Possible legislation changes for timeshare arrangements in Dubai could spark intense growth, according to industry experts.
Interval International managing director David Clifton said the legislation could unleash the Middle East’s potential.
“In Dubai, the sector is in waiting for specific time share regulation to be passed any day now and this will have a major impact on the choice of accommodation development by investors in hospitality real estate,” he said.
“Meanwhile, wise developers and investors are already planning to add time share to their hospitality portfolio.”
While the potential for timeshare in Dubai is expected to be strong – the city has been earmarked to join Orlando and Las Vegas in America as one of the three international “timeshare super-cities”- demand for timeshare is also forecast to be strong throughout the Middle East.
“The Middle East is perceived by experts in the vacation ownership industry as having incredible future potential,” Clifton said.
But any future timeshare developments must be fully understood and managed with respect, he said.
“This is a business model that once understood brings enormous value to the table of everyone involved – the investor, the developer, the operator, and ultimately, the consumer,” Clifton said.
Legislation changes and the potential for the region will be some of the topics discussed at this year’s Vacation Ownership Investment Conference in Dubai on March 6.
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