Enactment of new legislation to bring confidence in the timeshare market in Dubai
Dubai, UAE - Dubai tops the list of timeshare destinations for Africans, driven by its world-class shopping malls and traditional attractions, according to the Founder of Arabian Falcon Holidays (AFH), the largest independent timeshare player in the Middle East.
Africa represented 5 per cent of the total inbound tourism source market of Dubai in 2015 and the potential to develop this segment appears lucrative due to the government’s effort to encourage economic ties with the African continent.
Mohannad Sharafuddin, Founder of the Arabian Falcon Holidays, said: “Dubai is the top destination amongst our timeshare owners from Africa. Efforts of the UAE government in strengthening its economic ties with the African countries proves to yield mutual benefits. One of the vital reasons behind the dynamic UAE-African relations is the robust role of Dubai. This is reflected through an increase in a number of African tourists coming to the country as a result of more direct flights and easier visa regulations.”
With over 200,000 Nigerians visiting Dubai in 2015, AFH is continuing to expand its reach in the country and other nations such as Angola, Ghana, Kenya, Tanzania, Uganda and Senegal.
“Africans believe in spending quality time with their families and opt to buy timeshare, which promotes the idea of family holiday,” Sharaffudin said.
According to Arabian Falcon Holidays, the timeshare market is expected to grow strongly, surpassing the average growth rates of 15 per cent to 20 per cent per year, with 2017 heralding a new era that will witness 50 per cent growth as new tourists visit theme parks and attractions such as Dubai Opera.
“Considering the advantages to invest in timeshare, owners do not just benefit financially by savings thousands of dirhams, they are also privileged to experience high-quality services,” he added.
“Our timeshare agreement is for a 50-year period during which rates remain the same. Moreover, timeshare owners can opt for worldwide exchange by paying a small transfer fee,” Sharaffudin said.
A recent report by Interval International, a world renowned exchange company with over 2,500 resorts worldwide, stated that Dubai has the potential to become the new Orlando or Las Vegas of timeshare.
Analysing the figures in Dubai, the report found out that if 5 per cent of the emirate’s 100,000 hotel rooms and serviced apartments are converted to timeshare, with an estimated average sale price of AED73,400 ($20,000) for each week’s vacation ownership, it could result in a whopping AED18.35 billion ($5 billion) in sales volume.
“Visiting Dubai serves as an aspiration for many travellers from various parts of the world. It has just about everything for every category of traveller. The timeshare industry can support in further making Dubai more attractive, economical and accessible in order to encourage travellers, especially those with families, to visit the dynamic emirate year after year,” Sharaffudin said.
“We look forward to the enactment of a new legislation that would bring confidence in the timeshare market and maintain a fair balance between the interests of both customers and operators,” Sharrafudin concluded.
About Arabian Falcon Holidays
Arabian Falcon Holidays (AFH), the largest independent timeshare sales and marketing company in the Middle East, was founded in 1999 when the potential of the UAE, Dubai in particular, as a market for vacation ownership was recognised.
Arabian Falcon is a premier international service provider to the timeshare industry in the Middle East and has been delivering excellent client services and providing the best vacation products in the GCC market since 2003.
AFH has timeshare properties in Royal Club Bonnington Hotel, Jumeirah Lakes Towers, Dubai; Royal Club at The Palm, Palm Jumeirah, Dubai; Serenity in Les Jardins de Zyriab, Marrakech, Morocco; Palace of the Golden Horses, Kuala Lumpur, Malaysia; Golden Palm Tree, Kuala Lumpur, Malaysia; and Elysium Vacation Club, Istanbul, Turkey.
The company is licensed to market and sell timeshare in the UAE and has deposited the required AED 1 million bank guarantee with the Department of Economic Development, Dubai. Arabian Falcon Holidays is an active member of Dubai Chamber of Commerce and Industry, Membership No. 53170.
At the Vacation Ownership Investment Conference (VOIC) 2007, Arabian Falcon Holidays was honoured to receive the Interval International Pioneer’s Excellence Award, which was presented to AFH Founder, Al Mohannad Sharafuddin by Interval International Chairman and CEO Mr. Craig M. Nash. The award was given “for visionary foresight and recognition of the timeshare potential of Dubai, and for pioneering the marketing and selling of the city’s first timeshare resort.”
About Royal Club Dubai
The Royal Club Dubai is a luxury brand of vacation ownership resorts based in Dubai, United Arab Emirates. The Royal Club’s resorts are owned by two sister companies, Caryatid Properties Ltd and Dermarr Properties Ltd. Dermarr Real Estate Brokers LLC, a company based in Dubai, is the authorised representative for all of these resorts and any future resorts created under the Royal Club brand. In 2010, we also opened a satellite office in Victoria Island, Lagos, Nigeria called Dermarr Properties Nigeria Ltd.
At the Royal Club, we believe in delivering the best, therefore we appoint only the best companies to look after you and your investment.
About Interval International
Interval International is a world renowned exchange company with over 2,500 resorts worldwide. We have appointed Interval International as we feel that their resorts are of similar quality to ours, all offering 5 star standards so that the clients can enjoy them.
RCI is the world leader in providing holiday exchange services, giving its members the freedom to explore more than 100 countries, staying in some 4,300 carefully selected resorts affiliated to its vacation exchange programme. RCI pioneered the concept of holiday exchange in 1974, offering members increased flexibility with their holiday home ownership experience. Today, RCI provides flexible holiday options to its 3.8 million members each year. As part of the Wyndham Worldwide Group of companies, the world’s largest hospitality group, RCI members also enjoy access to – and exclusive member value deals – on a selection of the more than 112,000 properties available in the wider Wyndham hotel and resort portfolio.
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© Press Release 2017