Today, although there are many owners who are trying to get out of their timeshares and avoid such vacationing option, it was forecasted that the timeshare industry has a promising future in other parts of the world. The Middle East and North Africa could be a compelling region for timeshare developers focusing on sustainable success as industry experts say.
During the 2010 Middle East Shared Ownership Summit held in Dubai, the numbers of delegates alongside with the region’s most prized hotel investment forum played out the vision of MENA as a very exciting emerging market opportunity for shared ownership.
Jeff Tisdall, the managing director of RCI and The Registry Collection, MENA, explained that for shared ownership, the constellations had come into alignment with perfect timing. He added that the interests of developers and investors have come into alignment at same time as maturation of destinations. Tisdall had told the RCIVentures.com that a major factor in holding the market back to a great extent had been the key players likely to shape shared ownership being focused on whole ownership developments until recently, when activity in that sector came to a standstill.
At the same time, there was also a significant maturation of leisure and vacation destinations, particularly along the east north coast of Egypt, Abu Dhabi and Dubai. While many headlines had projected the demise of many developments in the UAE’s jewel city due to the financial crisis, in reality big projects were maturing. As Tisdall said, the mega projects and concepts of three years ago have come to life and they’re attracting incredible numbers of visitors each year, driving repeat guests and adding value to the leisure destination itself.