Dubai holiday home licence requirements set to bolster tourism
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A new law regulating Dubai’s holiday homes market is likely to appreciably benefit two of its foremost industries – tourism and real estate. However, implementing a new programme, encompassing a tier of a new line of accommodations called holiday homes, may face some immediate challenges that need to be overcome when introduced to the market for the first time.
Eli Hyder, managing partner of Bond lawyers said: “Dubai is internationally renowned for setting world class hospitality standards. Introducing a new line of products should help maintain such standards and continue to build on Dubai’s reputation. Consumer rights, safety and relations between homeowners and regulators will be key issues to be addressed at an early stage.”
The impact on tourism is expected to be significant. Dubai has already commenced a drive to increase the range and supply of accommodation available to foreign visitors. A robust regulatory framework governing holiday homes will considerably expand tourist options, enabling foreign visitors to book such properties with complete confidence in the rigorous criteria that govern their quality and management.
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