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Commercial Property Lease Agreement
"I need a Commercial Property Lease Agreement for a retail space in Dubai Mall, with specific provisions for 24/7 operation and digital signage rights, starting from March 1, 2025, with a high-end fashion retail tenant that requires significant fit-out work."
1. Parties: Identification of the Landlord and Tenant, including full legal names, trade license details, and authorized signatories
2. Background: Brief context of the agreement and confirmation of the Landlord's ownership and authority to lease the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the leased property, including its location, size, and boundaries
5. Term and Renewal: Duration of the lease, commencement date, expiry date, and renewal terms
6. Rent and Payment Terms: Rent amount, payment schedule, security deposit, and other financial obligations
7. Service Charges: Details of additional charges for building services, maintenance, and utilities
8. Use of Premises: Permitted use of the property and any restrictions on business activities
9. Tenant's Obligations: Comprehensive list of tenant responsibilities including maintenance, repairs, and compliance with regulations
10. Landlord's Obligations: Landlord's commitments regarding property maintenance, insurance, and services
11. Insurance: Required insurance coverage for both parties
12. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises
13. Alterations and Improvements: Rules regarding modifications to the premises
14. Default and Remedies: Events of default and corresponding remedies available to either party
15. Termination: Conditions and procedures for early termination
16. Handover: Conditions and procedures for property handover at the end of the lease
17. Notices: Methods and addresses for official communications between parties
18. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for dispute resolution
1. Force Majeure: Provisions for unforeseen circumstances preventing performance of obligations - particularly relevant post-COVID
2. Break Clause: Optional early termination rights - included for longer-term leases
3. Fit-out Works: Specifications for initial tenant improvements - relevant for shell-and-core properties
4. Trading Requirements: Specific operating hours and trading conditions - relevant for retail properties
5. Service Level Agreement: Detailed service standards - relevant for high-end commercial properties
6. Green Lease Provisions: Environmental and sustainability requirements - relevant for LEED-certified or sustainable buildings
7. Exclusivity Clause: Restrictions on leasing to competitors - relevant for retail properties in malls
8. Signage Rights: Regulations regarding external signage - important for retail and branded premises
1. Property Floor Plan: Detailed floor plan showing the leased area and common areas
2. Rent Payment Schedule: Detailed breakdown of rent payments, including any stepped increases
3. Service Charge Budget: Itemized list of service charges and estimated annual costs
4. Handover Condition Report: Detailed description and photographs of the property condition at handover
5. Fit-out Guidelines: Technical specifications and requirements for any tenant improvements
6. Building Rules and Regulations: Comprehensive list of building rules, including access times and security procedures
7. Permitted Alterations: List of pre-approved alterations that can be made to the premises
8. Equipment Inventory: List of any equipment or fixtures included in the lease
Authors
Retail
Office Space
Industrial
Hospitality
Healthcare
Education
Financial Services
Technology
Manufacturing
Logistics
Professional Services
Food and Beverage
Entertainment
Automotive
Real Estate
Legal
Finance
Operations
Facilities Management
Real Estate
Procurement
Compliance
Risk Management
Business Development
Property Management
Administration
Commercial Operations
Chief Executive Officer
Chief Financial Officer
Real Estate Manager
Facilities Manager
Legal Counsel
Property Manager
Operations Director
Business Development Manager
Finance Director
Commercial Manager
Procurement Manager
Asset Manager
Compliance Officer
Risk Manager
Store Manager
Branch Manager
Regional Director
Leasing Manager
Contract Administrator
General Counsel
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