- Virtual working visa and multiple entry visa expected to spur further growth in industry
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 implemented to spur further global tourist arrivals to the country.
Nasma Luxury Stays, a division of Al Tamimi Investments and a specialist in executive living and luxury vacation rentals, made the statement after the government’s recent introduction of the virtual working visa. The new policy was issued on the heels of the official implementation of the new UAE visa tourist rules to become effective on October 3rd.
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 travelers 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 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 travel industry news sites reported that the emirate alone received more than 7.12 million international overnight visitors during the first six months of 2022, an exponential 183% year-on-year growth.
According to Nasma, 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.
Nasma noted that the global trend has opened up promising prospects for luxury property and second-home owners to enjoy better returns on their property investments.
“The demand for short-term rentals provides them a new attractive income stream in which they can offer their second homes to those seeking to enjoy all the luxuries associated with a 5-star hotel within a comfortable, warm home environment. They can do so without losing access to their property during their holiday break or whenever they want to use it,” Tabbara said.
The 100% UAE-owned Nasma has been leading the way in offering luxe executive living and holiday homes in Dubai and most recently Abu Dhabi. It provides comprehensive end-to-end property management on behalf of the property owners whilst at the same time ensuring renters and guests will come across authentic experiences during the duration of their stay in the properties it manages.
Since its inception, Nasma’s curated staycation and beachfront properties located in prime locations in the UAE have been witnessing high occupancy rates, especially from December to March.
The guests are attracted to the warm, comfortable place that the properties offer alongside their access to magnificent views and full amenities.
The company manages properties in premier areas such as Jumeirah Beach Residence (JBR), Palm Jumeirah, Dubai Marina, Downtown Area, Dubai International Financial Centre (DIFC), City Walk, Blue Waters, Dubai Creek Harbour and Dubai Hills, amongst others.
Nasma was one of the first companies to be licensed by the Department of Tourism and Commerce Marketing (DTCM) since the government started regulating Dubai’s vacation homes industry in 2015. It is amongst the few companies that cater to the high-end market.