Real Estate: Silver Wave Tower, Al Mina, Abu Dhabi

Real Estate: Silver Wave Tower, Al Mina, Abu Dhabi

The real estate under consideration in this project is Silver Wave Towers found Al Mina, Abu Dhabi. It is one of the real estate properties that belong to the UAE. The tower is strategically located along the Corniche that gives easy and direct access to Abu Dhabi’s central business district, ports, and hotels. It has high security, and residents feel safe all the time. Silver Wave has many luxurious apartments that include suites and offices for rent.  Silver Wave skyscraper is 38-story high with more than 42 levels, ten floors, and 26 residential floors. It is recognized as the most superior and convenient choice for businesses in the region. Offices within the tower are spacious and well lit for convenience.

Investing in Silver Wave Towers would be lucrative, especially for businesses that target customers from the central business district in Abu Dhabi. The target market for the tower is mostly business people in Abu Dhabi. Its customers mainly come from First Gulf Bank, Abu Dhabi National Hotels, and Etihad Airways.  Most of the offices in the tower are rented by UAE exchange and the commercial bank of Abu Dhabi. For retail space, the rent per year is approximately 159,000 AED, and business centers cost approximately 40,000AED per year while at the Mussafah Industrial area, new offices cost 15,000 AED annually (Property Finder, 2019). Other target markets include startup businesses that require less spacious rooms that are affordable, those who need conference rooms and showrooms. It is noted that Silver Wave Tower returns per month is approximately 456009 AED per second class office suit. Currently, due to decreased trade barriers, the tower targets international business investors, and it projects a significant rise in project returns.

Giliberto (1990) points out that in the Abu Dhabi market, most offices are expensive for startup businesses, Silver Wave Towers presents an opportunity for such small entrepreneurs to rent offices.  It gives greater strategic and financial flexibility. With Silver Wave offices, small business is sure of smooth running and operation in case of risks because they are insured. The insurance cover helps businesses mitigate any occurrence if business hazards. For example, in case of risk of fire at the towers, affected companies will be compensated for their losses. Besides, offices at the tower help business retain more working capital, which opens up more opportunities for business expansion. Silver Wave Towers provides a professional image and conveniently shared space.  The existence of many offices at the tower helps businesses share different ideas and explore more opportunities.

According to Property Finder UAE, the towers market is concentrated in Abu Dhabi (Del Giudice et al.,2019). Being the second-most populous city in the United Arab Emirates, Abu Dhabi provides a wealthy market for Silver Wave Towers. Further, business people from Dubai who desires for an extra cool and less noisy places opt for Silver Wave Tower offices. The customers in the Abu Dhabi market cares more about convenience in terms of transport and communication networks. Also, more customers are attracted due to spacious and silent offices on the outskirts of the city. Some customers also care about the prices of the offices and how well they have vanished. It is noted from customer feedback that Silver Wave Towers have well-organized offices with various access points and parking lodges. The building has several competitors, such as those at the industrial parks that offer low prices. They include Muroor Area, Al Fahim Building, and Tourist Club Area. However, Silver Wave Towers have a broad base of the customer with the true taste of the offices. For profitable returns, it is advisable to consider a second class office in the towers for investment. In this case, the project will present data on Great Deal’s second class offices with a city view.

Silver Wave Towers

Name: Great Deal offices

Given the above data, the yearly rental cost is approximated at 100,000 AED. This is cheaper as compared to first-class offices in the same tower that would cost 50,000 more. Settling on Great Deal offices will be ideal for maximum profit. Furthermore, the offices are operational in twenty-four hours, therefore, producing returns at a high rate. The office is selected for its high valued investment purposes. Based on the market search, Silver Wave Towers provides the best rental offices in the Abu Dhabi market. Its prices are affordable with high security (Property Finder, 2019).  Clients are the priority in the towers business with high customer attraction strategies. It provides its customers with less expensive office suits than current market prices.

Further, offices at Silver Wave Towers are hassle-free; therefore, do not attract more charges. Besides, the offices are flexible, and customers are allowed to move freely from one room to the other. Customer’s feedback shows that Silver Wave Towers has a minimal financial burden to the clients for rents are paid once a year with a high rate of waiver.

Investing in Great Deal offices will provide a direct income stream and marks the most significant rental return. According to the Emirates market, rental offices offer income property value growth and sweat equity. Tenant risks are reduced, and REITs increased. Owning a rental office is an excellent investment opportunity because they have more financial rewards. Market search shows that Abu Dhabi and Dubai market thrives as the best income potential, which is the main reason to invest in Great Deal offices. Another reason for investing in the building offices would be for its professional relationships where small businesses can interact with substantial business and share professional ideas. As landlords and tenants interact, a business-to-business relationship is created for the benefits of all the parties. In the public eye, retail tenants improve the quality of the property and ultimately increase the value of the investment. This project is more objective in price evaluations giving project evaluators alternative prices to consider. Furthermore, Silver Wave Tower properties prices are not based on emotional pricing. In this connection, residential real estate investment property is worth consideration.

In a nutshell, Silver Wave Towers office properties have features of triple net leases in which the property owner does not have to pay any expenses on the property. The leases handle all costs, and as mortgages are paid, every risk and costs are covered. Investing in Silver Wave Towers would be lucrative, especially for businesses that target customers from the central business district in Abu Dhabi. With its target market being mostly business people in the Abu Dhabi and entrepreneurs from Dubai, it can have high returns on investment annually.

References

Del Giudice, V., De Paola, P., Francesca, T., Nijkamp, P. J., & Shapira, A. (2019). Real estate investment choices and decision support systems. Sustainability, 11(11), 3110.

Giliberto, M. (1990). Equity real estate investment trusts and real estate returns. Journal of Real Estate Research, 5(2), 259-263.

Property Finder (2019). “Apartments for Rent in Silver Wave Tower – 7 Flats for Rent: Property Finder UAE.” Propertyfinder.ae, www.propertyfinder.ae/en/rent/abu-dhabi/apartments-for-rental-mina-silver-wave-tower.html.