office unit in TECOM Executive Heights and despite registering it for rent/sale with several real estate agencies, we have had no enquiries. SCC and James Bernard were the only ones who had something promising to say about the Free Zone Areas. Request them to please put me in touch with some prospective tenants/ buyers.

Posted by: Greer Thursday, 1 October 2009 6:31 AM[UAE] - Thailand

Omar - very well said! An excellent post. Dubai growth has to a large extent been on the backs of artificially inflated values in many sectors, but have faith, I am certain things will improve. In order to maintain sustainable growth into the future, there has to be a realisation that ripping off businesses, tourists, and anyone else who can be trapped and manipulated is not going to guarantee your life for next year or the one after that. Dubai has many good honest businesses with a solid base upon which to grow, but real estate was an expanding bubble that eventually had to pop!

Posted by: Andy Wednesday, 30 September 2009 10:07 PM[UAE] - Taiwan

I had some apartment units in Saba Tower II in JLT and the fees that they were charging for the community were beyond crazy. This is part of the reason people just started selling. The other reason was the cost of licensing fees and permit fees (If you ever got them or were approved) were also beyond crazy. The high rents, high fees and hassles turned everyone off and sent prices tumbling in JLT. This was bound to happen due to greed in the local fees that the municipality was charging owners and renters who either lived there or wished to do business there. In Singapore,Hong-Kong and Taiwan one does not need to pay these absurd fees. Give them time and they may learn.