Timeshare Property may prove to be a boon for Dubai Property Market

With every passing day, Dubai property market is becoming more and more competitive. According to RCI – the largest shared property ownership company in the world - although Dubai property still promises high returns to investors, they cannot expect drastic profits anymore. In this scenario, the advent of timeshare property developments in Dubai is one of the ways in which profits from the property market can revert to an intense rise.
Timeshare property is a kind of property based on shared ownership during vacations. Given that Dubai is a booming tourist hub in the world, timeshare property has a great potential for growth. Although this property option is available in other countries of the Middle East for over a decade, it will be a pioneer endeavour in Dubai.
Introducing this in Dubai property market some time in early 2008 could ignite the arrival of the early days of Dubai property market growth. It is estimated that around 30 developers will commence timeshare property projects in Dubai. In addition, there would be a sound legislative framework in place so that timeshare business model can be regulated as per international standards. There will also be a comprehensive set of guidelines for timeshare property business methods, procedures and practices. The rules and regulations will be finalized by the end of this year.
Investing in timeshare property is less risky as compared to other property investments as the amount at stake is comparatively lower. Research in this regard has revealed that people from the GCC countries would form a majority of investors in Dubai timeshare property.
Globally, around 5 million people own timeshare property.