Dubai's Weekly News Snapshot: The Ampersand 02-06-2023

Can data transparency in the market switch up the game for buyers and sellers?

On this week’s episode of Taking Care of Business, Operations Director: Paul Kelly and Managing Director: Marc Walters sit to discuss all things sold-comparable data insights, how real-time data on the market is changing the game, what’s Dubai’s newest initiative for short-term rentals and why UK investors should consider coming to Dubai!

Tune in to hear all this and more on Taking Care of Business, every Friday!

News that caught our attention this week

How is Dubai’s new initiative helping to improve short-term rentals?

Dubai’s Department of Economy and Tourism (DET) has launched a new QR Code initiative for Holiday Homes in Dubai. With this initiative, owners of holiday homes will now be displaying a QR code on the main entrances of their vacation properties in Dubai for visitors to verify and scan.

This move aims to improve transparency and increase confidence among investors and visitors in the short-term rental market - also helps them feel safe within the property.

To read more about the QR code initiative - click here

Sheikh Mohammed announces Palm Jebel Ali’s masterplan!

While we do love our iconic Palm Jumeirah, the plans for Palm Jebel Ali have been virtually approved!

This development will be twice the size of our regular Palm Jumeirah development, and it would feature over 80 hotels, more beach clubs, restaurants, retail outlets and malls - all on a 110km shoreline strip by the pristine blue waters!

Incredible right?

Dubai scraps the 10-day grace period for visit-visas

Got your family or visitors coming into town?

You might want to know that previously when Dubai allowed a grace period of 10 days upon visit-visas expiring - it has now been scrapped and as soon as visit-visas expire, you’ll be fined AED 50 per day for overstaying.

This was announced by the Federal Authority of Identity, Citizenship, Customs and Port Security on Wednesday and came into immediate effect. Tourists who stay without renewing their visas will be arrested for staying in the country illegally. Inspection campaigns will be carried out to catch the offenders.

Company Updates

What does Paul Kelly have to say about Dubai’s new beach expansion plans?

In case you missed it - Dubai has announced the development of five new beaches by 2040, and here’s what our Operations Director; Paul Kelly, has to say to The National News about how this development will impact the real estate sector.

“These areas will definitely see an increase in popularity in construction and real estate in the same locations. Everyone loves to be by the water and the most popular communities are indeed by the water in Dubai. Once people’s quality of life is enhanced, that being by the easy access to the beach or by the popularity the area will have and therefore attracting restaurants, gyms and other business that would compose a community will automatically attract residents to invest, rent and buy in such areas.” Said Paul Kelly.

Interested to read more - Click here!

Sheena Arila shares her thoughts on how Dubai’s new initiative is set to improve short-term rentals!

This week, Dubai announced a new QR code intuitive for holiday homes to increase transparency and safety for tourists, and our Operations Manager for holiday homes; Sheena Arila, talks to Arabian Business on how this initiative is going to switch up the game for short-term rentals in Dubai.

Take a read here!

Alexander Lea spoke at the Property Technology Festival, this Wednesday.

Our Head of Digital Media; Alexander Lea attended the Property Technology Festival on Wednesday as a speaker and spoke about increasing sales and leasing – the new data and technology norms.

He discussed how brokers and agencies are increasing agent speed, efficiency, quality and pricing by breaking down lead silos, developing end-to-end data management platforms and integrating AI, API, metaverse and gamification solutions.

Impressive, right?

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