Middle East Symposium on Leisure Real Estate and Timeshare

Timeshare Booming in Middle East

The second annual Middle East Leisure Real Estate Symposium will again be scheduled for Dubai. On September 9, 2007, at the Grosvenor House Hotel, Group RCI (Resort Condominiums International) and NorthCourse (SM) will host the event designed to serve as a forum for learning more about the Middle East’s important growth industry of vacation ownership.

According to a press release that appeared in Arabian Business, “with …destinations like Dubai being billed by experts as the next Orlando, …it’s important to understand the vital role timeshare plays in satisfying consumer demand for a wide choice of vacation accommodation options.” The news release goes on to say that the symposium organizers anticipate that, “nationals in the Gulf region will spend US $1.2 billion annually on shared ownership leisure real estate within the next 12 years…”

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With those kinds of numbers being thrown around, it is no wonder that RCI executives were quoted in Khaleej Times online as saying that the introduction of timeshare property developments could result in a “property market frenzy”.

In Tuesday’s Timeshare Owners Blog, we will look at what government officials in Dubai are doing to establish timeshare industry regulations here.