Saturday 17 August 2019

Dubai Asset Management enters short-term rental market

DUBAI, May 13, 2019

Dubai Asset Management, the owner and manager of one of the city’s largest portfolios of rental residential communities, has announced its foray into the short-term rental market through its partnership with a leading holiday home operator HiGuests.

The Dubai-based startup specialises in managing short-term property rentals with the aim of offering added convenience to guests and hosts alike.

Its self-contained developments include Shorooq, Ghoroob, Al Khail Gate, Layan, Nuzul, Al Quoz accommodation, Rahaba Residences, and rental homes in Remraam and Dubai Wharf.

As the emirate gears up to welcome over 17 million international visitors to Expo 2020 and targets 25 million visitors by 2025, the demand for short-term rentals is on the rise.

On the partnership, CEO Arif Mubarak said: "Dubai Asset Management has established itself as one of the leading companies catering to the rental customer in Dubai. The partnership with HiGuests allows us to enhance our offering through meeting today’s short-term rental customers’ needs - a convenient stay in a contemporary high-quality property."

Dubai Asset Management, a company of Dubai Holding, specialises in developing, acquiring and managing a diverse portfolio of resident-focused communities for rent.

Oriol Plana Masiques, the co-founder and chief happiness officer of HiGuests, said: "We are pleased to partner with Dubai Asset Management to expand our footprint in the city with units that boast all the modern convenience and offer our guests seamless connectivity."

"With the tourism market on a continued upswing, we are confident that this collaboration will support our efforts to provide visitors with comfortable holiday home stays and enhance their experience of living in a busy metropolis," he noted.

Established in 2016, HiGuests manages more than 200 properties in the city in prime locations, such as Dubai Marina, Downtown Dubai, the Palm Jumeirah and the Dubai International Financial Centre (DIFC).

It also handles 40 units in Dubai Wharf, a luxury mixed-use development in Jaddaf Waterfront. The fully furnished, spacious one-, two- and three-bedroom apartments overlooking the historic Dubai Creek are ideal for tourists seeking a convenient stay in close proximity to popular leisure, dining and entertainment spots in the city.

In the first quarter, it had secured 600 bookings for the Dubai Wharf units, with over 2,000 guests staying at the properties, exceeding 70 per cent occupancy.

Visitors from the GCC region, Europe, the US and China have utilised the company’s innovative platform that offers guests the same services they could expect to find in a five-star hotel, it stated.    

HiGuests also operates in other key short-term rental markets, including Barcelona and Mumbai, it added.-TradeArabia News Service


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