Shopping review in Dubai + (best areas | price)

Why Buy a Shop in Dubai?

Dubai is rapidly becoming a global city. With its high security, active government, stunning skyscrapers, and tourist attractions, Dubai has become an ideal place for business. By studying the 7 points below, you’ll fully understand the answer to this question.

1. High Return on Investment

Dubai is one of the fastest-growing economies in the world. The city’s continued economic growth has led to an increase in demand for commercial real estate.

2. Affordable Payment Plans

One of the major advantages of buying a shop in Dubai is the reasonable prices for ongoing projects and flexible payment plans. These plans offer an excellent opportunity for both experienced investors and new buyers to enter the commercial real estate market.

3. Long-Term Residency

By purchasing a shop worth at least AED 2 million, you can obtain long-term residency (Golden Visa) in Dubai. This visa not only frees you from concerns about residency but also allows you to bring your family to Dubai.

4. The Safest City in the World

Dubai is recognized as one of the safest cities in the world. The low crime rate in the city allows businesses to operate without worrying about issues such as theft or other crimes.

5. Technological Advancements

The advanced technology and public transportation systems in the city ensure that even if your shop is not in a central location, you can still attract many customers who are visiting Dubai’s popular attractions.

6. Free Zones for Investment

Dubai has designated free zones that allow foreign investors to purchase commercial properties without the need to partner with a local individual. Some of these free zones, such as Downtown Dubai, Dubai Marina, and Business Bay, are highly profitable locations for purchasing shops due to the high customer traffic.

7. Political Stability

In recent years, Dubai has become a politically stable city. This stability has helped keep the value of commercial real estate steady, ensuring that your investment remains secure in the long term.

Best Shopping Centers in Dubai for Buying a Shop

When you decide to start your own business in Dubai and buy a shop, it’s essential to explore the best shopping centers in the city. Dubai has numerous shopping centers, but have you considered which one is the best choice for you? Here is a list of the best shopping centers in Dubai for purchasing a shop:

• Al Ain Mall
• Al Ghurair Centre
• BurJuman Centre Dubai
• Deira City Centre
• Dubai Festival City Mall
• Emirates Towers Boulevard
• Ibn Battuta Mall
• Mall of the Emirates
• The Dubai Mall

1. Buying a Shop at Al-Ain Mall

Al-Ain Shopping Mall is one of the famous and luxurious shopping centers in Dubai, which opened in 2001. This mall, covering an area of approximately 2.5 million square feet and housing 350 international stores, holds a special position among shopping centers. If you’re looking to sell electronic products and accessories, Al-Ain is the best option for you.

2. Buying a Shop at Al-Ghurair Centre

Al-Ghurair City Mall is the first modern shopping center in the Middle East, housing over 300 international brands. This location is ideal for selling products such as traditional Emirati clothing or electronics and attracts a diverse range of customers.

3. Buying a Shop at BurJuman Centre Dubai

BurJuman Centre is one of the oldest shopping malls in Dubai, and with more than 200 stores, it is a popular family destination. If you plan to sell luxury products or well-known brands like Adidas or H&M, this center would be the best choice for you.

4. Buying a Shop at Deira City Centre

Deira City Centre is a shopping mall that combines international brands with diverse budgets. Here, you can find everything from prominent brands like Lacoste and Armani Exchange to local souvenirs. If you’re looking for a space to operate in the international brand sector, Deira City Centre is an ideal option.

5- Buying a Shop in Dubai Festival City Mall

Dubai Festival City is a connected shopping complex with 600 stores and 100 restaurants and cafes, making it an excellent choice for starting a retail business. The mall offers shops with international brands and numerous business opportunities.

6- Buying a Shop in Emirates Towers Boulevard

The Emirates Towers Boulevard, featuring stores of well-known brands like Armani, is a prestigious shopping destination for designer boutiques. If you are looking to operate in the luxury products and high-end brand market, this is the ideal place for you.

7- Buying a Shop in Ibn Battuta Mall

Ibn Battuta Mall, with its six distinct themes, is one of the most unique shopping centers in Dubai. It’s a place where you can experience shopping, dining, and entertainment all at once. If you’re looking for a different space to attract customers, Ibn Battuta is the best option.

8- Buying a Shop in Mall of the Emirates

Mall of the Emirates, one of the largest shopping centers in Dubai, houses over 200 stores featuring renowned brands and major retail chains. It is an excellent and practical choice for investment in Dubai.

9- Buying a Shop in The Dubai Mall

The Dubai Mall, the largest shopping center in the world, is an ideal location to start your business alongside renowned global brands. Additionally, it offers numerous entertainment facilities such as diverse restaurants and cafes, ensuring high customer traffic.

Factors Affecting the Price of Buying a Shop in Dubai

The price of shops in Dubai is heavily influenced by several factors, including the following key aspects:

• Location: Shops located in popular and tourist areas like Downtown Dubai or Dubai Marina have much higher prices compared to less-known areas. Free zones also tend to have higher prices due to high demand from foreign investors.
• Type of Property and Size: The size and type of the shop play an important role in determining the price. Smaller shops and retail stores generally cost less compared to larger commercial spaces.
• Amenities and Facilities: Access to amenities like parking, public transportation, and proximity to major shopping centers can increase the price of shops.
• Payment Plans and Pre-Sale Properties: Flexible payment plans and pre-sale properties offer more attractive prices, making them appealing to investors.

A Brief Look at Shop Prices in Dubai

Shop prices in Dubai start at a minimum of AED 500,000 for less-known areas and can reach several million dirhams in luxury shopping centers such as The Dubai Mall and Dubai Marina. For example, the price of smaller shops may range from AED 800,000 to AED 1.5 million, while larger shops in luxury areas can exceed AED 5 million.

Latest Regulations for Commercial Property Purchases in Dubai in 2024

The year 2024 has seen significant changes in commercial property laws in Dubai, providing you with more confidence to enter this market and a better understanding of the pros and cons of buying a property in Dubai.

1- Foreign Ownership and Free Zones

As a foreign investor, you can fully own commercial property in Dubai’s free zones, such as Downtown Dubai and Dubai Marina.

2- Registration and Transfer Fees

All real estate transactions must be registered with the Dubai Land Department (DLD). This process includes a transfer fee of 4% of the property’s value. In some cases, developers may even waive this fee to make the investment more attractive.

3- Residence Visa

By purchasing a commercial property valued at a minimum of AED 750,000, you can apply for a long-term residence visa. This visa not only grants you residency but also allows your family to live in Dubai long-term.

Review of Some Costs for Purchasing Ready-to-Move Commercial Property in Dubai

This table will help you be fully informed of all related costs before buying a commercial property in Dubai, allowing you to make better financial decisions and have a more successful investment.

Things to Consider Before Buying a Store in Dubai

If you follow all these steps carefully, you can establish a profitable store in Dubai:

Business License

One of the most important steps for opening a retail store in Dubai is obtaining a business license. The Dubai Department of Economic Development (DED) is responsible for issuing these licenses and providing the necessary approvals to start your business.

Location

Choosing the right location for your store is one of the most important factors for the success of your business. Dubai is divided into two areas: the mainland and free zones. Free zones such as DMCC, Jumeirah Lake Towers, and DIFC are among the most vibrant and sought-after locations in Dubai.

Local Sponsor

If your store is located in the mainland area of Dubai, you will need a local sponsor. This sponsor will hold 51% of the shares in your business. However, if your store is located in a free zone or freehold property, you will not need a local sponsor.

Legal Requirements

To start your business, you will need PRO (Public Relations Officer) services for executive responsibilities and follow-ups. Additionally, registering your trademark and obtaining necessary permits from various organizations are actions that need to be taken.

Final Thoughts on Buying a Store in Dubai

Imagine that with a smart investment, you can not only generate a steady income from a store in Dubai but also receive stay in Dubai by buying a property! Buying a store in Dubai can make you eligible for a Golden Visa, which allows you and your family to stay in Dubai for up to 10 years.