Specialist Marketing Agency To Focus On New Regulations Allowing For Fractional Ownership In The Emirate As Economic Recovery Gets Underway
Boutique sales and marketing agency, Twenty Six Six, have announced the launch of their operations in the Emirate to target fractional ownership in the region.
In 2020 the Dubai Land Department allowed property owners to sell off hotel rooms and hotel apartments under a fractional title deed, to allow new revenue streams for trouble-hit properties.
Experts in the fractional ownership model, the team at Twenty Six Six see this as a chance to assist the property and hospitality sector whilst increasing revenues and profitability.
“We see this as a really attractive opportunity for property investors as well as hotel owners to diversify revenue streams and maximise profitability of the asset” said Perry Newton, the company’s Co-Founder and Director, who has over 25 years’ experience in the luxury travel and fractional ownership industry.
“Even though this has seen legal reform taken during the pandemic, this is an area we are very well informed of and see this as a lasting positive change with benefits for both sides.”
Jon Grafton, Co-Founder and Director at Twenty Six Six, agrees, and says that for the company, it is a great gap in the market to place their expertise. “Dubai is a very attractive place to invest and with the positive outlook so far, we think this will be a hugely popular move for the city and the tourism sector in particular.”
The fractional title deed allows for the division of the same unit into two or four fractional shares, with each having its own title deed that can legally be sold, mortgaged, or transferred like any other property.
“For hotel groups around the world, holiday ownership is a huge driver of growth and revenue,” said Newton. “There is no reason the same model can’t be done here now and push the industry into the next level of recovery, offering investors a great return on investment too.”
Specialising in leisure and hospitality, the team at Twenty Six Six have a long history of working with fractional ownership, having already opened up markets in the USA and Morocco before moving into Dubai.
The team whose ‘no nonsense’ ethos won them contracts globally, became sales and marketing partners with exclusive boutique, property businesses on the Amalfi coast quickly expanding to Puglia, the Italian lakes, Tuscany, Portugal and a Riad in Marrakech.
Under the Italian project, the team successfully negotiated the first golden visa investment fractional product between the client and the Italian government.
They have also worked on the luxury Masseria farmhouse estates which sold out pre-construction from an incredible design brief, solving the owner’s cash flow issues whilst supporting the Twenty Six Six core values of maximising profitability of the asset.
“However big or small the investor is, this is absolutely affordable for many levels,” said Newton. “It is easy to do, can be in anyone’s name and with our experience internationally, we can make things even smoother for people on both sides. It’s a very positive move for the emirate and will no doubt aid in the recovery needed during these challenging times.”