UAE: Azizi Developments, one of the leading private developers in the UAE, has launched a short-term rental home concept, entitled “Bayt by Azizi” in Dubai Sports City.
The home concept is designed to help investors gain higher returns by having their owned apartments managed and serviced for them.
The residential property, which features 431 apartments comprising 238 studios, 140 one- and 53 two-bedroom apartments, is tailored to suit the needs of those who pursue a balanced and healthy lifestyle.
According to the Emirati developer, Bayt places the wellness of its residents as its principal consideration as it seeks to enhance the quality of life with its spacious balconies and corner units with large terraces of over 1,076 sq ft.
Bayt by Azizi says its lifts offer panoramic views of the neighbourhood and a specially-dedicated plantation area on the facade allows residents to grow gardens.
As agreed within the deal, Azizi Developments will provide registration, licensing and a hotel-quality service while also undertaking all interior design and marketing functions, which effectively takes away some of the hassle from customers that can be associated with short-term letting.
Bayt said that 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 per cent.
Owners also have the option to reside in their apartments when they please, while letting Azizi Developments rent them out in interim periods, which results in more flexibility and maximum occupancy.
CEO Farhad Azizi 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.”
Located centrally along the growth corridor of Dubai, the Bayt by Azizi development is in close proximity to luxury shopping, leisure and sporting options.
Set in Dubai Sports City on both Al Khail Road and Sheikh Mohammed bin Zayed Road, Bayt by Azizi facilitates a route into the rest of Dubai for its customers.
In addition, it is close to Dubai South, the Expo 2020 site, Al Maktoum International Airport, Mall of Emirates, JBR and Dubai Marina, among other major points of interest.
Azizi added: “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.”
For more information, visit the Bayt by Azizi website here.