Dubai, United Arab Emirates: Airbnb management company Frank Porter has reported positive market growth for 2023 and announced expansion plans across the emirates for 2024.

In 2023, Frank Porter grew its portfolio to 700+ properties in Dubai and dipped its toes into the Abu Dhabi market with 10+ properties coming on board. As the company looks forward to 2024, it is seeking to accelerate its growth in the capital and to expand into other emirates including Ras Al Khaimah, while continuing to focus on taking a healthy share of the Dubai market.

Since the pandemic, short-term rentals have gained popularity with tourists, business travellers and residents looking for flexible accommodation options. Expo 2020, the FIFA World Cup and COP28 have all been major contributing factors to the explosion of the market, as well as the fact that Dubai’s population has soared, surpassing 3.6 million people in June 2023 according to the Dubai Statistics Centre.

Tourism is one area of the economy that has continued to grow and shows no signs of slowing down any time soon. The first few months of 2023 were the busiest of the year with Dubai Tourism recording 4.67 million international overnight visitors in the first quarter of 2023, compared to 3.97 million tourists during the same period in 2022.

With the increased demand for short-term rentals, the number of companies managing such properties has also grown but Frank Porter, which was founded in 2017, has the benefit of experience in an ever-changing market. With a 24/7 support centre, cleaning and maintenance services, interior design services and a photography and writing team on hand to help owners maximise their listings, plus a dedicated owner app, the company has become a one-stop shop for short let management in Dubai.

According to Frank Porter, the five most profitable areas to have an Airbnb in Dubai in 2023 were: Palm Jumeirah, Downtown, Marina/JBR, City Walk and DIFC.

Anna Skigin, Founder and CEO of Frank Porter, said: “The short-term rental market in Dubai grew very well last year with up to 25,000 active listings in Dubai. This year, we expect things to slow down slightly in the market, but we are focused on taking a larger market share overall and expanding our operations into Abu Dhabi and Ras Al Khaimah. We are also currently undergoing a transformation in our technology and our operations, bringing everything in house with an expert team onboard to accelerate our growth.”

Other highlights for the company in 2023 included a huge marketing push which saw the company use billboards on Sheikh Zayed Road to drive brand awareness.

Another successful year for the real estate market, also benefitted Frank Porter last year with new landlords entering the market and purchasing properties to short-term let from the get-go.

When asked about areas and neighbourhoods to watch in 2024, Anna Skigin said:

“There is a lot of development happening in Barsha South, Meydan and Dubai Creek - amongst other places. These are very interesting areas to invest in in 2024 in terms of the short-term rentals market.”

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About Frank Porter

If you’re looking to get your property earning money, Frank Porter have you covered. Offering world-class property management services, from the initial styling and photography to ensuring your guests sleep on fresh hotel quality sheets – they take care of all the leg work! Frank Porter evaluates your home and runs a pricing algorithm to show you your possible revenue and then takes care of everything from there. Initially created to fill a gap in the market for quality property management, there is no other option when looking to get your property earning income.