New Visa Schemes to Drive UAE Short-Term Rental Market
The uptick in demand for short-term vacation rentals in the UAE is seen to pick up speed this 2022 following the formal rollout of new visa policies and government’s recent introduction of the virtual working visa. Dani Tabbara, COO of Al Tamimi Investments, said: “The pandemic has transformed the way people live and work, and the two visa policies are reflective of the UAE s flexibility, readiness and commitment to adapt to these changes. The move will meet the contemporary demands of today’s world. The one-year and renewable virtual working visa will specifically draw in a new class of freelancers, digital nomads and travellers to the country whilst the multiple entry visa will benefit visitors who want to stay longer or more frequently in any parts of the Emirates. The two visa schemes are a boon for the industry.” “While the UAE market has long been prepared to cater to the requirements of the tourism sector, the influx of tourists to the UAE will positively impact the hospitality sector, particularly the short-term vacation rental segment. Dubai and Abu Dhabi are popular destinations amongst visitors who are seeking ultimate adventures, beautiful beaches, a unique cultural experience and diverse leisure activities whilst staying in luxe accommodations,” Tabbara added. Outlook on the short-term vacation rental market remains upbeat with the rising popularity of remote working and staycations across the world. The Dubai market is particularly robust, buoyed by the growing tourist arrivals to the country. The remaining half of the year and the upcoming years bode well for the industry, as more tourists are expected to take advantage of the UAE’s visa policies to experience what the country has to offer them. The global trend has opened up promising prospects for luxury property and second-home owners to enjoy better returns on their property investments.
Tags : demand short-term vacation rentals UAE policies government Dani Tabbara COO Al Tamimi Investments