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New timeshare rules needed for industry growth
August 04, 2016
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Dubai: The timeshare industry in Dubai and globally is eagerly awaiting the release of the new Timeshare Law, which will propel the industry on a growth path. This is according to the Chairman of Arabian Falcon Holidays (AFH), the largest independent timeshare player in the Middle East.

Chairman of Arabian Falcon Holidays, Mohannad Sharafuddin, said: “We are hoping that the Timeshare Law in Dubai will be released as early as end of the year. We, along with the timeshare industry, have been eagerly awaiting the release of this legislation for the past few years. We are really confident that the presentation of the Law will create a positive impact in the industry.”

The hospitality segment in Dubai has been quite active with several companies announcing new hotels and commencing construction of their projects as Dubai gears up to host Expo 2020 and aims to attract 25 million visitors by then.

Though local media reports have suggested that the ground-breaking Timeshare Law has been in the draft stage for some time now, no concrete news on its release date has been issued so far.

“We have our 16,000 members visiting the emirate every year. We are confident that the market will flourish as soon as the Timeshare Law comes into play, allowing us to unleash new marketing campaigns across the globe to increase tourism to Dubai,” Sharafuddin said.

The core idea of timeshare is ‘Family Vacation’ and Arabian Falcon Holidays alone brings in over 16,000 of its members to Dubai every year. Shared vacation ownership through AFH generates direct turnover between Dhs350 million - Dhs500 million, which expands to Dhs1 billion when indirect and induced impacts are included. The timeshare industry is expected to add Dhs14 billion to Dubai’s economy by 2020.

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