Lofts leasing report oct15

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

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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.

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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

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