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UAE: Residents can soon rent out homes they own to tourists, visitors
First phase of project to license 150 residential units to do so
Authorities in Sharjah have launched a regulatory framework for the emirate's 'Holiday Homes Project'.
The project aims to offer an official framework of facilitation and control to Sharjah residents who wish to rent out places they own as holiday homes to tourists and visitors.
According to the terms and standards approved by Sharjah Commerce and Tourism Development Authority (SCTDA), the residential units can be rented out on a rotational basis, regularly.
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.
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.
Khalid Jasim Al Midfa, Chairman of SCTDA, said: "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 homeowners at the forefront of benefiting from a drive that is poised to drive more visitors from around the world to the emirate."
"Through the Sharjah Tourism's Holiday Homes Project, we seek to maximise visitor experience by ensuring high-quality classification standards and offering additional staycation options across the emirate of Sharjah. It will further strengthen cooperation between the Authority and the providers of holiday homes by developing a system of legislation and regulations. This will contribute to diversifying the sources of growth for the hospitality sector."
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The Authority is also working on strengthening cooperation and coordination with several government agencies in Sharjah to develop regulatory procedures for holiday homes.
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