December 2023

Fractional Ownership of Real Estate and the Timeshare Concept in the Middle East

Fractional Ownership of Real Estate and the Timeshare Concept can have big potential in the Middle East

NorthCourse, one of the most trusted real estate relief and solutions companies in the world recently held a study on how people in different parts of the world, specifically in the Middle East, accept the real estate and timeshare industry.

According to NorthCourse, 44% out of the respondents of their survey would want to invest in timeshare ownership for vacation purposes. This is quite surprising, especially because timeshare is not yet widely spread in the said Asian region.

It is already a fact that the timeshare industry will grow and develop more in the coming years. They estimated and increase of 50% in the next five years, especially in the Middle East. The reason why only 44% of the respondents were interested with timeshare ownership and fractional real estate is because the 56% of the respondents has no idea about the concepts yet. Another obvious reason is that the timeshare industry is not even operating in their place as for the moment.

In the Middle East, the country that is the most familiar with timeshare is Egypt. Egypt owns 62% of the timeshare resorts with fractional ownership. Despite that, the NorthCourse researchers said that it is expected that in the coming years, there will be more construction and expansion in other prosperous places in the Middle East such as Abu Dhabi and Dubai. The researchers also said that this Asian region has great potential and it is good to invest and develop timeshare properties there.

Because of this great news, the world-renowned real estate company Fractional Life organized the “Shared Ownership and Fractional Summit Middle East” in Yas Hotel in Abu Dhabi. In this way, people from Abu Dhabi and other places will be able to learn more about fractional ownership of real estate, timeshare ownership, and everything that has to do with vacation options and the timeshare industry.

Several timeshare companies and developers worldwide have heard of this news and are now looking forward in expanding their timeshares and choosing Dubai, Abu Dhabi, and other beautiful places in the Middle East to construct timeshare properties.…

The Ups and Downs in the Maryland Solar Industry

A great stepping stone for the Maryland solar industry would be to add solar energy systems to state buildings. Well, on March 24th, 2010, just that happened. The Maryland Department of General Services announced that they would be installing photovoltaic systems on 5 of their buildings. Engaged in a 20-year power purchase agreement with SunEdison to install, finance, own and operate the five solar systems, Maryland taxpayers would not be responsible for the upfront cost of the projects. Photovoltaic arrays would also be a great addition to the Maryland renewable energy portfolio.

Another good sign for the Maryland solar industry involves the Maryland Energy Administration updating a new incentive program for the installation of mid-sized solar electric systems. In an attempt to make clean energy retrofits accessible to local businesses, the two year program would use a total of up to $1.45 million to help subsidize the cost of commercial rooftop solar projects.

Maryland businesses would qualify for a rebate of $500 per kilowatt of solar electricity installed for systems between 20 and 100 kilowatts, or a grant of up to $50,000. The Maryland Energy Administration incentive program would also cover up to 15% of a solar thermal system, or up to $25,000 per grant. Business owners should be very attracted to this offer as the economy is prime for building your own photovoltaic business from the ground up. The Maryland solar industry will undoubtedly see growth from this move.

But in the end, one blemish to the Maryland solar industry must be noted. On March 26th, BP Solar regretfully laid off 320 of their 430 employees putting a halt to all production of photovoltaic panels in their Frederick, Maryland plant.

Unfortunately, because we are still in a recession, the Maryland solar industry along with other states’ markets will still see setbacks like the one previously mentioned. This might be another sad event that needs to occur for the entire green economy to move forward. Some solar companies will have to fail before we see price drops and the huge boom the solar industry seems to be waiting impatiently for.…