Umm Ramool is Dubai‘s latest hotspot to setup Office, according to a leading property portal.
With ecommerce district (Dubai CommerCity) planned for Dubai’s Umm Ramool, the area sees 120% surge in those looking to do business there
The latest trends in Dubai’s real estate by Propertyfinder Group revealed the top spots for listings, leads, and price per square foot in the ten most popular communities in the country for offices, warehouses, and retail.
There is no better time to setup your office or shop in Dubai. Not only that you will be spoilt for choice, but also the asking rates.
The numbers to reveal the most popular areas and median asking prices per square foot, among other metrics, to get a sense of the commercial landscape in the UAE.
UAE, for its strategic geo location and modern infrastructure, and thus being the logistics hub for the world, asking prices to rent warehouse space in the UAE is competitive, but Emirates Modern Industrial in Umm Al Quwain offers a relative bargain at AED 22 per square foot. That’s less than half of the most expensive offering in Al Quoz (AED 49 per square foot), off Dubai’s Sheikh Zayed Road.
However, according to PropertyFinder trends the one area to watch is Umm Ramool in Dubai – the city’s planned ecommerce district.
“Starting from a low base, we’ve seen a steady increase in interest in Umm Ramool as more listings come onto the commercial market there,” says Dina Mohammed, Head of Data Science & Analytics for Propertyfinder Group.
With a median price per square foot of AED 45, it isn’t the cheapest option on the market, but its proximity to the airport makes it an attractive spot to set up business.
Whereas many warehouse locations have seen a decrease in asking price per square foot over the six months measured, Umm Ramool saw a 5.75% increase.
Likely assisting in its popularity was the announcement late last year that the area is getting a 2.1 million square foot free zone dedicated to e-commerce, including office space and fulfillment and logistics centres, to be called Dubai CommerCity, a joint venture between Dubai Airport Freezone Authority (Dafza) and Wasl Asset Management Group.