Dubai has witnessed an average of 42 per cent yearly growth in the holiday homes sector.
That's according to Dubai’s Department of Tourism and Commerce Marketing, which revealed that 7,005 units were rented in 2019 in comparison to 4,738 in 2018.
The tourism authority also revealed that they are anticipating a further increase in the number of property owners moving into the holiday homes business as Expo 2020 Dubai will be attracting a record number of visitors.
An administrative order has been issued to existing regulations, to aid those who wish to obtain a holiday home license in the emirate.
In collaboration with the Supreme Legislation Committee, the order was established to help diversify tourism in the emirate and boost competition through safe and transparent operations.
New deal with Microsoft values OpenAI at $500 billion
Apple races past $4 trillion market value
Amazon targets as many as 30,000 corporate job cuts, sources say
US flight delays near 7,000 as government shutdown hits Day 27
UAE, African nations chart $6 billion tourism investment roadmap
