Dubai is known for drawing in both business and leisure visitors from around the world. Now, industry experts believe that timeshare is the way to benefit both tenants and homeowners there, by making accommodation affordable for holidaymakers.
Dubai’s Department of Tourism and Commerce Marketing oversees the emirate’s efforts to woo visitors to its many attractions. It hopes that a new timeshare initiative will do just that. The proposed system seeks to address the numerous issues associated with timeshare ownership in Europe, in order to make the arrangement better suit timeshare owners. A flexible arrangement that factors in the success of the Airbnb model would see visitors booking short stays in a property with just one owner.
The proposed model is as much a short-term letting initiative as it is a timeshare arrangement. Between 500 and 1,000 timeshare properties are expected to be listed for rent, providing affordable, family-friendly accommodation that should encourage tourists to see Dubai as something other than an out-of-reach, five-star destination.
“It’s interesting that the Dubai authorities have sought to associate their new rental accommodation model with the word ‘timeshare,’ which still carries with it a lot of negative connotations. Many timeshare owners are desperate to escape from the burden that their timeshare has become over the years. Steeply rising maintenance fees and poor availability have meant that many timeshares have become millstones around their owners’ necks. One presumes that this is not what the Dubai authorities are hoping to bring to mind!”
Mark Rowe, Founder, Timeshare Compensation
Of course, the very word ‘timeshare’ still sends shivers down the backs of many of those who own such properties over in Europe. Aggressive or underhand sales tactics, new contract holders being rushed to hand over money during the cooling off period, practically inescapable contracts… all of these are associate with timeshare ownership in Europe and elsewhere.
Timeshare Compensation works with owners facing just these types of issues. The company is committed to helping people understand their options when it comes to exiting their timeshare contracts. The dream of owning a holiday timeshare property does not always equate to the reality, and this is where Timeshare Compensation comes in.
For those whose contracts are for ‘floating weeks’ products or last for more than 50 years (known as ‘in perpetuity’), there may be a way out. The same applies to owners who handed over money during the contract cooling off period. In such cases, challenging the validity of the contract can result in the courts awarding compensation, thus bringing to an end the nightmare of unwanted timeshare ownership.
Timeshare Compensation and Timeshare.lawyer are a trading names of Advanced Business Consulting Legal SL.