Seven Tides announces reduced lease rates for business tenants
The leasing contracts are inclusive of utilities such as electricity and water, cooling charges, and service charges
UAE-based property developer Seven Tides has announced a 12-month leasing agreement for potential business tenants at The Offices at Ibn Battuta Gate.
The developer is offering business tenants fitted and ready-to-move-in office spaces at a reduced rate of $24.5 (AED90) per square foot, for offices 1,000 sq ft and under.
The leasing contracts are inclusive of utilities such as electricity and water, cooling charges, and service charges.
The current occupancy at The Offices at Ibn Battuta Gate is at 78% out of a total of 467 units.
Of the overall office space, 40% is leased by general trading companies, 20% by technical services and the remainder are occupied by companies operating in the hospitality, tourism and educational sectors.
Speaking about the agreement, chief executive officer of Seven Tides, Abdulla Bin Sulayem, said: “For businesses, especially SMEs, positive cash flow is critical and as a result, they are always looking for the best possible payment terms on office space.
In addition to combining a competitive price point with flexible payment options, as well as fully fitted and adaptable office space, our unique selling proposition remains our prime location.”