Nasma set to expand holiday home profile
The executive living and vacation specialist will capitalise on the growing trend for short-term rentals
Nasma Luxury Stays said it is starting 2023 positively, on the back of the rising demand for short-term property rentals in the UAE.
Throughout 2022, Nasma grew its portfolio of luxe real estate across the country, ending the year with its successful expansion to Mina Al Arab in Ras Al-Khaimah (RAK), a milestone in its ongoing bid to strengthen its market foothold.
The portfolio-building is said to take place as more homeowners continue to ride the next wave of growth in the holiday home industry. Nasma noted that it will capitalise on this momentum to meet the demand arising from the influx of tourists to the UAE as a result of its reinvigorated tourism and hospitality sectors.
Dani Tabbara, COO of Al Tamimi Investments (parent of Nasma Luxury Stays) commented, “We are confident that we can exceed our performance in 2022, as we step up our efforts to expand our portfolio through mutually beneficial partnerships with property owners. Additionally, this is an opportunity for us to continue our tradition of offering global and local tourists all the luxuries associated with a five-star hotel within a comfortable, warm home environment. We are happy with our achievements in 2022, but we are even more excited this year given the consistent strong support from the UAE Government and its wise leadership.”
In late November 2022, RAK Properties said it broke ground at its Bay Residences development and, in late December 2022, Luxe Developers launched a luxury development in Ras Al Khaimah.
The holiday home market continues to be a major segment in the local property industry. A recent report showed more than 10,766 active listings in Dubai, which accounted for 2% of the total households in the emirate. The figure was the highest percentage compared to all other global hub cities. Additionally, Abu Dhabi and Dubai ranked third and fourth, respectively, in the top 10 best global places to buy a holiday home in 2021.
Nasma was founded to provide end-to-end property management solutions to luxury owners wanting to rent out their properties to vacationers for a short-term stay. To boost the value of their real estate and their profitability prospects, the company also offers other services such as interior design and property maintenance and damage repair.
Part of its unique value proposition is its attractive profit-sharing model, in which 80% of the profit goes to the property owner to ensure they enjoy better rental yields. This is on top of its 12-month revenue forecast report provided to the owners for a more effective business strategy and higher market value of the properties.
In late December 2022, Dubai Investments also broke ground on its $272m Danah Bay community project on Al Marjan Island in Ras Al Khaimah.
