Write-up featured in Property Weekly Neighbourhood Guide - GulfNews on 30 June 2020 Barsha, Barsha Heights and JVC are great catchment areas that offer a variety of options and lucrative deals

1. Leasing10
JUNE 30, 2020
Property Weekly Neighbourhood Guide
Covid-19drivesdemandfor
short-termrentalsinUAE
Barsha, Barsha Heights and JVC are great catchment areas that offer a
variety of options and lucrative deals
T
he coronavirus pandemic is driv-
ing demand in the short-term rent-
als market in the UAE, say experts.
These include luxury staycations with
private amenities, which are part of the “new
normal” for those seeking leisure activities.
Also with the current situation of job uncer-
tainty, UAE residents are opting to rent holiday
homes that don’t need commitment towards
an annual lease agreement.
Shine Sunny, co-founder and CEO of Raine
and Horne Holiday Homes, says short-term
rentals are currently catering to the domestic
market until international travel starts again.
“Demand comes from UAE residents who are
between jobs, searching for a job or those who
don’t want to sign a long-term lease,” says
Sunny. “Short-term rental offers them an ad-
vantage of a monthly payment with easy exit
terms. Moreover, the market is price sensitive
now, wherein renters are now looking for the
best deals.”
Demand trends
Studios and one-bedroom units are in
demand for a rent period of one and three
months. Fabna Sabeeh, managing director of
Vacation Holiday Homes, says the rental value
of these units have come down by 50 per cent
compared to the pre-Covid-19 days and that’s
another reason for the spike in demand. “Peo-
ple now prefer to move to new units with prop-
er furnishing and better facilities at a reason-
able price. Our JVC units, such as the furnished
Icon Casa studio, have 100 per cent occupan-
cy. Rents in JVC are comparatively cheaper,
and many new apartments are available. The
average monthly rent is between Dh4,000
and Dh6,000 for studios and Dh5,000 and
Dh7,000 for a one-bedroom unit,” she says.
There is growing demand for short-term
rental in Barsha, Barsha Heights (Tecom)
and JVC because these are well-established
communities with access to Metro, as well as
amenities such as Mall of the Emirates and oth-
er conveniences. “Residents can choose from
a variety of options and there are some great
deals to be considered. A large one-bedroom
unit in the ART residences in Barsha, fully fur-
nished, with views of the Burj Al Arab, can be
rented at Dh5,000 plus taxes. If the renter is
willing to commit for three months, they get
further discounts,” says Sabeeh.
Sunny points out that there is heightened
concern on the hygiene of short-term rental
units, with cleanliness and sanitation being
considered over price.
Even outside Dubai, short-term rental
properties in Ras Al Khaimah have occupancy
of up to 100 per cent, especially during week-
ends. Premium units used as short stayca-
tion are growing popular in the UAE as they
often offer more value-added amenities, says
Tomas Dolezal, owner and CEO of Elite Royal
Apartments. “Now with restrictions for chil-
dren being lifted, we see a greater demand for
large units.”
Hotel staycations
UAE residents are also preferring short-
term staycations in hotels to avail of special
facilities, such as in-room dining or even a pri-
vate pool and Jacuzzi.
Mohamed Awadalla, CEO of Time Hotels,
says, “We see the demand, focusing primarily
on one-bedroom hotel apartments, predomi-
nantly on a month-by-month basis,” says
Awadalla. “There is an increase in our food and
beverage room service offering, as our guests
are still conscious of social distancing and
want to enjoy a meal in their room or suite.”
Hotel guests are looking for high levels
of safety and hygiene, want flexible booking
terms and conditions and look for value for
money, ensuring the service provided meets
and exceeds their expectations, says Awadalla.
Hina Navin
Special to Property Weekly
Pictures: Supplied
The furnished Icon Casa in JVC has registered 100 per cent occupancy
UAE residents prefer short-term
staycations in hotels
Demand comes from UAE
residents who are between jobs,
searching for a job or those who
don’t want to sign a long-term
lease. Short-term rental offers
them an advantage of a monthly
payment with easy exit terms.”
Shine Sunny
Co-founder and CEO, Raine and Horne
Holiday Homes