Dubai Shared Ownership Property Forum in the Offing
Dubai property market has a huge potential for shared ownership property both in terms of sales and mixed-use property developments*. However, shared property experts opine that the biggest challenge in this regard would be educating investors as well as developers of Dubai property. One of the ways out of this fix is developing a symposium of Dubai shared ownership property developers and companies. This can have orientation programs towards the relevance of timeshare and related concepts. Many still do not know that timeshare is quite compatible with the traditional Islamic principle called ‘Sukok’, whereby property ownership is in terms of a title or deed. The said symposium in the property market in Dubai can also organize comprehensive programmes, presentations and debates on the various aspects of shared ownership property such as sales techniques, marketing strategies, financing, rentals and regulations.
Dubai having established itself as a leisure destination across the world, the most lucrative shared ownership property option is timeshare hotel units. This kind of property is fast emerging as a profitable venture in the world property market. It is estimated that in the next five years or so, timeshare will see a 50 percent rise worldwide. It can, however, witness a greater growth in the Middle East, in particular Dubai, wherein there have been developments keeping in tandem with the tourism industry. In fact, both tourism and property sectors can benefit symbiotically from each other.
In addition, there have been surveys underway regarding shared property developments in Dubai. Fractionals, condo hotels and private residential clubs are the more prominent alternatives in this sector of Dubai property. The surveys in Dubai property market aim at presenting a quantified database of preferences and perceptions of people towards timeshare and shared property ownership developments.
At present as per the surveys, there are more than 30,000 timeshare property owners in the Middle East. It is also estimated that Dubai economy can get about 2.5 billion dollars pouring in through shared property sector alone.
*Property developments that have a combination of residential, retail and office spaces.
Dubai having established itself as a leisure destination across the world, the most lucrative shared ownership property option is timeshare hotel units. This kind of property is fast emerging as a profitable venture in the world property market. It is estimated that in the next five years or so, timeshare will see a 50 percent rise worldwide. It can, however, witness a greater growth in the Middle East, in particular Dubai, wherein there have been developments keeping in tandem with the tourism industry. In fact, both tourism and property sectors can benefit symbiotically from each other.
In addition, there have been surveys underway regarding shared property developments in Dubai. Fractionals, condo hotels and private residential clubs are the more prominent alternatives in this sector of Dubai property. The surveys in Dubai property market aim at presenting a quantified database of preferences and perceptions of people towards timeshare and shared property ownership developments.
At present as per the surveys, there are more than 30,000 timeshare property owners in the Middle East. It is also estimated that Dubai economy can get about 2.5 billion dollars pouring in through shared property sector alone.
*Property developments that have a combination of residential, retail and office spaces.
posted by Property Reporter at
10:38 PM
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