Finding myself in a industrial space…
I began my career in Dubai as a content writer, working for several prominent real estate companies. Ultimately, this is what sparked my interest in the industry and shaped my understanding of the market.
I was introduced to the Managing Director and owner of Edwards and Towers and my journey as a commercial agent began. Six years later, I am still with the company as Head of Commercial.
Commercial real estate can be a lucrative and rewarding field for those who can survive the professional demands. It takes dedication and commitment to ongoing learning as rules and regulations in Dubai change frequently. There is no turning off the phone; I am always online and available to answer client calls and emails.
Commercial deals can be extremely complex and can often take months, and in some cases over a year, to close. As a commercial specialist, you must approach each deal knowing that you may not reap the benefits of your time and effort for some time. It definitely takes a thick skin to be successful in this field.
I am skilled in all areas of sales and leasing, including: offices, industrial, retail, plots, and large-scale assets such as schools, buildings, community centres and hospitals. I am a firm believer that all transactions should be treated equally, from the smallest rental, to the sale of a large-scale asset.
The commercial market in Dubai is constantly evolving, and it is important to maintain pace with the market. Licensing of onshore and offshore properties can be complicated and multi-faceted, so being on the ball is key.
It takes a genuine passion to succeed and set yourself apart in this industry. Whilst commercial real estate may be less glamorous, it yields higher rental income and is catered to a client seeking steady income and returns.
Overall, 2018 was a seller’s market and with this came an opportunity for the savvy investor to purchase strategic trophy assets which retain their long-term value with steady yields. High yield assets such as schools and hospitals were most popular, second to these were small hotels and occupied commercial buildings with ROIs ranging from 7 percent to 9 percent with an average budget of 50-200 million dirhams per asset.
In addition to investor demand, 2018 produced the usual retail and office clientele. Office demand was highest in free zones, with Dubai Media City, Dubai International Finance Centre (DIFC) and Jumeirah Lakes Towers (JLT) seeing the highest requests, particularly for fitted office space.
There is rarely any shortage of retail outlets in Dubai driven by the constant appetite of retailers and new business operations seeking a presence in this market. With an abundance of malls, community centres, retail outlets and standalone stores, clients have several options to choose from. The retail sector will forever remain a strength in the Dubai economy.
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Nationality: British, Belizean
Languages spoken: English, Spanish
This article was originally published in Prestige Magazine, Issue 37.