The implications of the UAE Bankruptcy Law on debtors & creditors

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Legal experts largely agree that the new UAE Bankruptcy Law is an improvement on the previous law, but is it all good news for debtors and creditors?

What is the UAE Bankruptcy Law?

The Federal Decree Law No. 9 of 2016 (UAE Bankruptcy Law) provides a framework for companies in financial distress to avoid liquidation and protects employees, shareholders and directors of organisations going through court-led insolvencies. It contains 230 articles and primarily works to bring flexibility to those going through financial difficulty, providing more support for both debtors and creditors. Since its implementation on December 29th 2016, it has removed the risk of facing legal prosecution and jail time, and special tribunals are no longer required for the insolvencies of large companies.

Who does the UAE Bankruptcy Law affect?

The UAE Bankruptcy Law applies to commercial companies, companies owned by the UAE or any Emirate’s government, individual traders and civil companies established in the UAE. It excludes companies established in the financial free zones and non-trader individuals, who will remain subject to the UAE Civil Code in the event of financial distress and who will therefore continue to be at risk of legal prosecution.

What are the key changes implemented by the UAE Bankruptcy Law?

The law is centred around the implementation of four new court-supervised procedures:

The preventive composition

A process for solvent debtors who are facing financial difficulties. Only a debtor may apply for this and it should be initiated at the early stages of difficulty before insolvency, to protect the debtor and provide more time and support to fulfil the debt with the court’s supervision. The unsecured creditors must approve this within three years of the court’s approval and it may be extended by three years.

The restructuring process

For an insolvent debtor facing financial difficulties that have led to failure to meet debts for 30 working days or more. This can be initiated by the debtor or by unsecured creditors who have issued a formal demand for a debt of Dh100,00 that is overdue by 30 working days or more. The debtor is allowed five years for restructuring the debts and this may be extended by three years.

Insolvent liquidation process

To be initiated by the order of the court, for the debtor to cease commercial activity if the previous two options are unsuccessful or are not approved. The court will appoint an insolvency trustee or official to oversee the process and monetise the debtor’s assets.

Financial restructuring of financial institutions

This may be initiated following preventative composition or restructuring and includes safeguards for existing secured creditors.

Accordingly, greater flexibility is available for debtors and creditors. For the first time courts can amend loan terms and debtors can apply for support from the court during financial difficulties, which can potentially provide three to six years of protection and support. The UAE Bankruptcy Law provides more options for debtors in the UAE and this in turn brings greater protection of the debtor’s business, and of the creditor’s assets.  It creates more security and predictability and can help to prevent financial problems from growing and becoming unmanageable whilst there is still potential to fulfil the debts owed. To encourage debtors to apply for rehabilitation when facing financial issues, the law states that once the court accepts the application, all other claims and proceedings are suspended until approval. This is to encourage restructuring finances rather than leaving the creditor without their owed debts, but it means that existing debts are suspended, bringing risk of alternative liability.

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What are the implications for debtors?

The UAE Bankruptcy Law helps to support debtors’ businesses maintain viability and aims to protect them during a restructuring. It can also protect Directors and Managers from arrest or being forced to flee the country as a result of their company’s debt. However, it’s important to note that the removal of the criminal offence of bankruptcy does not remove the criminal offence of fraudulent bankruptcy or any breach of the Commercial Companies Law. It is clear that using the UAE Bankruptcy Law as protection from such a breach will render the individual exempt from protection. This will lead to the member being held personally accountable for the debts and damage.

Criminal proceedings regarding bounced cheques are suspended once a preventive composition or restructuring process has begun, which can help debtors maintain viability, although misuse of this protection can be a fraudulent insolvency offence. The UAE Bankruptcy Law states that members involved in the liquidation of the company are accountable for a Dh1 million fine and up to five years in prison if found guilty of altering records to harm the creditors, embezzlement, acknowledging unpayable debts, deceiving the court in their application for any of the processes in the UAE Bankruptcy Law, or sharing false information about the capital.

It is important to consider the time frames enforced for new processes in the UAE Bankruptcy Law. There are time frames for approvals, appeals, and initiating processes that must be observed to maintain protection. For example if the debtor does not apply for bankruptcy within the thirty working day window of failing repayment, the liability can shift to the members and Directors and can leave them personally liable for mismanagement. A preventive composition is not available to a debtor that has already entered into the procedure in the past year and cannot be used by a debtor for which bankruptcy proceedings have initiated, so both processes should be carefully considered. It appears the best advice is to be prepared, act quickly and seek help at the first signs of difficulty to maintain business integrity and protection from greater difficulty further down the line.

For debtors, the UAE Bankruptcy Law provides some leeway, but does not relieve the requirement to fix the debts owed and depends upon the handling of the court and the court appointed officials as to how effective a strategy it can be. Applications require preparation and time to complete and therefore it is necessary to undertake a risk analysis and keep the preparation process in mind when considering the time frames. The plan for preventive composition must be effectively prepared as, once agreed and in process, failure to comply can result in the court ordering for bankruptcy or liquidation. In addition to this, the debtor must have funds to cover the cost of the procedure and approval is required from shareholders.

What are the implications for creditors?

The UAE Bankruptcy Law appears to offer a debtor-centric approach but creditors also benefit from more security and legal rights than before. Creditor initiated insolvency proceedings will be useful in protecting assets and the removal of the criminal offence and more options to debtors means more likelihood that debts will be cleared rather than absconded from. Research by the World Bank has shown that insolvency processes in other countries have up to nearly 60% higher recovery rates than the UAE, so this is a much needed improvement for UAE creditors. As a result, the UAE also becomes more attractive to international investors and businesses and benefits the economy as a whole.

Secured creditors are prioritised by the UAE Bankruptcy Law, and again must consider enforced time frames. Secure creditors require court approval to claim against the trustee regarding their secure assets. The court’s decision will be published by the trustee, then creditors have a window of 20 working days to bring their claims. Following publication the debtor has 45 working days to submit an initial preventive composition plan for a vote of approval by unsecured creditors. This gives unsecured creditors an understanding of timings and proposed chances of success, but to vote their debts must be accepted by the court and a majority vote requires at least two thirds relating to the value of the debt. After this the unsecured creditors, regardless of whether they voted, are bound to the agreement. This process appears to favour larger investors and may encourage more investment, but could discourage smaller investors from becoming involved initially.

Whilst the debtor continues to run the business, the court-appointed trustee has rights to act for the debtor to preserve the assets needed to complete the process. Any activity that could impact the position of secured creditors must be approved by the court and the court may order for liquidation of the debtor’s assets if they do not comply with the agreed terms of the preventive composition.

In summary, the law provides much more transparency and more confidence and predictability for creditors.

Outlook and future developments

The UAE Bankruptcy Law aims to improve the business environment and economy by offering debtors more opportunity to resolve debt without facing liquidation and prison. Investors can invest more knowledgeably and confidently, and those seeking investment will have better access and support to avoid liquidation. This should influence a further rise in investments and business growth in the UAE, particularly for entrepreneurs and SMEs.

Further encouragement to debtors to seek support early on in their financial decline may help to prevent bankruptcy, however, it does not necessarily stop debtors fleeing the country to escape criminal sentencing in fraudulent cases. This also relies on debtors being financially aware and knowing their rights early on in, or before their decline.

Whilst greater co-operation is possible between debtor and creditors, the processes are managed by courts and court appointed officials. Given its recent implementation, it is too early to know how successfully issues will be managed which creates uncertainty. It will work on a case by case basis and relies on there being an experienced talent pool with knowledge of the relevant industries. Experience and understanding of the issues and outcomes will come with time and there is no doubt opportunity for the law to evolve. Larger more structurally diverse companies may complicate the process and we are yet to see how these instances will pan out, but the new law looks like a step in the direction of a smoother, slicker business environment with more international appeal.

Leasing vs owning your commercial property in Dubai

“Would it be smarter to rent a commercial property than purchasing it?” – it is a question everyone who decides to open a business in Dubai asks themselves at some point.

As an international trading hub, Dubai caters to all types of business ventures. Brimming with well-equipped state-of-the-art office spaces, Dubai offers numerous choices for those planning to expand their business activities in the Middle East.

When choosing the ideal commercial property to establish a business, the entrepreneurs should essentially consider the primary business activities of the enterprise. Dubai has multiple Free Trade Zones that help entrepreneurs establish and manage a business quite easily.

It should be noted that commercial property in the UAE is divided into several types according to the types of businesses. For instance, professional office space cannot be used for a retail business.

Deciding whether to purchase or lease a commercial property should primarily depend on the business type and the financial conditions of the entrepreneurs. Before finalizing the documents, the entrepreneurs must ensure that all the required documents including proof of ownership, compliance of the commercial property with the current plans, the status of the premises and the necessary permits to occupy the property are available. However, these requirements might change according to the specific businesses and the location of the commercial property in Dubai.

Below we outline some of the fundamental aspects of leasing and owning commercial property as well as their possible advantages and disadvantages. Read on to find out the pros and cons of leasing and owning commercial property in Dubai.


Purchasing a Property Requires Liquidity

Leasing requires a less amount of cash when compared to purchasing a commercial property. Leasing a commercial property rather than purchasing one leaves the investors with more capital to invest in other business operating costs.

Leasing is Attractive for Financing

Many small-scale or marginally profitable firms may find traditional financing sources like purchasing a commercial property rather expensive and difficult to attain. It is why leasing can be seen as an attractive source of financing. The cost of leasing usually falls below the cost of ownership and a landlord might be eager to sign a simple lease than transferring ownership.

Leasing Offers Stable and Predictable Costs

Unlike with ownership, leasing costs are easier to forecast when preparing a budget. Although some leases may end up costing several minor capital expenses to the buyer, most commercial lease structures out there help the buyer sidestep these unpredictable expenses like mechanical system replacement costs, structural repairs or random expenses like replacing the roof of the parking lot.

Leasing Looks Good for the Tax Benefits

The occupancy costs of leasing are fully deductible from the insurance. The owner of the property is supposed to depreciate the increase in the costs of the property. However, they cannot depreciate the value of the land.

Leasing is Flexible

A lease agreement comes with an expiration date where the buyers can re-evaluate their commercial property requirements. A leasing agreement also lets a lessee decide whether they wish to expand their business activities or relocate.

A Property at a Prime Location

Commercial property at prime locations across Dubai may already have been purchased. On the other hand, the available properties for purchase might be located away from the central locations in Dubai. Leasing allows the buyer to establish their business in a prime location in Dubai.

Focus on The Important Things

As with any other investment, purchasing a commercial property comes with multiple risks. These could include a decrease of the property value due to economic and market conditions, financing risks and unforeseen expenses related to maintenance and repair.

Leasing a property allows the tenants to focus on their primary business and not just its maintenance. Issues with property management can set the owner’s business back by several months.


Control of The Property

When leasing commercial property, the bitter truth is that the tenants have little to none control of the property that they are leasing. Due to the lack of control, these tenants may even be affected by parking restrictions, operational hours, the compatibility and the use of the commercial property.

On the other hand, securing the ownership of a commercial property can allow its owner to make decisions without a hassle or anyone’s interference.

No Appreciation of The Property or Equity Accumulation

Those who choose to lease instead of purchasing a commercial property do not have the opportunity to yield profits of the property value appreciation. Additionally, tenants of the property are not given the chance to yield any type of equity accumulation by reducing the property’s underlying financing.

That being said, purchasing a commercial property allows its owner to enjoy the profits of any asset value appreciation. Also, under an amortizing loan, the owner can also accumulate equity in the commercial property as the mortgage principal is paid off.

Leasing is more expensive than you think!

At a glance, the instalments for the leased property might look comparatively lesser compared to purchasing a property. However, at the end of the lease period, it could end up costing the tenants more than purchasing the commercial property.

Contractual Obligations of Leasing

Even though the business based at the leased commercial property faces losses, becomes less desirable or lacks liquidation, the tenants are obligated to pay the rent for the property. These contractual obligations come along with the leasing process and cannot be evaded even if the tenant does not have the financial capability to pay the rental obligations. In fact, the tenant will be charged with penalties if they missed out on their payments for the commercial property.

The Decreasing Salvage Value of The Property

When managing a commercial property on lease, it is natural to expect repairs and modifications in the business space. However, this also means that any modifications done to the property will eventually be handed over to the owner of the property at the end of the lease period. Alternatively, the owner of the commercial property might require the tenant to remove all the modifications done during the leasing period.


Enjoy the Appreciation of The Property as an Owner

All in all, the real estate industry in Dubai has been enjoying a steady boom. Even after the toughest of the economic conditions, Dubai has been able to recover its real estate market to its former prestige.

A tenant is not able to enjoy the appreciation of the property value. The owner of the property will instead be enjoyed by the owner of the commercial property. Although the value of the property may fluctuate over the years, once the total value of the commercial property improves and/or stabilizes, the owner can yield the added property value by putting the property back on the market.

The Property Could Pay For Itself!

Just because you own a commercial property does not mean that you have to occupy it all by yourself. Commercial property can be used as a mode of income to those who can afford to allocate some space to a tenant for a leasing agreement. This will provide the owner with an additional source of income which can be used to pay the mortgage, invest or even distribute.

Property Ownership Attracts Tax Benefits

Ownership of commercial property comes with a range of benefits and depreciation deductions to shield the owner of the property from income taxes. Additionally, once the property is put back on the market, the owner is taxed at a lower marginal tax rate than his or her usual income.


Purchasing a Commercial Property in Dubai Takes Time!

As with any other expensive investment, purchasing property in Dubai takes a considerable amount of time – especially due to the substantial transactional costs involved in the acquisition and deposition process of the property.

These costs can even out the long-term benefits of owning a commercial property or nullify the benefits of appreciation of the property for at least a short period.

The Initial Investment Can Be Massive!

In the majority of the cases, the commercial property requires an initial payment of at least 20% to 30% of the total value of the property. Considering the real estate market in Dubai, this value can be too much to bear for the investors. This money can rather be invested in the owner’s other business activities.

A Commercial Property Can Be Difficult to Manage

Issues regarding commercial property management are usually complex in nature. These complications range among legal, compliance, health and safety concerns. Managing contractors can also be expensive and distracting. It is an additional burden for the owner of the commercial property attempting to run a business.

Difficult Financing Covenants and limitations

Commercial property purchasing loans require personal as well as corporate guarantees. The long list of requirements also involves some type of liquidity such as a minimum deposit balance with the lender.

On the other hand, non-recourse fixed-rate financing usually comes along with other demands, which includes breakup fee or yield maintenance if the loan is retired prematurely.

DIFC Area Guide

Dubai, being the financial hub of the Middle East, promises to provide opportunities for people to invest in a wide variety of ventures. It has a special economic free zone, the Dubai International Financial Centre (DIFC)regulated by the DFSA, that was established in 2004 with the aim of providing a suitable financial as well as commercial hub not only for the Middle East but also for African and South Asian markets.

With covering more than 110 acres, DIFC has emerged as one of the world’s top financial centres that houses over 23,000 professionals that are looking for a modern city living while working in the financial sector. DIFC is located on the South side of Sheikh Zayed Road, between Trade centre roundabout and Junction one of Sheikh Zayed road heading South-West towards Abu Dhabi.

The DIFC district boasts of modernized office spaces, retail outlets, cafes and restaurants (Caramel Restaurant and Lounge and Zuma), hotels (Ritz Carlton Dubai International Financial Center), art galleries (The Empty Gallery), residential apartments, public green areas.

DIFC is dominated by the 15-storey building, The Gate that is considered to be its main landmark. With its high-rise buildings, many apartments and commercial spaces are available for rent and sale. This community is easily accessible by Metro Station, being located between Emirates Towers and Financial Centre metro stations.

How to start a business in DIFC

Owing to its ideal location, DIFC provides a secure and efficient platform for businesses and financial institutions to reach into and out of the emerging markets of the region. DIFC has its own independent, internationally regulated and judicial system, common law framework, global financial exchange, and a large business community.

DIFC offers the chance to get 100% ownership of your business. They are regulated by the Dubai Financial Services Authority that grants licenses and regulates the activities of financial services being conducted through DIFC.

Moreover, DIFC provides a guarantee of zero taxes for up to 40 years, on both corporate income and profits, owing to the UAE’s treaties with regulators and central banks regarding taxation.

Operating in DIFC is quite simple and efficient. DIFC is equipped to provide a wide range of services from registration, incorporation, licensing, leasing and employee sponsorship processes, commercial property ownership, query handling, issue resolutions, expansion assistance and client induction.

Buying or renting in DIFC

DIFC offers commercial office spaces, business centres, dynamic retail spaces and modern data centres. All these spaces are equipped with the latest facilities, safety and security systems, easy accessibility and many more.

  • Commercial office space

Commercial office space is available either as leased office services, leased offices and serviced offices. Registered companies have the option to choose a suitable commercial office space for their business.

  • Leased office space

This type of space is equipped with all the required facilities and services. You can easily rent out this space at just AED 19,200 per annum.

  • Leased offices

You can choose from a variety of floor plans provide layout opportunities suitable for office space. These offices are available from AED 396,000 per annum.

  1. Full floor (Index Tower) – Starting from AED 4,633,200 per annum
  2. Half floor (Burj Daman) – Starting from AED 3,891,467 per annum
  • Serviced offices

Serviced offices are available on flexible lease terms, and they cater to requirements up to 800 sqft. These offices are equipped with all the modern furnishings and facilities that are needed to provide an ideal base from which small companies, newly established or firms may expand and grow their business. It is available to be rented starting from AED 122,000 per annum.

  • Retail space

DIFC leases office space to a range of retail businesses from restaurants, art galleries, grocery stores, pharmacies, nurseries, fitness centres, health and beauty outlets, and technology and office support. The retail space can be rented starting from AED 104,500 per annum (Index Tower) to AED 580,580 per annum (Central Park Tower).

  • Business Centres

Business Centres meet the demands of financial and business professionals by providing multi-purpose offices with impressive high-tech services, dedicated IT support and fully furnished meeting rooms.

These are available on quite flexible lease terms. The average rent of the business centre is AED 230,400 per annum (DIFC Tower).

  • Event spaces

The DIFC offers spectacular event spaces that can be modified to suit any occasion. Moreover, the East and West Wing areas are also available for booking during the daytime as well as at night for smaller events, exhibitions and receptions of 50-70 guests. These spaces are usually available at AED 100 per hour.

  • Data Centre Hosting Facility

DIFC data centre provides a secure and resilient infrastructure to ensure minimum risks and maximum uptime. As a result, DIFC has built four state-of-the-art data centres within the DIFC campus offering hosting services tailored specifically to its prestigious financial and business requirements.

  • Studios and apartments in DIFC

The average rent for a studio in DIFC is AED 65,000 per annum. Whereas the average rent for a 1-bedroom apartment is AED 100,000 per annum. While people who are looking to buy a one-bedroom apartment can get it at around AED 1,600,000.

DIFC is a great option to consider especially when you are a single and young professional who is looking to excel in the finance world.  Since DIFC aims to become a global financial hub, it has attracted many highly qualified expats.

If you are looking for a commercial or residential space in the DIFC area, then do not hesitate to contact us. For any further questions, assistance or a fast quote, you can call our help centre between 8.30 am to 5.30pm from Saturday to Thursday. We can not only help you find that perfect location but also guide you in setting up your business.

DMCC Free Zone Area Guide

Dubai is undoubtedly considered to be the global gateway to the Middle East, providing opportunities for people to invest in a wide range of business services and infrastructure.

Dubai boasts of having a four-times crowned Global Free Zone and the world’s first-ever free zone, Dubai Multi Commodities Centre (DMCC). Established in 2002 as a government entity in the centre of the Jumeirah Lakes Towers district (JLT), it has the sheer aim to make Dubai the most preferred destination for commodity trade flow.

Moreover, DMCC is not only home to a dynamic community, innovative and state-of-the-art infrastructure, excellent services, but it also has a spectacular range of properties to choose from, all of which are just a few minutes away from main locations.

DMCC in Jumeirah Lakes Towers is a 200-hectare mixed-use free zone that is grouped into clusters each comprising three tower blocks. With 68 towers and the development comprising approximately 180,000 sq/m of commercial, residential and retail space, DMCC is considered to be in a class of its own.

Essential steps to starting a business

There is no doubt that setting up a business in a free zone is quite easy, however, you have to go through a certain procedure in order to achieve that.

Whether you want to set up a new company or simply establish a wholly-owned subsidiary in DMCC, the entire process is quick, easy and clear as the free zone authorities require minimum paperwork and duration. The following steps will help you set up your business in a free zone.

  • Determine the type of legal entity

You need to decide which type of license you want and what business activity you want to conduct. It is really important to know which documents you require for the process. You can calculate all costs involved by using the DMCC cost calculator.

In DMCC, the minimum share capital for forming a free zone company is AED 50,000 per company and AED 10,000 per shareholder. For a company to be issued a General Trading License, it should have a minimum of AED 1 million share capital.

  • Choose a trade name

Submit an online registration form. Complete the form, pay the initial application fee of AED 1,035 and submit your application. After seven working days, DMCC will complete the company name reservation, management and compliance approval.

  • Apply for a business license

In DMCC, you can choose from over 600 business activities ranging from over 20 sectors such as energy, commodities, gold and diamonds, technology, construction, FMCG, healthcare, aviation, shipping, education, media, professional services, financial services and personal and community services. Apply for that specific business license.

  • Choose an office space

You can either buy or lease office spaces in free zones. Office requirements depend on the number of employees and type of business activity of your company.

In DMCC, you can choose from a Flexi desk of 200-300 sq.ft., a Flexi office of 2000-2650 sq.ft., or offices running through multiple floors with a total of 20,000 sq.ft. each. Choose a perfect office space. Finally, sign and submit the relevant documents for your new office space.

  • Get pre-approvals, register your business and finally get your license

Make sure that you pay the registration and license fees and sign legal documents. Within 5 working days, DMCC will issue a provisional approval and bank letter (to open a company bank account). Finally, after 5 working days, DMCC will issue your E-License, so you will be ready to do business in DMCC.

There will be a number of things which you will need before applying:

  • Online pre-approval application form
  • Copy of your passport, UAE residence visa and a copy of your Emirates ID
  • Proof of residential address in the country of residence
  • Copy of Company documents
  • Third-party approvals for business activities in DMCC free zone (required once the company is registered)

How to lease or own a commercial space in DMCC

DMCC offers a superb choice of properties that can fit any size and type of business. Owing to 66 towers, you can either opt for fitted space or shell and core or choose serviced offices that are specially designed for smaller businesses.

Flexi-desks are available on a part-time basis while giving your business a full-time physical address and professional appearance. You can access a number of amenities including unlimited access to meeting rooms.

Serviced desks are available for businesses that have full-time staff and therefore require a dedicated desk. Serviced offices are 215 to 279 sq. ft. and fully furnished offices that can comfortably accommodate 2-3 people.

DMCC Free zone also provides fully furnished serviced office spaces that range from 200 sq. ft. to over 6,000 sq. ft. Facilities such as air conditioning, electricity or building service charges are included. Each office has 24/7 access with security as well as shared services like reception, kitchen and free beverages and housekeeping amenities.

DMCC offers a great working environment in the perfect location at extremely affordable rates. It is the perfect location to create any business within reach of thousands of potential clients and the opportunity to work alongside many global leaders.

1.  Full office space

DMCC offers offices that are strategically located in towers covering most areas of the Free Zone. These towers offer offices ranging between 100 sq. ft. and 500 sq.ft. in a luxurious environment, having a rent from from AED 30 per sq.ft. for shell and core and AED 40 per sq.ft. for fitted office.  All services, such as a dedicated telephone and fax numbers, internet connection, fully equipped meeting room facilities and advanced audiovisual technology are usually available, making it an ideal place to set up your business.

2.   Serviced office

For those looking for convenience,serviced offices are available at affordable prices, with rent starting from AED 2,000 per month, depending on the size and location of your chosen office. All offices are fully furnished and equipped with high-speed internet and fiber optic communications. Moreover,  meeting rooms and boardrooms of various sizes are available for bookings for a time span of 10 minutes to a full day. You can benefit from 24-hour access and security; making it the ideal workspace solution for those who want a convenient environment to conduct their business.

3.  Shared space

If you are on a tight budget, then you can still find a place to start your business. You can rent workstations in a collaborative space, that allows you access to a range of excellent facilities and amenities including 24-hour access to Wi-Fi, copy and printing facilities etc. You can easily find co-working spaces at quite an affordable price AED 750 per person/month.

It does not matter whether you are an existing member company or a prospective new business owner, the DMCC Free Zone offers support at every stage of your business journey. This guide will definitely help to provide you with all the necessary information, tools and resources that are required in the building of your business.

If you are looking for a commercial space in DMCC area, then do not hesitate to contact us at. For any further questions, assistance or a fast quote, you can call our help centre at 04 409 0958 between 8.30 am to 5.30pm from Saturday to Thursday. We promise to help you find that perfect property for you and guide you through every step, to get you all set up.

A message from CRC Director

In response to the ever-growing commercial market in Dubai and increased number of inquiries, in 2018, Better Homes’ management decided to make a strategic decision to grow the commercial brokerage department and become the biggest commercial team in Dubai market; We have successfully recruited, trained and built on our diverse team which has led to many success stories and significant increase in the number of transactions since 2018.

In order to better serve our customers and purely focus on the commercial property sector, the next strategic move was to give the commercial department its own identity, brand and space to grow. Better Homes commercial was re-branded to CRC (Commercial Real Estate Consultants) and launched in July 2019. We are now in the process of setting additional value adding services to CRC and to become a comprehensive solution provide within the commercial property sector.

Since the news of the CRC launch and its ambitious vision, we have attracted some of the most talented and experienced individuals within the commercial sector and many of them will become a pivotal part of our future success. We will continue to invest into the CRC brand and will grow it over the next year and we aim to launch our consultancy divisions by Q2 2020.

Ben Bargh
CRC Director

Downtown Dubai Area Guide

Ambitious, stylish, energetic and offering ultimate sophistication in an upscale environment, Downtown Dubai, also called the Centre of Now, with its architecture and views, gives you the sense that you have arrived. A premier luxury community, Downtown Dubai offers one exclusive access to some of the world’s greatest and futuristic skyscrapers, the tallest building in the world, Burj Khalifa, and a distinctive mix of artistically planned residential towers and commercial zones. Downtown Dubai has several world-class hotels including the world’s first Armani Hotel and Emaar’s flagship Address, Vida and Manzil hotels. With Mohammed Bin Rashid Boulevard, the vibrant thoroughfare dotted with cafés and retail outlets, The Dubai Mall, the world’s largest shopping and entertainment destination, The Dubai Fountain, the world’s tallest performing fountain, The Opera District, highlighted by the majestic Dubai Opera and upcoming developments, the paramount allure of Downtown Dubai is a combination of the neighborhood’s  exclusivity, charming architecture, pictorial views, convenient location, lively bustle and a hip urban vibe.

Billed as the world’s most prestigious city, Downtown Dubai embodies the spirit of la dolce vita living, and where everything you could want is at your fingertips. One of the first commercial property developments by Emaar Properties in Downtown Dubai, Emaar Business Park features fully-fitted offices with all amenities. Emaar Square, the established commercial precinct in Downtown Dubai, is a six-tower business complex located next to The Address Dubai Mall hotel and The Dubai Mall and overlooks the commanding Burj Khalifa. With 62,000 sq. ft. of retail options and business services in addition to boutique-style cafes and delis, the complex also has a VIP drop off area, express elevators and lawns that are ideal for corporate events. Tenants benefit from fully fitted offices with a range of amenities including advanced telecom systems, hi-speed internet connectivity, video conferencing facilities and central satellite television.

Get ready for a fresh take of life in the city. Enjoy the constant thrum of energy that reverberates with working in one of the most expensive zip codes in the world. Let the charm of the old ways escort you into the conveniences of the new urban sensibilities. Take time to wander. Explore. Savour. In essence, Downtown Dubai epitomizes everything about living and working in one of the world’s most dynamic cities and offers some of the region′s best commercial property options. Experience the opulent environment and the buzz of a world-famous neighbourhood that is Downtown Dubai.

Explore Downtown Dubai commercial properties furnished with the latest amenities and infrastructure that will seamlessly suit your business needs.

Search here or contact us to begin your journey.

Sheikh Zayed Road District Guide

Easily one of the busiest road networks in Dubai with its multi-lanes of traffic and hemmed in by skyscrapers that add to Dubai’s dramatic skyline, Sheikh Zayed Road is a hugely popular business district. The district’s convenient location provided its original legacy as a gateway for businesses, and with the addition of the metro network, Sheikh Zayed Road has further increased in popularity, quickly developing into one of Dubai’s commercial hotspots.

Home to most of Dubai’s skyscrapers, including Emirates Towers and Burj Khalifa, Sheikh Zayed Road also connects other developments such as Palm Jumeirah, Dubai Media City, Dubai Marina and Dubai Waterfront. Located next to DIFC and Downtown Dubai and easily accessible via the metro network, some of the well-known commercial buildings include Rolex Tower, Emirates Office Tower, Sama Tower, City Tower 2 and Park Place. The Dubai World Trade Center, International Convention and Exhibition Centre, Dubai International Finance Centre are just a walk away.

A walkable community with quick access to a plethora of amenities in the vicinity and beyond, Sheikh Zayed Road is where history, commerce, high-end perks and residential living collide. You will enjoy the constant thrum of energy, whether you are sipping a beverage at a Starbucks café or admiring the area’s contemporary art scene. Set in the middle of a humming metropolis, Sheikh Zayed Road’s exclusive properties keep one close to countless attractions and activities.

Here, historic architecture is beautifully melded with modern design and amenities. An ever-revolving door to an urban, on-your-toes lifestyle, Sheikh Zayed Road is a cultural gateway where Dubai’s history and thriving present intersect. A steady stream of buses and cabs shuttles people in and out, where building facades showcase moments in history. Sheikh Zayed Road’s vast architectural heritage, lush spaces and sheer variety of artistic and cultural avenues help feed multiple audiences—from locals and visitors to high-flying entrepreneurs and business professionals from across the globe. The round-the-clock atmosphere attracts people from all over, 24/7.

Dotted with architectural gems and offering a mix of heritage and cultural cache, Sheikh Zayed Road continues to lure professionals who want more space without sacrificing convenience and prestige. A district that embodies old Dubai’s laidback cool, Sheikh Zayed Road’s well-kept properties offer an unshakable sense of neighbourliness. Unlike the suburban sprawl that has overtaken areas further afield from the city, Sheikh Zayed Road has carefully maintained its unique traditional character, thanks in large part to generations of businesses who continue to operate from the district. Replete with breathtaking office spaces looking out to splendid views and booming businesses, Sheikh Zayed Road continues to herald success and abundance as one of the swankiest zip codes in the city.

Explore Sheikh Zayed Road commercial properties furnished with the latest amenities and infrastructure that will seamlessly suit your business needs.

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Jumeirah Lake Towers Area Guide

A place of work is more than a piece of real estate. It is a living environment that helps individuals and businesses create and experience a rewarding fusion of life and work. Jumeirah Lakes Towers, popularly known as JLT, is a thriving residential and commercial community in the heart of New Dubai and one that is a great destination to live, work and play. Conveniently located off Sheikh Zayed Road and positioned between Damac Properties and DMCC metro stations, JLT provides easy access throughout Dubai’s other key business corridors such as Jebel Ali and Sheikh Zayed Road and popular business hubs such as Dubai Media City and Dubai Internet City. 

Comprising 64 residential, commercial and mixed-use towers, JLT offers an inspiring work environment with its man-made lakes, parks and landscaped spaces. While the residential towers make up 45 percent of JLT, 21 percent is dedicated to commercial office use, hotels, restaurants while and retail outlets make up 34 percent. The area mostly consists of high-rise towers offering a wide range of commercial properties for sale and rent. The 66-storeyed centrepiece, the striking and unmissable Almas Tower, is the tallest commercial building in the Middle East and serves as the centrepiece of the community. Furthermore, JLT is a Free Zone providing business owners with the applicable free-zone business license, a large variety of office options, and access to government and customer services from Dubai Multi Commodities Centre Authority. 

In terms of lifestyle offerings, there are a plethora of restaurants, cafes, convenience stores, boutiques, hotels and leisure outlets spread across the area. The lakefront area provides a perfect setting to unwind and serene ambience to relax with a leisurely walk or a team lunch. The Lakes provide the perfect setting for those who love the outdoors with wide walking, jogging and cycling paths, as well as restaurants and cafés. 

Some of the popular commercial buildings in JLT include Jumeirah Business Centre, Mazaya Business Avenues, Indigo Icon, Tiffany Tower and Goldcrest Executive and come equipped with round the clock security, well-designed spaces, modern interiors, high-speed elevators, car parking spaces, splendid views of the Montgomery Golf Course and the lakes, community pools, recreation decks and an eclectic range of eateries and restaurants for when you need a break from a hectic workday.

Featuring spectacular waterfront views, a diverse set of leisure options along with multi-purpose facilities and amenities, JLT has grown to be one of the most popular neighbourhoods in Dubai and the number one choice for business owners and residents looking for a community where they can live and work.

If you are a business owner who is looking to capitalize on the thriving business environment JLT has to offer, let’s get started! Get in touch to select from a host of JLT commercial properties furnished with the latest amenities and infrastructure that will seamlessly suit your business needs.

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Business Bay Area Guide

Business Bay is to Dubai what the Upper East Side is to New York – an upscale neighborhood and an elite commercial district. Launched in 2003, Business Bay ranks as one of Dubai’s most exciting central business and hospitality precincts, characterized by unique architecture, an unbeatable location and easy access to Dubai’s many attractions. Situated between Dubai Canal and Downtown Dubai, Business Bay provides easy access to the city’s metro network and key arterial roads. It is also located less than 10 minutes’ drive from Dubai International Airport and is closely located to the up-and-coming design destination, Dubai Design District and one of Dubai’s oldest hotspots, Jumeirah.

A high-potential neighbourhood with a unique personality that is trendy and authentic all at once, Business Bay attracts a record number of investors and businesses looking for a different kind of Dubai experience. Modern influences lend charm, while a dynamic populace infuses the neighbourhood with urban sophistication. From its high-rise, high-end towers to the urban serenity of its landscaped spaces, Business Bay is a lively, diverse neighbourhood with all manner of businesses, dozens of restaurants of all types, a growing retail scene and proximity to almost everything in Dubai’s core. Set amidst the gleaming waters of Dubai Canal, Business Bay is home to several high-rises featuring high-profile offices, retail units, world-class hotels such as The Oberoi Dubai, The Taj Dubai and JW Marriott Marquis, (which was until recently the world’s tallest hotel) and shops. Touted to become Dubai’s business hub with office and residential towers offering incredible views, landscaped gardens, excellent transport links and a network of roads and waterways, Business Bay attracts businesses and investors from around the world. Home to numerous futuristic towers that surround the area in addition to iconic towers such as Zaha Hadid’s Signature Towers, Bay Avenue which is Business Bay’s flagship waterfront retail area and the newly constructed Creek extension adding enormously to the district’s appeal as it weaves its way to the waters of the Gulf.

Stretching over 80 million sq. ft and with over 240 towers, whether you are looking for offices for sale, offices for commercial lease or freehold offices, Business Bay has a wide selection of commercial real estate with buildings with modern amenities, where some of the biggest international corporations work alongside retail giants and upscale residential spaces. Business Bay offices for sale are purposely located for international trade as one end of the development is ideally located on Sheikh Zayed Road, with its office towers hosting international firms and the financial institutions of Dubai International Financial Centre.

Getting around Business Bay is a breeze. The commute is short and the area itself has everything you could need with shops, food outlets and other retail amenities. The Business Bay metro station is available for those relying on public transportation along with a selection of taxis and buses that frequent the area.

Popular towers in Business Bay include Vision Tower, Bay Square and The Binary Tower, amongst many others. Explore Business Bay commercial properties furnished with the latest amenities and infrastructure that will seamlessly suit your business needs.

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