Dubai’s Department of Economy and Tourism (DET) have launched an online portal that allows timeshare operators to register, apply for permits, and provide insights and guidance to customers and tourists, furthering His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai’s vision of making Dubai the world’s best city to live, work, and visit.
Customers, tourists, investors, and holiday operators in Dubai will benefit from the new portal, which complements the legal framework established by Dubai’s new Timeshare Law. The DET-built Timeshare Portal, which was established in collaboration with partners, allows potential timeshare operators to register and submit applications for timeshare properties, get a license as a registered timeshare operator, and renew these licenses on a yearly basis.
The site will have a significant impact on the tourism economy, boosting investor trust in the city’s real estate and hotel options. It will also expedite the approval process and provide investors, owners, and operators with assistance and quick access to information, as well as tourists who seek to use timeshare during their vacation to Dubai.
The Timeshare Portal strives to create a better business environment and a more seamless experience for all parties involved, while also ensuring client safety. The portal is a multi-entity endeavour that spans Dubai. The Timeshare Portal strives to create a better business environment and a more seamless experience for all parties involved, while also ensuring client safety. The site, which is a multi-entity Dubai-wide project, is largely driven by a cooperation between DET and the Dubai Land Department (DLD), with ongoing coordination from the Dubai International Financial Centre (DIFC). The simply navigable online portal aims to advance the cause.
The Timeshare Law, which governs the timeshare industry, attempts to preserve all parties’ rights while also spurring growth in the hospitality, tourist, and real estate industries. DET, in partnership with DLD and DIFC, maintains a database of property brokers, developers, establishments, and operators in line with the law. DET may now monitor and inspect all facilities in order to identify and handle all contractual terms and conflicts.
DET also monitors timeshare contracts and investigates complaints and grievances against anyone who engages in timeshare activities in Dubai without first acquiring the necessary permits and permissions. All new timeshare properties will only be designated as part of new or existing hotel rooms, according to the law, but legacy operators will be allowed to continue operating. No private properties will be allowed to run timeshares under the upgraded system offered through the portal.
“With Dubai safely overcoming global challenges, we continue to explore new pathways for growth, as well as opportunities created by the changing landscape to further diversify our destination proposition, based on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to make the city the world’s leading travel and tourism destination. We now have a regulatory model that supports customers, developers and vacation ownership operators with a clear and fair legal framework in place for all parties involved in the domestic timeshare market. The launch of the online Timeshare Portal will support the implementation of the Timeshare Law and help pave the way for a world-class vacation ownership market in Dubai, whilst also providing suitable alternatives to tourists encouraging them to spend multiple and extended holidays in the UAE.”
“Our strategic partnership with the Dubai Land Department and multi-level cooperation with other government and private sector entities to ensure smooth implementation of the Timeshare Law is testament to the ongoing collaboration between government and private sector partners in Dubai, which has been an integral feature of our city’s continued success. As we ramp up efforts to further accelerate growth in this landmark year of Expo 2020 and the UAE Golden Jubilee, and beyond, we are fully committed to taking robust measures and setting new benchmarks to enable us to remain competitive as a global tourism and investment hub.” Is what the Director General of the Department of Economy and Tourism said.
A timeshare is a vacation real estate shared ownership model in which numerous investors jointly own a property and each owner is given a set amount of time to utilize the unit, usually in one-week increments. Many various types of hotel properties, such as vacation resorts, villas, and flats, can use the timeshare model. Even before the global pandemic, the vacation ownership market was booming, thanks to changing consumer spending habits that made timeshares a more flexible and affordable vacation alternative.