Dubai: Landlords in Dubai are using short-term rentals to their advantage. To make full use of increasing demand ahead of the Expo. and prepare themselves for Dubai’s upcoming law on a three-year rent freeze on new leases.
“Offering their properties as short-term lets rather than one-year leases, landlords will have better control of what they need to do next once the Rental Law comes into effect,” said Dr. Ahmed Samerai, founder of Al Bahar Downtown Apartments, which operates in the short-term letting/holiday homes space in the Downtown Dubai area.
“Landlords don’t want to be caught in a new contract when the Law comes in – especially when the property market is picking up and more people are thinking rents too are likely to go up. At least in the luxury space.”
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Dubai: Insurers selling the Dh550 a year Dubai Health Authority mandated ‘basic’ health cover plan in Dubai have been told not to pad up these policies with additional benefits. And if they still want to offer ‘enhanced cover’, they can only sell these policies at a minimum premium of Dh750 a year.
“The DHA (Dubai Health Authority) mandated that the minimum premium on any DHA-approved enhanced cover should not be less that Dh750 – and that’s excluding ‘Basmah’ and VAT,” said M. Rajendran, Managing Director at Al Futtaim Willis, the insurance brokerage and consultancy. (The ‘Basmah’ is an additional sum insurers selling approved basic insurance plans set aside if any of the insured need cancer treatment. The compulsory Basmah contributions are made on each such policy sold.)
Dubai: The minimum premium rate to buy a ‘basic’ health insurance plan in Dubai could in for an increase from Dh550, according to senior sources in the local insurance and healthcare sectors. If so, this could be the first major premium increase in regulator-approved basic plans since their launch in 2014.
“From insurers’ point of view this is much needed to stop insurers “subsidizing” this basic product,” said Mustafa Vazayil, Managing Director of Gargash Insurance, one of the top brokerage firms in the UAE. “As and when the premium on the basic plan goes up, the expectations are that on higher benefit plans, annual premiums could witness some reductions.”
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