Eye on $1.2bn timeshare industry
Experts from the leisure real estate, tourism and associated industries are set to address the 2nd Annual Middle East Leisure Real Estate Symposium on September 9 at the Grosvenor House Hotel in Dubai.
Organised by Group RCI and NorthCourse Leisure Real Estate Solutions, the event provides a unique forum to learn about a sector that will have crucial importance throughout the Gulf region.
With local destinations like Dubai being billed by experts as the next Orlando, the organisers say it’s important to understand the vital role timeshare plays in satisfying consumer demand for a wide choice of vacation accommodation options. In fact the organisers say its anticipated that nationals in the Gulf region will spend $1.2 Billion annually on shared ownership leisure real estate within the next 12 years – something that will excite developers looking for innovative ways to design and market inventory.
According to Claude Attala, managing director of NorthCourse’s regional business in Dubai, the event is very timely indeed. He said, “identifying future trends and creating business models to maximise the return on investment is central to underpinning the market for real estate in the Middle East. Both large scale investors and private landlords need to know what options they have moving forward. Our event represents a master class where delegates will have access to some of the best brains in the business.”
Much of the symposium is based upon the latest independent research. The research underlines the keen interest expressed by Gulf nationals in buying into a variety of shared ownership options. In fact 68 per cent said they were keen to do so, both in terms of conventional timeshare and Fractional Ownership. This applies to buying fractions of interest in a property, ranging from one month to three months.