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.