Timeshare regulatory regime to be adopted

Regulatory framework for Dubai's timeshare sector looks likely

  • E-Mail
By  Sean Cronin Published  May 14, 2005

A regulatory regime for the fledgling Dubai timeshare industry is just months away. CW has learned that a regulatory framework is likely to be put in place by the end of the year, in a move that could prompt a second residential building boom in the emirate. Several international hospitality groups are understood to be poised to invest in new construction schemes, but are holding back until the framework is in place. Interval International, the timeshare exchange forum, has been in talks with government officials about introducing a regulatory system aimed at protecting consumers and investors. David Clifton, MD of Europe, Middle East, Africa and Asia for Interval International, said: “There are a number of international companies poised to come into the market in Dubai, but what they want to see is timeshare industry regulation in place so that people understand what their rights are, and so that businessmen are also protected. “We understand that the government is anticipating adopting these regulations within the next three to four months.” Several timeshare-based schemes were unveiled at the recent Arabian Travel Mart in Dubai, including a 300-apartment timeshare resort from Dubai Festival City. (See page 5)

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code