Short-term rental services in Dubai; falling vacancy level- Challenges and Opportunities.
L ife in Dubai is back on track. The local government is making all efforts to bring back the crowd to this beautiful city. Those efforts are reaping benefits; footfall in the shopping mall increased, and registration of new business has increased. Additionally, DLD (Dubai Land Department) has revealed real estate transactions have shown tremendous growth; single-day transaction has peaked at AED 400+million. T he demand for short-term rental services also increased. To match the increasing demand, all those involved in the real estate industry are trying hard to cater to their clients. The role of small-time players, where the demand of short-term visitors is met with the supply of partitioned bed spaces, rooms to find a job, a supplier, or a business partner not be neglected. Though the legal framework around this section is strict, there are many investors lured by the 'cash on cash' benefits offered by this segment. W e all are well educated about the location benefits o