Sultan bin Ali Al-Owais Real Estate, a UAE-based real estate and asset management company, has announced the establishment of a short-term rental division to cater to the anticipated demand during the Dubai Expo 2020.
The new division is being launched with 250 short-term rental units and all properties are located within accessibility and proximity to the Expo 2020 site.
“Coming from a heritage of real estate development where we build for the purpose of renting out, our principal audience is predominantly made up of expats looking for long-term rentals. However, with the expected influx of people coming into the UAE based on the country’s economic and leisure offerings, this number will only go higher considering the Expo 2020,” said Haleema Al-Owais, director of Sultan bin Ali Al-Owais Real Estate.
“Every market and metropolis has an appetite for different kinds and classes of projects, and if the mix of developments between luxury/high-end, mid-market and affordable housing is in sync with the population it is designed to cater, the UAE demand will always have the potential to match its supply if not exceed it,” she added.
“We have been in the process of developing and acquiring assets with the vision of short-term rentals for the past two years and are confident about the company’s new direction.”
The company that specifically develops properties to rent, and owns and manages a portfolio of over 2,000 properties across the UAE, is known for its emphasis on its long-term rental ethos and retention of residential tenants exceeding 20 years.