Corporate Housing a Key Benefit for Employees
Dubai today is at the epicenter of global markets – a city where industries are constantly undergoing disruption and reinvention, attracting the best talent from around the world.
As such, the city has become home to a vast number of globally mobile employees from close to 200 nationalities, working as part of large teams within the continually expanding corporate sector or as part of smaller teams within start-ups. Regardless of their place of employment, housing is an essential factor for attracting and retaining this wide pool of talent.
A report by the World Economic Forum explains that while millennials form the majority of the global working population – more so in the Middle East – they are spending more on housing than any previous generation, and as a result are falling short on spending on their general quality of life.
Additionally, companies are increasingly turning their attention towards employee well-being and happiness as a means to improve output, and consequently the bottom line. The top considerations in this respect are compensation, health insurance and wellness packages, as well as other growth and development activities.
In this context, and despite it being an evolving concept, corporate housing does remain an attractive benefit for and an integral tool to drive employee well-being and happiness and enhancing workplace productivity.
Companies in Dubai have long seen the value of corporate housing to increase employee productivity and morale. On a global level too, Facebook and Google are prime examples of companies investing in corporate housing to keep their employees happier and more committed to their jobs. Both the dot-com giants are investing millions and partnering with institutional housing providers to offer employees a fulfilling lifestyle and in turn transform their attitudes and abilities at work.
In fact, in many cases, companies turn to corporate housing to allow for even more convenience for employees by choosing strategically located homes, with ease of access to main roads, and a simple commute. Besides being closer to work, people tend to be more comfortable in a setting where they can easily access amenities, schools, healthcare providers and other day-to-day essentials, something that communities can easily offer.
Corporate housing is also a valuable add-on for companies looking to offer seamless relocation in a bid to attract international talent. Employers seeking to take advantage of Dubai’s new regulations around longer-term visas for specialised talent, can for example provide high quality housing as part of the hiring package. Whereas, corporates with teams that travel across the region and elsewhere for business can ensure a consistent home base for their executives in Dubai. The upcoming EXPO 2020 will also see an influx of visitors and companies seeking homes for their staff, whereby participants can also benefit short-term rentals options now available in the market.
Over our 13 years’ experience, we have witnessed several local and global corporates seeking to provide their employees with a convenient living experience and more importantly, a community feel during their stay in Dubai.
As such, we have differentiated our portfolio to offer businesses, whether large or small, the best housing solutions for their staff. From built-to-suit accommodation capabilities to staff accommodation and housing within our well-maintained communities, we continue to support companies in offering their staff an enjoyable living experience, with corporate clients accounting for 50% of our portfolio. We also provide our corporate clients and their employees with comprehensive packages that can be customized to include partnerships with service providers, further enhance the convenience aspect of our offerings.
In addition to it being a value driver for companies, the role of corporate housing in incentivizing employees and its contribution to their overall well-being and morale is a key indicator of the potential of this sector in Dubai, a city where the promise of quality housing strengthens its vision of well-being, growth and competitiveness, while resonating with its efforts to become the happiest city in the world.