DAMAC Hotels and Resorts, the hospitality arm of DAMAC Properties, revealed the growing popularity of its hotel residences with rental pool
offerings, citing attractive returns and hassle-free ownership.
programmes, embraced in major global business hubs due to their efficient use of hospitality spaces, are a notable trend in the GCC," remarked Jean Faivre, the senior VP for Hospitality at Damac.
The facility also offers lap swimming, water fitness classes, youth swim teams, special needs swimming and private rental pool
Buyers in the UAE have for several years favoured serviced apartments -- a property type offering purchasers a turnkey solution, with full fit-out and furnishing often included in the sale price and a regular return via a rental pool
. As such, owners don't need to worry about directly managing the property and arranging tenants as someone else is doing this for them.
Capital investments will be primarily focused on technology infrastructure to drive operational excellence and organic growth opportunities within both operating segments, and for rental pool
"This shift from rental to ownership is also shrinking the rental pool
, leading to further downward pressure on rentals."
The majority of the branded residences projects operate on a rental pool
agreement format, under which units are sold to investors with a lease back option to the rental pool
agreement for a period of time.
We have a rental pool
there and we use that as an opportunity for speaking to people about investing.
Ashtead Technology, a global leader in marine technology and subsea services has expanded its equipment rental pool
following a significant investment in a state-of-the-art subsea navigation system which has been proven to deliver faster, more accurate results in the toughest environments.
That's partly because changing home-buying behavior has kept higher earners in the rental pool
longer, Willett said.