Mohammed bin Rashid Issues Decree to Regulate Dubai’s Holiday Homes Market

The Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has issued Decree No. 41 of 2013, concerning the regulation of the holiday homes market in the Emirate of Dubai.

With the objective of contributing to the growth of the tourism industry by broadening the range of accommodations available to visitors, the decree dictates that Dubai’s Department of Tourism and Commerce Marketing (DTCM) will be responsible for the granting of licenses to those parties who intend to rent out a furnished residential property on a daily, weekly or monthly basis, said In his capacity as the Ruler of Dubai, said The Government of Dubai Media Office said.

The decree dictates that DTCM will define the standards that must be met and procedures that must be followed in order to receive a license; accept license applications and approve or deny such applications; conduct inspections on the properties to ensure they meet the required standards; and create a database of all such licensed establishments in the Emirate. Restrictions will be placed regarding in which areas of the Emirate licenses will be granted and two new classification standards will be added to the existing Hotel Classification framework, with ?Holiday Homes’ being classified as either ?Standard’ or ?Deluxe’.

Helal Saeed Almarri, Director General of DTCM, commented, “The regulation of the renting of properties as holiday homes will have a considerable positive impact on two of Dubai’s key industries – tourism and real estate.

via WAM.