Dubai Unveils the 'Airbnb of Warehouses’

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Dubai Customs is launching a new digital platform, dubbed the "Airbnb of warehouses," allowing UAE warehouse owners to list their properties for lease. The platform, showcased at Gitex Global 2024, aims to simplify leasing processes by providing a centralized system where owners can register and lease various types of warehouses, including dry and air-conditioned facilities. Users will be able to filter options by size, location, type, and lease duration, easing the search for storage space amid rising demand.

Dubai has been experiencing a shortage of warehouses, with supply significantly lagging behind demand. In 2023, only 1.56 million square feet of new warehouse space was under construction, while the emirate recorded 9.9 million square feet of new requirements in the first nine months. This has led to increased reliance on secondary stock and a surge in rental rates, especially in areas like Jebel Ali Industrial, where prices rose by 38.5% in 2024.

The platform, which uses blockchain for security, allows owners of bonded and non-bonded warehouses, both inside and outside free zones, to list properties for a fee. It also includes customs-bonded warehouses where goods can be stored under suspended customs duties, offering benefits like reduced costs and expedited clearance procedures. This innovative platform is expected to attract numerous warehouse owners looking to monetize unused storage spaces.

Source: https://www.khaleejtimes.com/business/dubai-to-launch-airbnb-of-warehouses-where-owners-can-list-properties-for-lease