Dubai’s holiday home sector is experiencing further growth, with the latest figures released by Dubai’s Department of Tourism and Commerce Marketing (DTCM) revealing a total of 1,805 approved units to date.
Growth is being driven by government regulations designed to increase competitiveness, transparency, safety and standardisation, and comes following DTCM’s decision earlier this year to allow private homeowners to apply for a holiday home permit and start leasing their properties directly, a press statement has said.
Since the introduction of updated regulations in May, 109 homeowners submitted applications for a holiday home permit, of which 39 have now been approved, joining the 78 holiday home operators already doing business in Dubai.
DTCM executive director tourism activities and classification sector Khalid Bin Touq said: “To maintain standards, Dubai Tourism regularly inspects registered homes, which are classified as either ‘standard’ or ‘deluxe’ depending on their offering. At present, 83% of the more than 1,800 approved holiday homes are rated standard and 17% deluxe. Units are spread across the city, with the highest concentrations currently in Dubai Marina, Palm Jumeirah, Jumeirah Beach and Downtown Dubai.”
DTCM inspections ensure that holiday homes are standardised, home owners that do not comply with regulatory demands may be issued with penalties.
Dubai’s holiday home initiatives are part of the emirate’s objectives to further diversify and increase its hospitality offering in line with its tourism vision to attract 20 million visitors per year by 2020.