Dubai Chamber mulls over commercial property leases

01/07/2009 - Dubai Property News
Dubai Chamber mulls over commercial property leases

The Dubai Chamber of Commerce and Industry has organised a roundtable discussion at its headquarters to discuss market trends and legal aspects of renting commercial property in Dubai.

Stephanie Selier, an associate at Trench & Associates, which led the discussion with small and medium-sized businesses, said that it is vital that companies seek sound legal advice prior to leasing out commercial property in Dubai.

Craig plumb, head of research at JLL, said that the market has become considerably more favourable for smaller renters in recent months.

"For the first time, tenants have a significant choice of space, with the overall vacancy level having increased from less than five per cent to over 20 per cent," he commented.

Last month, the chamber also hosted the second economic seminar of the year at its headquarters, with Dr Belaid Rettab, executive director of economic research and the sustainable business development sector, announcing in his opening speech that the organisation will continue to serve the commercial sector in every way possible.ADNFCR-2019-ID-19245798-ADNFCR