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Dubai-based global property developer Emaar announced on Wednesday that it has launched a new business - Ease by Emaar - that provides global travellers stays in homes handpicked by the developer within its integrated communities while offering high return on investment to the home owners.
The short-term rental concept is being first rolled out in Dubai with South Beach, situated in Emaar Beachfront, becoming the first residential development to be listed on Ease by Emaar.
“This concept will bring the whole community of Emaar under the service of customers. Guests will have access to 73 gyms, 172 swimming pools, 31 kids clubs, play area for children in 172 locations, 12 spas and as many indoor sports facilities as well as six business centres,” said founder and chairman of Emaar Properties Mohamed Alabbar at a press conference in Dubai on Wednesday.
Emaar said in a statement that ‘Ease by Emaar’ will provide property management services for the holiday homes, including property setup, reservations management, guest hosting, housekeeping, maintenance, government licensing, and distribution of the listing across Airbnb, Booking.com, Expedia, Agoda, and over 50 other channels.
Emaar/Handout via Zawya
For guests and visitors, the company will provide hotel-grade housekeeping and amenities, and a digital mobile concierge, ensuring guests get all the information needed to experience Dubai.
Other amenities offered to guests, according to the statement, include unlimited Wi-Fi, a welcome pack, and on-demand Google Smart Home devices such as Chromecasts for streaming entertainment channels; an ‘Ease Pass,’ which provides offers and deals to the city’s major attractions; U by Emaar special upgrades, discounts on Emaar hospitality restaurants, and deals to Emaar entertainment attractions such as At The Top, Burj Khalifa and Reel Cinemas, among others.
Alabbar said Ease will clearly focus on the short-stay hospitality business which will work with other businesses such as AirBnB and Booking.com.
"The short term rental market is constantly changing. It will become a big business globally. Listings in London, Los Angeles and Paris for short stay is huge business. We at Ease is at just the beginning of that business," Alabbar said.
So what is on offer for investors having a unit in Ease?
“Investors can earn up to 50 percent of the returns, but again it depends on the location, the view and other aspects that would make the property appealing to travelers. There will be a 20 percent fee for management services,” Patrick Sheldon Wee, Manager, Strategy x Innovation at Emaar said.
For investors, the statement noted, “innovative technological infrastructure will offer the opportunity to fill the market gap for short-term rentals and helps them capitalise on an emerging business model, helping them earn substantial returns.”
(Reporting by Seban Scaria; Editing by Anoop Menon)
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