Sharjah’s new ‘Holiday Homes Project’ set to diversify economic growth
New initiative aims to drive more visitors from around the world to the emirate and offer fully-regulated holiday accommodation
Sharjah Commerce and Tourism Development Authority (SCTDA) has announced a new regulatory framework – Sharjah Tourism’s ‘Holiday Homes Project’. This will offer an official framework of facilitation and control to Sharjah residents wishing to rent out their accommodation as holiday homes to tourists and visitors.
According to the terms and standards approved by SCTDA, the residential units can be rented out annually, in rotation. The idea of the project is to successfully develop an official facilitation framework in line with international best practices for the operation of holiday homes; these homes will then be registered under a unified umbrella and database.
In June 2022, Big Project ME met with Diamond Developers to discuss progress at Sharjah Sustainable City and the impact the sustainable lifestyle development will have on the real estate sector.
The project will also empower prospective users with a new source of income recognised by the Government of Sharjah, offering them official guidance on operating requirements, classification criteria, violations and other mechanisms, the SCTDA said.
In July, Sharjah’s Alef Group launched the $435mn Al Mamsha Raseel project.
Khalid Jasim Al Midfa, Chairman of SCTDA commented, “With Sharjah Tourism’s Holiday Homes project, the emirate’s aspirations to continue advancing this sector has crossed a meaningful milestone, as the initiative not only introduces an innovative new service to the tourism landscape but also puts Sharjah’s home owners at the forefront of benefiting from a drive that is poised to drive more visitors from around the world to the emirate.”
According to estimates there are currently over 300 holiday homes in Sharjah. The first year of the project will see the registration and licensing of 150 holiday homes. About 15 operating companies will be involved in the process, and the holiday homeowners will be given three months to complete the documentation process. The first phase of the project includes organising field visits and inspection campaigns, as well as electronic or digital follow-up of holiday homes, their operators, and owners.
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