Timeshare to contribute AED14b to Dubai

In the UAE, the timeshare industry grew by 15-20 per cent in 2013 and is estimated to have grown by 30 per cent in 2014, according to an AFH report. Dubai is set to be the fastest growing timeshare market in the world and this sector will give the emirate's economy a AED14 billion boost by 2020 – thanks to the significant increase in the number of tourists, real estate prices and hotel room rates in the emirate over the next decade, according to a new study. “Dubai is one of the top cities in the world that receive frequent international visitors – new and returning ones – both for business and leisure, exceeding those registered by many tourist destinations globally. And this makes Dubai an ideal place to invest in the timeshare sector,” said a report by Arabian Flacon Holidays (AFH), a Dubai-based timeshare sales and marketing company. "With property prices in Dubai clocking the fastest growth rate in the world in 2013, many aspiring property owners in the emirate are being priced out of the second home or vacation home market. For such people who visit Dubai on a regular basis and stay in one of the hundreds of hotels around the city, an investment in timeshare makes perfect financial sense," said Mohannad Sharafuddin, Chairman and CEO of Arabian Falcon Holidays.