TOP STORY SAS EU 2019: Andrew Harrington of AHV Associates Andrew Harrington of AHV Associates talks to SAN's George Sell about the investment landscape for the serviced apartment and extended stay sector. Filmed at the 2019 Serviced Apartment Summit in London. LATEST NEWS FEATURES VIDEOS Editor's comment
09-07-2019
• As we gear up for our next event, Serviced Apartment Summit MEA, there are some interesting developments afoot in the Gulf region.
Dubai’s introduction of partial title deeds potentially opens the door for a new wave of investment in to the serviced apartment and branded residence market. Under the new rules, groups of individuals can pool their investment to buy properties and crucially, an individual investor will then be able to sell his or her share independently of the other investors.
Previously such an investor would have had to pay a four per cent transfer fee on the entire value of the property. Now, under the partial deed structure, the transfer fee would only be levied on the fraction of the property being sold.
As the 2020 Expo gets ever closer, the partial deed option will enable developers to market some of the stock built specifically in time for the event to a much broader potential audience. This will be welcomed in a market which has seen an extremely significant growth in supply over the last five years.
Serviced Apartment Summit MEA takes place at Rove Dubai Marina on September 16. Click here to find out more and buy tickets.
George Sell, editor Katie Houghton
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