UAE-based Azizi Developments has launched sales of Bayt by Azizi in Dubai Sports City, a new short-term rental home concept through which investors can yield higher returns by having their owned apartments managed and serviced for them.
Azizi Developments said it will provide registration, licensing and hotel-quality service while also administering all interior design and marketing functions.
It added in a statement that the service "effectively relieves customers of the hassle associated with short-term letting".
While investors can still choose to live in their properties, rent them out for the long-term, or sell them, the short-term letting process ensures a substantially higher ROI of more than 35 percent, the developer said.
Owners also have the option to reside in their apartments as they please, while letting Azizi Developments rent them out in the interim.
Farhad Azizi, CEO of Azizi Developments, said: “This outstanding new concept is our response to a growing market need for short-term housing and complements the tourism development strategy of Dubai. We plan to extend this model to several of our residential buildings in the city, in line with our commitment to create sustained value for our customers.”
Bayt by Azizi in Dubai Sports City features 431 apartments that comprise 238 studios, 140 one-bedroom and 53 two-bedroom apartments.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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