Dubai Asset Management has announced a foray into the short-term rental market.
The owner and manager of one of the largest portfolios of rental residential communities in the United Arab Emirates, the company will launch the new venture through its partnership with a leading holiday home operator HiGuests.
The Dubai-based start-up 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, Dubai Asset Management chief executive, 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.
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.