Dubai Legitimizes Vacation Rentals to Accommodate Booming Tourism Industry
Photo Credit: A view of the beach in Dubai from a balcony in The Palm Atlantis. Flickr / Sarah Ackerman
Skift Take
Dubai has the opportunity to become an example of how cities can gain control of their currently unregulated rental markets while strengthening their tourism offerings.
Dubai's tourist accommodation sector is set to get a welcome injection of property with a move to license holiday homes.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued a decree to help develop the tourism industry by increasing the range of accommodation available to visitors -- with the sector currently bursting at the seams. There are currently 100 per cent occupancy rates at hotels during the peak season.
The decree states Dubai's Department of Tourism and Commerce Marketing (DTCM) will have the authority to grant licenses to those wishing to rent out furnished residential properties on a daily, weekly or monthly basis, according to the Dubai Media Office.
The DTCM will define the requisite stand
