CRC Commercial Real Estate brokers, Baranouski and Iqbal worked on this project for over a month, providing various detailed investment options. The client chose to invest in One by Omniyat, Business Bay, developed by Omniyat, a 35-storey office building, where modernity meets elegance, with an iconic ‘Cube’ protruding the building (pictures attached). Iqbal states ‘’These were the only 3 consecutive floors available in the market and one of the largest office sales in a single transaction in Business Bay in terms of office size.’’
Business Bay is fast becoming a hub for medium to large global companies as well as SMEs looking to house their regional hubs. CRC has witnessed the commercial market boom with 25% increase in lead generations and transactions compared to the start of Q2 2021. Andrew Elliot, head of CRC Commercial Real Estate states ‘’There has been a strong demand for vacant cat A office space in Dubai and I anticipate the demand for office space to continue, however, presently occupancy rates are very high with very little space available in these key business districts.
Dubai has had an under supply of office space over the last 5-7 years. Baranouski states ‘’From a buyer's perspective they are left with very limited options to buy at the moment and it is very easy to buy an asset that is overpriced due to the speculation in some buildings and areas, this can potentially lead to losses in the long term perspective. Therefore, buyers should be very careful and chose the right property, right prices and right people to deal with.’’
CRC (Commercial Real Estate Consultants), an affiliate of Betterhomes, is a leading commercial real estate agency, who plays an integral part in Dubai's real estate history. With over 35 years of industry experience, CRC caters to international and local clients, seeking increased value by selling, leasing or investing in commercial property.
With a team of over 40 property experts, leveraging best-in-class technology and support, CRC understands the business and provides comprehensive options for strategic direction. To buy, sell, or lease a commercial property, get a property valuation, or find an investment advisor. For more information, visit www.crcproperty.com.