Bright Rich | CORFAC International

Dear friends! We are pleased to invite you to the Bright Rich Forum, focusing on the Almaty office real estate market. Experts from the international consulting company Bright Rich | CORFAC International will provide current analytics, discuss the possibility of rental rate decreases, examine whether serviced offices represent a new long-term trend, and give particular attention to investments in the real estate market, including foreign investments. ▪ May 30, 2024, 10:30 am - 1:30 pm ▪ SADU Hotel (128/7 Al-Farabi Ave., Almaty) If you are interested in the forum and would like to participate, please write us a personal message.

Commercial Real Estate Broker is wanted!   We are Bright Rich | CORFAC International company, an international team of real estate market experts. Since 2008 we have been helping to buy, sell, rent and invest in the best properties around the world. Today, our portfolio of transactions exceeds 2 million sq.m   BR | CORFAC International offices are opened in the United Arab Emirates, Kazakhstan and Russia. Among our partners and clients are such companies as BASF, Pepsi, Playrix, Pony Express, DPD, Toyota, Schindler, Maersk and other international companies.   We invest a lot in the development of the company and employees: IT infrastructure, lead generation tools, comfortable offices, and a system of training and mentoring. Each effective employee of the company receives career growth and achieves a high level of income. We are happy to join smart and ambitious people into our team.   What are you going to do:  ·      Closing the deals for the sale and rent of high-class offices ·      Identify customer needs, select objects and make presentations ·      Schedule viewings and consult on site ·      Negotiate and handle objections ·      Work in corporate CRM   How do we see a suitable candidate: ·      Extensive background experience in the office real estate market in Dubai for at least 1.5 - 2 years ·      Advanced or Native English (C1, C2), multi-lingual is an advantage - Chinese, Russian and Arabic speaker ·      Strong networking and sales skills ·      Excellent communication skills and the ability to network ·      Good time management and organization skills, self-driven and hard working   What do we offer: ·      Incoming lead flow ·      Commission from the closed deals ·      Work visa ·      Ultra-modern and convenient CRM ·      Complete database of objects with automatic updates ·      Corporate training: a unique system of introductory courses, trainings and mentoring ·      External training and development at the expense of the company ·      Opportunity for internships in foreign offices, access to international training programs, obtaining master's degrees in commercial real estate ·      Modern office in EMAAR Business Park   Please send your CV to hr@brightrich.com

In the office segment in October 2023, 268 sales transactions were carried out. This is 94% more than in 2022. At the same time, the total area of transactions increased by almost 95%, to 408,044 sq. m. ft. Small offices with an area of up to 1,000 square meters showed the greatest growth. feet and 2,500 – 5,000 sq. ft. The number of transactions for the purchase of such offices increased by 96% and 97%, respectively (October 2023 to October 2022). The price per foot for purchasing an office block has also increased: most significantly in the segment of premises with an area of up to 1,000 sq. m. feet - by 28%. In the office segment with an area of 2,500 – 5,000 sq. feet we see a decrease – compared to last year, the price fell by 42%. The average selling price is 1,093 AED/ sq.m. ft (+15.3% compared to October 2022).

Demand continues to outpace supply in the Dubai residential real estate market. A large influx of foreign buyers and demand from current residents keeps demand for real estate in the emirate at a high level. This trend will continue in 2024. In 2023, the volume of commissioning, according to the Dubai Land Department, amounted to about 50 thousand units, and the population, according to the Dubai Statistics Center, increased by more than 100 thousand people and reached 3.65 million by mid-December. At the same time, high demand is observed both for premium real estate and for a more affordable segment. The supply shortage is especially noticeable in coastal locations and developed districts. Many of them are now completely built up, and there are practically no vacant land plots here. Against this background, developing suburbs are being more actively built up in Dubai — Dubai South, JVC, Arjan, Townsquare, etc. Dubai's attractiveness is enhanced by its economic and social policies, as well as the government's positive outlook and plans, including those reflected in the Dubai 2040 plan.

The number of lease transactions for office and warehouse real estate in Dubai has increased significantly. Compared to October 2022 – 67.1% and 50.8%, respectively. In total, 27,020 transactions were concluded during the period with a total area of 28.3 million square meters. ft. The number of transactions in the office rental segment with an area of 15,000 - 30,000 sq.m. increased the most. feet (1,393 – 2,787 sq. m.) – by almost 79%. The average rental rate for the market as a whole increased by 1.3% and amounted to 79.1 AED/sq. foot. Rent prices have increased most significantly in the office segment with an area of 2,500 – 5,000 sq. m. feet (232 – 464 sq. m). The warehouse real estate rental market also shows positive dynamics in terms of the number of transactions. Here we record growth in all segments. However, the average rental rate for the year remained virtually unchanged – 30.8 AED/sq. foot.

Raduis Group, a warehouse and industrial real estate developer, has become a resident of the Space 1 serviced office, renting 11 workspaces on the 41st floor of Al Salam Tower in Dubai. Bright Rich | CORFAC International acted as a broker of the deal. Radius Group is a leading developer and owner of class A warehouse and industrial real estate. The company is now actively developing in the UAE market, where it plans to sell more than 500 000 sq. m. of effective institutional logistics space in the industrial zones of Dubai and Abu Dhabi. “Currently, the Dubai real estate market is experiencing a shortage of available high-end office space, so finding a suitable unit, especially for small companies, is quite difficult. In addition, tenants are often forced to make repairs themselves, and searching for a contractor and monitoring construction and installation work increases the costs and time of moving to a new office. At the same time, we should not forget that companies that are just entering the Dubai market, in addition to finding an office, need to solve a number of other non-trivial tasks – for example, related to opening a company and a bank account, which is quite laborious and has its own specifics. In such a situation, the help of a broker is useful. The real estate broker will save your resources and allow you to focus on your core business. Serviced offices are an excellent format, offering quick rental of the required number of workplaces with ready-made repairs and furniture. We were able to instantly find an office in a suitable location, making the search and relocation process comfortable for the tenant. And, of course, we are glad to cooperate with real estate industry colleagues ,” – comments Victor Zaglumin, co-founder and partner of Bright Rich | CORFAC International.

We are hiring a real estate broker! We are Bright Rich | CORFAC International company, an international team of real estate market experts. Since 2008 we have been helping to buy, sell, rent and invest in the best properties around the world. Today, our portfolio of transactions exceeds 2 million sq.m BR | CORFAC International offices are opened in the United Arab Emirates, Kazakhstan and Russia. Among our partners and clients are such companies as BASF, Pepsi, Playrix, Pony Express, DPD, Toyota, Schindler, Maersk and other international companies. We invest a lot in the development of the company and employees: IT infrastructure, lead generation tools, comfortable offices, and a system of training and mentoring. Each effective employee of the company receives career growth and achieves a high level of income. We are happy to join smart and ambitious people into our team. What are you going to do: • Closing the deals for the sale and rent of high-class offices • Identify customer needs, select objects and make presentations • Schedule viewings and consult on site • Negotiate and handle objections • Work in corporate CRM How do we see a suitable candidate: • Extensive background experience in the office real estate market in Dubai for at least 1 year • Advanced or Native English (C1, C2), multi-lingual is an advantage - Chinese, Urdu, Hindi and Arabic speaker • Strong networking and sales skills • Excellent communication skills and the ability to network • Good time management and organization skills, self-driven and hard working What do we offer: • Incoming lead flow • Commission from the closed deals • Work visa • Ultra-modern and convenient CRM • Complete database of objects with automatic updates • Corporate training: a unique system of introductory courses, trainings and mentoring • External training and development at the expense of the company • Opportunity for internships in foreign offices, access to international training programs, obtaining master's degrees in commercial real estate • Modern office in EMAAR Business Park Please send your CV to us at hr@brightrich.com

Raduis Group, a warehouse and industrial real estate developer, has become a resident of the Space 1 serviced office, renting 11 workspaces on the 41st floor of Al Salam Tower in Dubai. Bright Rich | CORFAC International acted as a broker of the deal. Radius Group is a leading developer and owner of class A warehouse and industrial real estate. The company is now actively developing in the UAE market, where it plans to sell more than 500 000 sq. m. of effective institutional logistics space in the industrial zones of Dubai and Abu Dhabi. “Currently, the Dubai real estate market is experiencing a shortage of available high-end office space, so finding a suitable unit, especially for small companies, is quite difficult. In addition, tenants are often forced to make repairs themselves, and searching for a contractor and monitoring construction and installation work increases the costs and time of moving to a new office. At the same time, we should not forget that companies that are just entering the Dubai market, in addition to finding an office, need to solve a number of other non-trivial tasks – for example, related to opening a company and a bank account, which is quite laborious and has its own specifics. In such a situation, the help of a broker is useful. The real estate broker will save your resources and allow you to focus on your core business. Serviced offices are an excellent format, offering quick rental of the required number of workplaces with ready-made repairs and furniture. We were able to instantly find an office in a suitable location, making the search and relocation process comfortable for the tenant. And, of course, we are glad to cooperate with real estate industry colleagues ,” – comments Victor Zaglumin, co-founder and partner of Bright Rich | CORFAC International.

The number of lease transactions for office and warehouse real estate in Dubai has increased significantly. Compared to October 2022 – 67.1% and 50.8%, respectively. In total, 27,020 transactions were concluded during the period with a total area of 28.3 million square meters. ft. The number of transactions in the office rental segment with an area of 15,000 - 30,000 sq.m. increased the most. feet (1,393 – 2,787 sq. m.) – by almost 79%. The average rental rate for the market as a whole increased by 1.3% and amounted to 79.1 AED/sq. foot. Rent prices have increased most significantly in the office segment with an area of 2,500 – 5,000 sq. m. feet (232 – 464 sq. m). The warehouse real estate rental market also shows positive dynamics in terms of the number of transactions. Here we record growth in all segments. However, the average rental rate for the year remained virtually unchanged – 30.8 AED/sq. foot.

Demand continues to outpace supply in the Dubai residential real estate market. A large influx of foreign buyers and demand from current residents keeps demand for real estate in the emirate at a high level. This trend will continue in 2024. In 2023, the volume of commissioning, according to the Dubai Land Department, amounted to about 50 thousand units, and the population, according to the Dubai Statistics Center, increased by more than 100 thousand people and reached 3.65 million by mid-December. At the same time, high demand is observed both for premium real estate and for a more affordable segment. The supply shortage is especially noticeable in coastal locations and developed districts. Many of them are now completely built up, and there are practically no vacant land plots here. Against this background, developing suburbs are being more actively built up in Dubai — Dubai South, JVC, Arjan, Townsquare, etc. Dubai's attractiveness is enhanced by its economic and social policies, as well as the government's positive outlook and plans, including those reflected in the Dubai 2040 plan.