Timeshare expected to add Dh14 billion to Dubai’s economy by 2020

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 that they are hoping that the Timeshare Law in Dubai will be released as early as end of the year in fairness to all players and stakeholders so that both the company and the consumers are protected whilst contributing to the economy.

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 Dh350 million-Dh500 million, which expands to Dh1 billion when indirect and induced impacts are included.  The timeshare industry is expected to add Dh14 billion to Dubai’s economy by 2020. The upcoming Law will unlock the potentials of the industry participants to extend amazing Dubai deals that offer “value-for-money” to timeshare buyers from all across the world. Timeshare is also fast catching up among the millennial generation. A more detailed interview will be available in our September print version on www.travtalkmiddleeast.com.