Could buying a hotel apartment instead of a residential unit be a better option in Dubai?

05.03.2017

Experts answer the question why hotel apartments are worth buying.

Serviced hotel apartments kind of property is gaining popularity in Dubai. Let’s find out what is their advantage over regular residential units, and for whom such an option is the best fit.

Mario Volpi, Dubai real estate expert with years of experience, believes that hotel apartments in Dubai are the best option for investing in the emirate’s real estate, especially in the run-up to the Expo 2020, when the demand for hospitality units increases exponentially. That’s why, Dubai areas with better connectivity and accessibility and good infrastructure in place, such as Jumeriah Village Circle, located close to the Expo 2020 site, are being transformed into oases of serviced hotel apartment blocks.

Milano by Giovanni Boutique serviced hotel apartments under construction in JVC area is expected to become one of such oases. This 19-storey building is located in the District 17, next to the Hessa Street Entrance 2 making it easy to get to any central Dubai attractions via Sheikh Mohammed Bin Zayed Road or Al Khail Road circling the area.

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“A lot of people buy holiday homes in Dubai, and then their plans change. If an apartment is not used for a long time, it might have some issues such as the chiller system not working, etc. Giving it to Hotel management helps removing such glitches. Therefore, this option is best for receiving dividends in your absence" Mario Volpi said about serviced apartment property kind.

This is exactly what the developer Reign Holdings is planning to offer its customers in Milano by Giovanni Boutique. Investors can choose from 124 apartments varying between regular Executive Suits and Deluxe Suites. All units are high-quality accommodations with all necessary home appliances, while Hotel operator maintains will provide flawless 4-star hotel service to all residents and guests. These apartments is one of the best options for investing in Dubai’s real estate if you’re targeting high-yielding properties, for returns on investments here is one of the highest in Dubai amounting to up to 10 per cent.

Another advantage of this kind of investments in serviced units is saving on your service charges, for apartment owners at the Milano complex are spared from these payments if they give their properties to Hotel management to lease it. Milano by Giovanni Boutique Apartments is now 30 per cent ready and scheduled for completion at June 2018. Until that time, you can pay 50 per cent of the property’s cost leaving the other half to be paid at the end of construction.

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