Dubai’s new timeshare law to boost the local industry
As the largest independent timeshare sales and marketing company in the MENA region, Arabian Falcon Holidays is set to further cement its role in the industry following Dubai’s landmark announcement for the vacation homes industry
Over the last decade, the popularity of vacation homes has grown tremendously. In the Middle East especially, the market has flourished, thanks to fast-track development in the region. It’s all thanks to the efforts of companies such as Arabian Falcon Holidays, a pioneer of the vacation ownership industry in the Middle East and North Africa.
Building on this momentum, in December 2020, Dubai announced its groundbreaking new initiative, Law No. 14 of 2020 to regulate the timeshare property market issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. The new law mandates that Dubai’s Department of Tourism and Commerce Marketing (DTCM) will oversee all activities related to the industry in Dubai, including developing the framework for the selling, marketing and management of properties sold under timeshare programmes.
With a host of new terms and conditions to effectively govern the market, the new law will boost the timeshare industry’s appeal in the UAE and the region at large. The legal framework brings with it greater transparency, legal accountability and a thrust for the pandemic-struck real estate and hospitality sector.
Al Mohannad Sharafuddin, the award-winning Timeshare Thought Leader and Founder of Arabian Falcon Holidays, said: “Law No. 14 of 2020 will provide flexibility and protection for the companies involved and end-users, allowing the timeshare industry to reach its true potential. The industry can continue to open doors for Dubai-bound travellers of all kinds, from first-time homebuyers to digital nomads.”
A landmark decision, this move bolsters the efforts of Arabian Falcon Holidays and its presence in Dubai and the MENA region. And despite the impact Covid-19 has had on local tourism, real estate and hospitality, the firm remains buoyant.
Launched in February 1999, Arabian Falcon Holidays arrived at the dawn of the timeshare industry in Dubai. With a tireless commitment to quality and customer satisfaction, the company has world its way to the top and today boasts a diverse portfolio of timeshare apartments in prestigious addresses, including the Royal Club in Palm Jumeirah, Residence Richer in Paris, the Royal Club in Downtown Dubai, the Royal Club at The Bonnington Tower in Jumeirah Lakes Towers and several others.
The firm boasts a strong team of 80 industry professionals all over the world. With customer happiness at the heart of its operations, the company is a preferred choice among investors, thanks to its customer service.
Arabian Falcon Holidays is also an active member of the Dubai Chamber of Commerce & Industry. Adding to its brand prestige, the firm was honoured with the Interval International Pioneer’s Excellence Award at the Vacation Ownership Investment Conference in 2007.
With the announcement of the new law, the value of timeshare concepts has become even more evident during this time, and its prevalence will continue to rise in the new normal. David Clifton, Interval International VP Europe/MENA/Asia, concluded: “Dubai will be the next Orlando if fair timeshare legislation is implemented.”