Lofts Leasing Campaign Report for August-September 2017
Marketing Channels 2/3 On-line Media
1/3 Print Media
Google Ads, Social Media, Email Blast, Whatsapp campaign
Leasing Signage, Open House Flyers
3/3 Property Portals Dubizzle, Propertyfinder, over 90 small portals
2
Property Portal Listings Featured Ads, Banners, Verified Listings
propertyfinder.com
dubizzle.com
3
Email Campaigns Sent to Companies & Real Estate Agencies
Real Estate Agencies
Clients & Companies •TECOM Directory •DMCC Directory •800PROPERTY Clients
4
Outdoor Signage Loft Offices & Office Park
5
Google Adwords Sample
6
Open House Campaign Sunday to Thursday | 10:00am to 5:00pm
7
Lofts Elevations Ad Showing on 386 screens | 97 Residential Towers JBR, Marina, Palm Jum, JLT, Business Bay, Downtown, DIFC, DSO, DSC
8
Lofts Brochure
9
Agents Network Sharing Availability List With Real Estate Brokers & Assisting Them With Client Viewings
KAIZEN AMS Preferred Partners
Emirates REIT Accredited Agencies
28 Agencies
60 Commercial Agents
10
LEASING LEADS
79
351
Total Leasing Leads Aug. - Sept.
Total Loft Offices Leads August to September
39 Leads | Google Ads
8 Leads | Email Campaign
10 Leads | Rent Signages
8 Leads | Lofts Website
10 Leads | Referrals & Other Sources
3 Leads | Property Portals
33% Lofts Leads Aug. - Sept.
1 Leads | Elevision Ad
11
Aug. to Sept. 2017 | Viewings & Offers
79
39
3
Total Leads
Viewings Done
Official Offers
12
Feedback From Potential Tenants
Layout
Marketing
‣ Clients find the office space less efficient than a usual straight office. ‣ The staircase and two washrooms eat away a lot of usable space and during these times everyone wants to optimize maximum area for the rent.
‣ DCCA refers potential new companies to DMC leasing team internally. ‣ Start up companies hear about the Loft Offices after they have already signed.
Pricing ‣ Clients stand to save more by renewing with TECOM instead of doing a new lease at our prices. ‣ New leases in Media City are at AED190 psf all inclusive and if partners fee is added then we are at AED198.33 for new start-ups or Free zone companies. ‣ DMC retains clients downsizing by giving them options in other cheaper free zones.
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What is happening at the Lofts? ‣ We have the lowest occupancy for the year. In total 18 vacant units and 6 upcoming for vacancy.
Who are/were our tenants mostly? ‣ Tech & Social Media Start Ups. ‣ Media, Advertising & Consulting Companies. ‣ All of who are directly & immediately affected by economic downturns.
What choices do the tenants have? ‣ Surrender TECOM FZ license ‣ Move to Cheaper Media Production Zone / Studio City ‣ Downsize on area and team size.
What are we addressing
How is the market environment changing? ‣ DMC is more flexible with letting companies move to other Freezone areas under the DCCA license to retain tenants. 14
Loft Offices Vacant Units, Viewings
and Occupancy Rates 90.89% 88.79%
87.74%
87.7%
87.95% 86.69%
86.35%
86.29%
86.29%
40 22 23 17
18
17
18
18
19
19
Aug
Sep
15
30 13
20
20 18 15
10
16
16
16
Mar
Apr
May
12
0 Jan
Feb
Vacant Units
Jun
Jul Viewings
15
Loft Offices Offers Released 2017
Outcome
26
OffersReleased
10
16
Rejected Offers
Accepted Offers
14 Price
1
Infrastructure
1
License
16
Vacant Offices In Neighboring Buildings.
Building Name
Vacancy
Building 4
7.69%
Building 5
10.71%
Building 6
12.5%
Building 7
5.8%
Building 8
14.14%
Arjaan Offices
2%
*Based on the vacant units on each floor of these buildings.
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Loft Offices
Vacancy Coming In Due To:
29%
45.1%
25.9% Upsizing
Closed
Price Factor
18.5% Downsizing
26.6% Reducing Budgets
11.1%
11.1%
3.7%
Upsizing In DMC
Upsizing In Lofts
Change Unit Location
18