Skift Travel News Blog

Building on initiatives that had mixed results in the past, Airbnb is debuting an Airbnb-Friendly Apartments program to enable long-term renters in multifamily buildings where landlords permit it to list their rooms or apartments on Airbnb.

For both guests and hosts, one of the things the program aims to do is avoid the all-too-frequent situation where guests have to pretend they are part of the host’s visiting family or a close friend because the building doesn’t allow Airbnb rentals.

The newest incarnation of the program enables long-term renters to browse for multifamily buildings that allow Airbnb short-term rentals, get in touch with the management of the building, and, like other first-time hosts, get access to experienced hosts to help with starting out on Airbnb and listing their apartments.

“Renters interested in hosting a spare room, or their entire apartment when they’re out of town, can browse more than 175 Airbnb-friendly apartment buildings, subject to availability, in 25+ markets across the U.S., including Houston, Phoenix, and Jacksonville,” Airbnb stated as part of the announcement.

The company added that renters participating in this multifamily building program over three months hosted an average of nine nights per month and earned an average of $900 net of Airbnb and landlord fees.

Airbnb has had issues with some of these sorts of arrangements in the past. Several years ago, for example, Airbnb enabled a Miami-area developer, Niido, to use the Airbnb brand and enable tenants to host short-term rental guests, but other tenants felt blindsided by the arrangement, and Airbnb eventually sued the developer.

Dubai-based property developer Nakheel announced it has secured $4.6 billion in strategic financing deal to drive what it calls, “the new phase of growth.”

The amount includes refinancing of $3 billion, and additional funds of $1.6 billion.

The developer of Palm Jumeirah said that the finance would be utilised to accelerate the development of its new projects including Dubai Islands and other large waterfront projects.

Looking to redefine the concept of waterfront living, Nakheel announced its plan to develop another man-made island — Dubai Islands — situated along the emirate’s northern coastline, comprising five islands over a total area of 17 square kilometres.

The property developer said Dubai Islands would be home to over 80 resorts and hotels, including luxury and wellness resorts, boutique, family and eco-conscious hotels.

This year, Nakheel announced that it would also relaunch and rebrand Palm Jebel Ali, a project that has been left dormant since 2009.

Recently, one of the mansions at the Palm Jumeirah sold for $82 million, pegging it to be the most expensive house sale ever in Dubai.

The $4.6 billion financing reflects the confidence of the banking institutions in the strategic new focus of the company, a Nakheel spokesperson said.

Despite the challenges of the pandemic, Nakheel said that it has invested in building a strong assets portfolio and pipeline of new developments in the last two years.

The company attributed the robust growth of the Dubai real estate sector to regulatory reforms, such as the issuance of long-term visas, and an economy buoyed by the retail, leisure and hospitality sectors.

Sonder said it plans to expand in Dubai later this year with the opening of a 401-unit property, Business Bay.

Unlike some Sonder properties where customer service is solely via text messages, this 35-story building, operated by Sonder and developed by SAAS Properties, has a front desk in the lobby, a swimming pool, gym, and food and beverage facility.

Business Bay, a serviced apartment, would be Sonder’s third location in Dubai, the company said.

Sonder is marketing the property as being appropriate for both business and leisure travelers. It is located in the vicinity of the Dubai Mall and Burj Khalifa.