The best of both worlds

The GCC region – and particularly Dubai – is experiencing a huge surge of hotel and apartment development, and there is some nervousness over whether demand can keep up with supply. There’s no doubt that Dubai has done an amazing job in stimulating demand and transforming itself in to a premier business and leisure destination, but the sheer number of projects underway would suggest that occupancy kevels are due to suffer at some point.

This is one of the reasons that serviced apartments are the subject of such interest in the region now – they are not reliant on solely on the short stay guest, but are also very popular with contract workers and ex-pats who typically rent a serviced apartment for three to six months before finding permanent accommodation.

Another interesting point to be raised at the conference, revealed in Filippo Sona of Colliers’ presentation, was the superior performance of branded units – in an area that loves its brands as much as Dubai this should perhaps not be a huge surprise – but it was certainly food for thought for the investors and developers in the audience. I look forward to seeing the MEA sector flourish – see you at SASMEA 2016!