Hive opens its door in Dubai, no penalty on moving out early

A recent co-living space has been built in Dubai, giving people on yearly rental contracts the freedom to move out as per their own will without incurring huge penalties.

A recent co-living space has been built in Dubai, giving people on yearly rental contracts the freedom to move out as per their own will without incurring huge penalties.

In Jumeirah Village Circle, Hive launched itself in late January and is equipped with almost 175 rooms, from studio rooms to four-bedroom apartments.

Advertisement

The modern apartment block was fully occupied within a week of its opening.

The founder of Hive, Bass Ackermann, stated, “When I first arrived to Dubai in 2012, I was surprised by how outdated the process was to rent a place. Apartments were left unrestricted for you to view, and you would pay in cheques.”

“Hive is the first and only real residential community in Dubai that operates on the ethos of being more collaborative and connected.”

He further said that Hive is a plug and play concept, which means apartments are fully furnished, and residents pay their rent monthly via our dedicated mobile app, including all the bills.

A person who wants to rent an apartment at Hive, developed by ARM Holding, needs an Emirates ID, and a contract will be signed every year, but they can choose to leave the apartment whenever they want, giving notice prior to 30 days.

The norms of the industry are for a landlord to repay when a tenant needs to cancel the contract before its end. The penalty is usually of one and two months’ rent. To get an apartment at Hive, tenants have to pay two months of rent to move in, one of which is a refundable security deposit.

Advertisement

The size of the apartment and prices vary depending on furniture, size, rooms, etc., studio spaces starting from Dh5500 per month, one-bedroom units at Dh6,500 per month, and three to four-bedroom units starting from Dh4,500 each month per person.

A group of people can share bigger apartments, but everyone has to sign a contract.

Tariq Saeed

Read More

Dubai: Jafza held a groundbreaking ceremony at new logistics park

Jebel Ali Free Zone (Jafza), which is the DP World's leading trade and logistics hub, organised a groundbreaking ceremony for the first phase of its recent "Jafza Logistics Park" and is planned to be completed by 2023.

Rescue operations continue in Oman for people who went missing due to floods

Rescue authorities in Oman persist in their search on Sunday, July 10, for people who went missing after days of heavy rainfall causing floods.

Egypt records 2,117 fresh COVID cases with 56 deaths

Cairo, Egypt: The middle east country has recorded a total of 2,117 new infections of the contagious COVID-19 virus on Tuesday, February 15, 2022....

Recent

Abu Dhabi: IIFA 2022’s first night turned out to be a night full of glamour, smiles

IIFA (International Indian Film Academy) 2022 is back again with a bang after a long break due to the COVID-19 pandemic. This year, the award show is taking place on Yas Island in Abu Dhabi, United Arab Emirates. The much-awaited award show started with a star-studded evening of music, entertainment and fashion.

Tenants got evicted from villa community in Dubai for illicit pet trading

Several reports of animal abuse and illegal puppy sales in Damac Hills 2 in UAE have resulted in tenants being evicted as officials crack down on illicit pet traders.

PM Drew shares details of Development Bank crisis

Dr Terrance Drew, the Prime Minister of St. Kitts and Nevis  has once again raised the issue of  critical state of the development bank's financial crisis and shared the details.
admin