Dubai to become key interrnational timeshare market
MENAFN - Middle East North Africa . Financial Network: "Dubai to become key interrnational timeshare market
MENAFN - 19/07/2005
(MENAFN) According to a top industry official, the new timeshare legislation to be issued by the Dubai Government later on this year, could raise Dubai's stature as one of the top three timeshare markets in the world, alongside Orlando, Florida, and Las Vegas, Gulf News reported.
Statistically, more than 7 million people worldwide own more than 10 million timeshare weeks at around 6,000 resorts in 95 countries, and industry sales volumes now exceed $10 billion annually. In the Middle East and North Africa, about 90,000 families own vacation resorts.
Interval International is opening a Gulf sales office in Dubai, based at the Dubai Airport Free Zone, which will work with developers to expand the number of Middle East resorts and destinations available to members.
It has been working with the government and key industry professionals to create a sound regulatory platform that provides consumer protection and allows legitimate businesses the ability to grow, and was involved in the recent timeshare awareness and best practice seminar, organised by Dubai's Department of Economic Development.
He said major timeshare resort developers are ready to invest in beachfront developments as Dubai has the right mix for such ventures.
Kuwait-based International Financial Advisors (IFA) is investing $600 million in a timeshare resort at the Palm Jumeirah, the first in the UAE.
According to RCI, the global timeshare exchange company, despite having a sizeable vacation members in the Middle East, only 38 resorts offer timeshare to the region's members. RCI has opened its regional office at Dubai Internet City in May 2003."
Now all Dubai have to do is update their timeshare laws...
MENAFN - 19/07/2005
(MENAFN) According to a top industry official, the new timeshare legislation to be issued by the Dubai Government later on this year, could raise Dubai's stature as one of the top three timeshare markets in the world, alongside Orlando, Florida, and Las Vegas, Gulf News reported.
Statistically, more than 7 million people worldwide own more than 10 million timeshare weeks at around 6,000 resorts in 95 countries, and industry sales volumes now exceed $10 billion annually. In the Middle East and North Africa, about 90,000 families own vacation resorts.
Interval International is opening a Gulf sales office in Dubai, based at the Dubai Airport Free Zone, which will work with developers to expand the number of Middle East resorts and destinations available to members.
It has been working with the government and key industry professionals to create a sound regulatory platform that provides consumer protection and allows legitimate businesses the ability to grow, and was involved in the recent timeshare awareness and best practice seminar, organised by Dubai's Department of Economic Development.
He said major timeshare resort developers are ready to invest in beachfront developments as Dubai has the right mix for such ventures.
Kuwait-based International Financial Advisors (IFA) is investing $600 million in a timeshare resort at the Palm Jumeirah, the first in the UAE.
According to RCI, the global timeshare exchange company, despite having a sizeable vacation members in the Middle East, only 38 resorts offer timeshare to the region's members. RCI has opened its regional office at Dubai Internet City in May 2003."
Now all Dubai have to do is update their timeshare laws...
posted by Lee at 11:33 PM
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