The Dubai Tourism Authority has issued a new set of guidelines for the holiday homes sector. These will expand on the guidelines already in place for holiday homes in Dubai, which were issued in 2013. The Dubai Department of Tourism and Commerce Marketing is the department behind the new guidelines.
New Guidelines For Holiday Homes in Dubai Have Been Unveiled
Decree 41 was first issued in 2013 and brought together a number of guidelines for holiday homes in Dubai. These will now be expanded upon to include a lot more detail, such as what properties are classed as holiday homes and the licensing requirements. It will also detail the rights of homeowners. It’s hoped that these new guidelines will continue to diversify the tourism sector in Dubai, whilst keeping a fair and frequent amount of competition.
The passing of these new guidelines has been done in response to property developer Emaar. Emaar requested a stop to all short term rentals in its downtown Dubai buildings, something that was denied and the ban was unable to go ahead. Emaar does have its own platform for short term lets and this is still active.
In 2018 and 2019, the number of holiday homes in Dubai almost doubled. The explosion of the market is reflected by a 42% increase in the rental market, according to Gulf Business. It’s thought that the business could continue to grow as large as $8.5 billion by the end of 2020.
A date has not been given for the release of these new holiday home guidelines and the specifics of the guidelines are still unknown.