Economy Creates an Interesting Situation in Dubai Timeshare and Vacation Ownership

RCI Middle East and North Africa Managing Director, Jeff Tisdall, has an interesting observation to make about Middle East timeshare and Dubai timeshare specifically. “From a consumer perspective, the financial crisis helps to highlight some of the key advantages of timeshare. When times are tougher economically, we all tend to use what we already have,” Tisdall explains. “If you looked back 12 to 18 months, the strength of the residential market made it very difficult for established vacation clubs to enter the Dubai market by acquiring a block of residential units and then offering them to their member base. Today, conditions are much more favorable.”

In other words, when the economy was stronger, so was the Dubai real estate and vacation property market for sales of property to individual owners. Now, fewer people are laying down the cash it takes to buy a holiday home in the Middle East and developers, who once held a firm grip on many of the most highly prized destinations, are suddenly embracing the concept of shared ownership. Egypt timeshare and fractionals have seen success in Sharm El Sheikh (in the southern tip of the Sinai Peninsula in Egypt) and Hurghada, (in the Red Sea Coastal area of Egypt) both of which are areas where timeshare owners continued to travel, despite the tight economy.

Dubai Timeshare Stands Out

According to Tisdall, investors are looking at shared ownership and mixed use developments in Dubai with interest. “This is because the fundamentals which analysts look for when predicting strong potential for timeshare are all present in Dubai. Most importantly perhaps, Dubai is really starting to mature as a leisure destination,” said Tisdall.

These topics and others will be covered at the Shared Ownership Summit, scheduled for May 1, 2010 that will be held in conjunction with the Arabian Hotel Investment Conference.