Unlike other cities where the framework is simply not yet there, the UAE is at the forefront of short-term property rental thanks to changes in regulation, licensing requirements and home standards.
And while the property management company that first springs to mind is probably Airbnb, Kennedy Towers, an expanding prop-tech business headquartered in Dubai is proving there’s room for one more and a local rival is no bad thing.
Its founder Simon Kennedy sat with the Dubai Works business podcast to talk about emerging trends (*13.08), the secret sauce to business success, (*6.50) why Dubai is the choice place for growth and expansion and why this service is perfect for anyone travelling to Dubai on a budget (*14.50).
Forget peaks and troughs: An entrepreneurial eco-system is the reward for the evolving Dubai real-estate market and marks a positive sign for future growth
Dubai’s real estate market is prepped for the mid-market tourists who are flocking to Dubai
Whether it’s tourists travelling on a budget, or looking for a five-star equivalent (without the hefty price-tag), renting short-term properties is the economical alternative.
This dummy search shows the price for a four-person family looking for a Palm Jumeirah va-cay this summer (five nights) via Kennedy Towers
Previously, Dubai was catered to big-budget travellers, however it’s now focused on budget-conscious tourists, a market trend Kennedy Towers can benefit from
‘A Dubai born company who can tackle the big boys on their home turf’
Kennedy noted that now is the time entrepreneurs can grow in the industry, as competitors from London and the US are drawn to Dubai, Kennedy Towers maintains the city is the optimum place for a HQ as they eye international growth.