Luxurious two-bedroom apartments with breathtaking views of the Burj Khalifa fireworks are in high demand this New Year's Eve in Dubai.
Landlords and real estate agents are capitalizing on the festive spirit, offering nightly rates ranging from Dhs 12,000 to an extravagant Dhs 37,000. Exclusive penthouses listed on platforms like Booking.com are reaching astonishing prices of Dh70,000 to Dh80,000 for a single night.
For those looking to secure a prime location to ring in the new year, even premium apartments on other platforms such as Airbnb and Dubizzle are seeing substantial interest, with many properties already fully booked.
Vinayak Mahtani, CEO of bnbme holiday homes, shared insights into the soaring demand, stating that their Downtown properties are fetching 20-30% higher rates compared to the previous year. A four-bedroom penthouse, spanning 4,500 sq ft, is available for Dh37,000 for the night of December 31st, providing an unobstructed view of the fireworks. This exclusive deal comes with a minimum three-night stay and includes the services of a housekeeper and a chef for breakfast.
Booking early proves to be a cost-effective strategy for residents, offering an economical alternative to expensive table reservations at hotels and restaurants in bustling party areas.
Despite the hefty price tags, apartments around Downtown Dubai are completely booked out, according to Mostafa Hammad, Head of Leads Management at Drehomes Real Estate. He revealed that challenges in securing available spaces have led to a surge in costs, with some apartments commanding as much as Dh160,000 per month. Daily rentals are also on the rise, exceeding Dh12,000 or Dh12,500, and this trend is expected to intensify as New Year's Eve approaches.
Experts emphasize that these sought-after properties range from cozy 450 sq ft studios to expansive 8,000 sq ft penthouses. Amenities include high-speed internet, utility connections, flexible check-in and check-out times, and premium access to New Year's fireworks displays and Burj Khalifa shows. The demand for additional services, such as butler services and airport transfers, is also on the rise.
Aneela Bibi, Head of Short-Term Leasing at Chestertons MENA, highlighted the considerable spike in rental prices for New Year's Eve. For instance, a three-bedroom apartment in Downtown Dubai that typically rents for Dh1,600 to Dh2,500 per night might command between Dh6,000 and Dh8,500 on December 31st. She also noted a 37% increase in available property listings over the last three years, indicating the growing popularity of securing premium accommodations for festive celebrations.
Source: Khaleej Times
