Turn Key or Not Turn Key? Hotel Apartments Proving Popular

27/03/2011 - Dubai Property News
Turn Key or Not Turn Key? Hotel Apartments Proving Popular

The demand for full service apartment living is up by 2%, according to figures released by the Dubai Department of Tourism and Commerce Marketing. The rise comes despite an increase in capacity of 15%, with more choice flooding onto the market. Serviced accommodation is not only proving a popular choice for leisure and business travelers, but also working expatriates who are new to Dubai, and looking for hassle free, convenient living on a short to mid-term basis.

Affordability, convenience and luxury are cited as the biggest reasons people opt for the full serviced option over that of an unfurnished apartment, according to a recent report in Dubai’s Gulf News.

"If you are planning on being in Dubai for a short time and not planning to settle, then I think this is a great option and there is so much on offer now,” commented one reader, Robyn Nagent from South Africa. “When you add up how much you pay to set up home in Dubai, it definitely makes economic sense.”
According to Parag Parekh, portfolio manager at Better Homes Short-Term Rentals, serviced apartments in the ‘New Dubai’ area, including the Greens, Tecom, Jumeriah Lake Towers and Dubai Marina, are some of the top choices, thanks to their affordability and location.

"It's more convenient and economical to live in furnished/serviced accommodation for a number of reasons,” commented Parekh. “You don't have to worry about the management and payment of internet, Dewa or district cooling charges, nor do you have to worry about the cost and hassle of furnishing your home. In addition, the cleaning and laundry are efficiently handled by the housekeeping.”

The First Group has a number of offerings within this growing market. In Dubai Sports City, The Diamond Hotel Apartments is already achieving full capacity, while in the Tecom area, three new projects are nearing completion; Metro Central, Grand Central and First Central.