Dubai Customs is set to launch a groundbreaking digital platform that allows warehouse owners across the UAE to list their properties for lease, in what has been termed the ‘Airbnb of warehouses.’
The Warehouse Platform, showcased at Gitex Global 2024, is expected to transform the leasing process for warehouse spaces by offering a centralized system that simplifies registration and leasing.
Warehouse owners, whether they manage refrigerated, dry, or air-conditioned facilities, will be able to list their properties for leasing purposes. The platform will streamline the process, offering options based on size, location, type, and lease duration, making it easier for businesses to find the right storage solutions.
This initiative comes as demand for warehouse space in Dubai continues to outstrip supply. According to Knight Frank, Dubai recorded 9.9 million square feet of new warehouse requirements in the first nine months of 2023, while the supply of under-construction warehouse stock stood at just 1.56 million square feet.
Rising demand has driven rent prices in Dubai’s industrial and logistics sector, particularly in areas like Jebel Ali Industrial, which saw a 38.5% surge in Grade B rental rates over the past year. Owners of bonded and non-bonded warehouses, both inside and outside free zones, can list their spaces for leasing, with prices set by the owners themselves.
The platform will also include bonded warehouses, offering customs warehouses for goods under suspended duties, providing businesses with greater flexibility in storing and re-exporting products.
The official launch date and listing fees for the Warehouse Platform will be announced soon.
News Source: Khaleej Times
