It included a discount on rent, granting free months, and installment payments over 12 checks

Exemption from “commission” and insurance.. the most prominent corporate offers for Dubai tenants

Realtors stressed the need for an organized mechanism and criteria for rental offers.

Photography: Patrick Castillo

Recently, several real estate companies launched special offers for renting residential units in Dubai, most notably exempting tenants from “commission” and the value of insurance, while other offers included reducing the annual rent to values ​​​​up to 5000 dirhams, with granting free months, in addition to installment payments. on 12 checks.

Real estate agents considered that these offers, which they described as tempting and generous, come within the framework of competition between companies to attract more new tenants, but they stressed the need for a mechanism and regulatory standards for them, for fear of a kind of confusion in the market.

They expected that more owners and developers would present new offers with the influx of more tourists and investors to the country, in conjunction with the activities of the "Expo 2020 Dubai", and the economic recovery after the "Corona" pandemic.

Top Offers

In detail, "Emirates Today" recently monitored several rental offers put forward by real estate companies and developers on a large number of residential units in Dubai, most notably the exemption from "commission" and the value of insurance.

Other offers also included reducing the annual rent, with values ​​ranging between 3000 and 5000 dirhams, as well as the installment of rental payments on 12 checks, in addition to granting free months.

an important matter

In addition, the managing director of Harbor Real Estate Company, Muhannad Al-Wadieh, said that the offers are an important matter in real estate marketing, explaining that they include many ways to attract dealers, most notably offering a month or monthly free rent, or prizes for furniture vouchers, or moving home furniture. without fees.

He added that the offers also include value-added offers, especially since the past three years witnessed strong competition between companies and real estate owners to keep tenants and maintain high occupancy rates.

Al-Wadiya indicated that there are offers related to reducing the first payment, or exempting from the value of the commission (5%), in addition to additional offers that the tenant obtains after his stay in the property for six months, stressing the need for innovation in the sector, to maintain the investment momentum in it by providing offers of relevant high value.

strong demand

For his part, the founder and director of the Royal Liwan Real Estate Company, Mohamed Hareb, said that there is a surplus supply in the local real estate market for apartments, in contrast to the strong demand for villas and townhouses all over the country.

He stated that major companies in the real estate development sector offer generous offers to rent their buildings, in addition to other offers, explaining that some landlords offer offers to reduce rents for renting vacant units, sometimes up to 14 months rent instead of 12 months, and also without commission at 5%, It was directly from the owner.

Hareb expected that more landlords will offer rental offers with the influx of more tourists and investors to the country, in conjunction with the activities of the "Expo 2020 Dubai" exhibition, and the economic recovery after the "Corona" pandemic.

revision

In turn, the Director General of Awad Gargash Real Estate Company, Dr. Raad Ramadan, said that the rental offers are corrective or competitive among real estate companies, and affect the market, but he pointed out the need for a mechanism and regulating standards for them, otherwise a kind of confusion will occur in the real estate market. .

turnout increased

In the same context, Alaa Masoud, Head of Marketing at Aras Real Estate Group, said that the launch of rental offers by some developers to attract new tenants and fill vacant housing units contributes to an increase in demand from residents in Dubai, and workers outside the emirate, according to whether.

to improve

The real estate expert, Muhammad Al Ali, expected the rental market to improve during the coming period, with the increase in offers, which he considered attractive, and to attract tenants to Dubai.

Realtors: "The offers come within the framework of competition between companies to attract new tenants."

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