n general, the countries multinational companies with
in the Middle East have investments in Dubai are
seen tremendous growth in searching for commercial property
their already gigantic economy, in nearby areas. New developments
especially in the commercial in nearby areas are being
industry. The stable oil-centered undergone to create the necessary
economy of the Middle East areas space for the investing
has also helped expand other corporations. Thus, even the
sectors of the economy. One such commercial real estate industry
sector that has greatly benefited in outlying areas has greatly
from the country’s established benefited from Dubai’s economy.
economy is the commercial real
estate industry in the region. Another country experiencing a
boom in the commercial real
One of the premiere countries estate industry is Turkey.
experiencing the said boom in the Specifically, Istanbul, the
commercial real estate industry country’s center of finance, is
is the United Arab Emirates. leading the pack. Currently,
Specifically, Dubai is gradually approximately 50% of the
becoming one of the hottest areas population of Turkey is below 25
for commercial investors years of age, which is the
worldwide. The demand for working population. Thus, more
commercial property in Dubai employment opportunities need to
significantly exceeds the be created in the country,
currently available supply. In a promoting the country’s
2006 report, the vacancy rate in commercial real estate industry
the commercial real estate market further.
in Dubai was noted to be -1%.
Because of the large demand for At present, foreign investing is
commercial property, various reaching significant heights.
Similar to the commercial real East. Because of the high demand
estate industry in Dubai, there and inadequate supply for office
is significantly more demand for space, work environments are
commercial real estate space than usually not adequate. Workspaces
there is available supply. Due to tend to be small, and sourcing of
the lack of supply, the value of utilities is occasionally a
the properties in the area goes problem. Also, there are
up. In a few years, investing in occasional disputes regarding the
such properties could result in regulations employed in the
significant capital gains and region, which have a tendency of
returns of investment. All these changing without proper
factors combined make commercial notification and dissemination.
real estate in Turkey very More developments are thus
attractive to investors. necessary to address these
specific commercial real estate
Another factor that makes Turkey issues.
appealing to investors is the
gradually growing industry of The oil-based economy of the
tourism in the country. Although Middle East countries, along with
currently only a tourist the good international relations
destination during the summer, they have formed with countries
projects are underway to promote outside the region, ensures that
the country throughout the year. the commercial real estate
Thus, there is even more demand industry in the Middle East will
for rental homes and hotels in stay strong for many, many years
the area. to come.
However, there are also several
problems in the commercial property market in the Middle type="text/javascript">
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About the Author:
Seth Willis Jr. is the webmaster for http://www.mybizfootprint.com and a savvy real estate investor. His focus for MyBizFootPrint is to allow users to showcase their Commercial real estate from all over the world .Users can browse , rentals,retail, Office space and commercial buildings, commercial properties for sale or lease, from every corner of the globe.
