After firmly entrenching in the Miami market, Hideaway Vacation Homes is set to focus on the short-term rentals segment in the cosmopolitan city of Dubai, which is synonymous with the posh shopping malls, penthouses and real estate activity. In fact, Dubai is one of the top five most visited cities in the world as the short-term rental market flourishes.
The overall real estate industry has experienced significant growth and changes over the past few years. As per the figures issued by Dubai Land Department (DLD), recently Dubai's overall real estate market recorded 670 sales transactions worth Dh2.03 billion, in addition to 112 mortgage deals totaling Dh724.49 million, and 13 gift deals amounting to Dh94.95 million.
The sales included 599 villas and apartments worth Dh1.7 billion, and 71 land plots worth Dh328.06 million. The mortgages comprised 94 villas and apartments worth Dh702.13 million and 18 land plots valued at Dh22.36 million, bringing the total realty transactions of today to over Dh2.8 billion.
Aziz Alharthi, CEO and Founder, Hideaway Vacation Homes, is eyeing major expansion in the upcoming few months which includes foray into the short-term rentals segment in Dubai. Speaking at length about focusing on short-term rentals and his company’s USP, Alharthi explained, “We are bullish about short-term rentals in Dubai simply because we saw a great potential in this city. Dubai's rapid growth in terms of infrastructure is truly remarkable.
"With new restaurants, hotels, and even beaches constantly being inaugurated, it is evident that the city is experiencing a significant surge in development. The rate at which these establishments are popping up every few months showcases Dubai's commitment to providing top-notch experiences for residents and visitors alike.
"This continuous expansion solidifies Dubai's position as a global hub for tourism and hospitality. I strongly recommend people to make real estate investments in Dubai and put the property for short term rentals, instead of just renting in on yearly basis, as it yields higher revenues.
"We at Hideaway will make sure the property generates profitable returns. Our USP is to evaluate our clients’ property and give authentic advice of whether it is going to work or not. We then work on the property to make it a money generating machine for the client. We also help in maintaining the property in a perfect condition.”
About his future expansion plans and Dubai property scenario, Alharthi said, “When it comes to expanding my business, Dubai has always been my first choice. After establishing a successful business in Miami, I now want to focus on the Middle Eastern regions, especially Dubai, as I see a very big opportunity here.
"Being one of the fastest growing cities, Dubai boasts of a world-class infrastructure, booming tourism, strong & transparent regulations, tax free & freeholds. In fact, it even provides real estate investment visa for properties above 1m AED, which no other city in the world offers.”
With so many advantages that this cosmopolitan city has to offer, the future looks bright for the short-term rental space..!
For more information, please contact customercare@hideawaydxb.com
