Global Investing: Cost of Borrowed Money to go high in Global CPI

US CPI (Commercial Property Investment) market worth $11 trillion was beneficiary for China’s $4 trillion reserves of dollars. But not for long now, Yellen Fed is all set to increase the cost of the borrowed money in the coming 2 years.

There were 19 FOMC rate hikes &375 basis point rises in the Fed Funds rate because of 2004-06 interest rate tighten. This cycle will be as same as Trump’s policies increasing inflation risk & post election bath in the bond market of $3 trillion loss will continue.

Global Real Estate

Picture Courtesy: www.fine-arts-print.com

Since last 8 years, office buildings rates in a prime market have doubled due to bull phase. It will end with reprisal as interest rates and inflation will surge in this year and next year. Although the vacancy rates have started to grow higher, sales growth tracks have softened. Original rates on commercial property backed pools (CMBS) have also got up to 10% in last year.

$250 billion worth of commercial mortgage-backed securities is due in the year 2017-18. This might come across as a double curse for the landlords and lenders whose hands are currently tied with risk retention rules. Investing for short period of time and floating bank rate loans for overvalued asset category is preferable.

Image-2

Picture Courtesy: www.thecrowdfundnetwork.com

It is alarming to know that around 24% of the commercial property buyers are from GCC group. The investors from the group have been lured by the illusion of cheap properties in the bear market in the Gulf region which is a mistake because Chinese market will not lift the value in London prime as Beijing has cracked down in his capital flight from the Middle Kingdom.

The real opportunities for making money in the real estate sector in commercial category lie in the areas where the supply is limited and the demand is inelastic and where the government policies are largely propping higher property rates.

Leasing online and technologies related to data analysis will curb the brokerage costs.  Investors who don’t understand the complexities of a fluid global macro dimension of property more often gets wiped out in this leveraged asset category.

In near future, GCC and Silicon Valley will revolutionize the usage of office spaces through millennial generation’s work choices. “Industry Clusters” will be the next big thing which will be located near talent hubs. Sharjah would be welcoming to these types of trends because of its Boston like the proliferation of universities and colleges. E-commerce fulfillment centers will be developed by department stores.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: News, Real Estate

Reasons Why Uae Is Best When It Comes To Buying A Home

Universally, UAE has ranked as the best country for first time home buyers. Property rates witnessed a decline of -7.96 % last year while average real wages were increased. Young expats are struggling to get on the property front thereby spending lots on renting.

Image-1

Picture Courtesy: www.khaleejtimes.com

Prospective buyers condemn the new mortgage regulations which make the transition difficult for them. Initial down payment requires putting down 25% of the property’s value before taking a mortgage for a ready property.

Even 75% LTV contribution from the bank is around one-third of the property rate. 7.5% of the value includes stamp duty, brokerage, loan arrangement fees, registration for mortgage charge, etc. some experts opines that it’s good putting down 25% of the property value as equity for not overleveraging the buyer.

Reasons which incentivize the first time buyers when it comes to real estate prices in UAE are a lower rate of interest, attractive payment plans, and lower property prices. They are also more likely to go for readymade properties, however, off plan are cheaper and provide flexible post-handover payment plans.

Image-2@

Picture Courtesy: www.arabianbusiness.com

 50% of the new stock in Dubai this year has come up in suburban apartment districts like Dubai sports city, Dubailand and Dubai silicon oasis. Properties are priced between .8 million to 1.5 million making them affordable for first time home buyers which generally prefer ready properties because they are looking for directing their rental cheque towards mortgage payments.

Image-3

Picture Courtesy: www.coldwellbanker.ae

Clues for UAE’s first time home buyers

  • Place alternate options on hand

You might have good thoughts about an area because you have heard about it or have been already living there. However, it is always nice to keep other options available too and see other communities which might fit your needs better in low rates as well.

  • Once you search is narrowed as per your preferences to an area, find a consultant who is the specialist in that area.
  • If you are an investor and interested in higher capital appreciation, consider off plan property.

Mistakes often made by Beginners

  • They often miscalculate the down payment amount required to give. Advertised down payments have several other additional costs included as well like transfer fees, agent commission, mortgage fee, etc.
  • They often take quick decisions regarding where to take the mortgage loan from, without considering the alternatives

They consult too many agents about a single property.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai, Real Estate

Lower Rents Anticipated In Dubai This Year And Why

2017 will be another year anticipated well for the tenants as well as for the property buyers with the rents and residential rates falling by 5-10% as 16,500 new units’ supply is expected to put further downward pressure on the prices.

Global ratings for 2017 say that it’s another tough year after the corrections in the previous year for the real estate market of Dubai. Any sign of market improvement for the UAE real estate sector ruled out, even though the housing affordability is improving from the current price environment.

Image-1

Picture Courtesy: emirates247.com

2016 faced many types of fallout like low oil prices and never-ending currency woes. The residential rates hit a low with 8-11% on an average and rents fell by 6% affecting most of the areas of the city. For tourists, UAE has become costly because of dollar strengthening and low oil prices previous years have reduced the purchasing power thus weakening the investor sentiment.

Similarly, British Pound’s relative weakness against Dirham is another reason for the downbeat outlook making the real estate sector less attractive for UK nationals who are the 4th largest investors in residential real estate segment in the 1st half of 2016.

The pound dropped by 17% as against the US dollar over the last one year because of Brexit fear. For UAE, pound remains a concern as the UK is traditionally among the top three source markets in terms of visitors to Dubai.

Image-2-

Picture Courtesy: www.gitex.com

Any negative movements in the ratings of real estate sectors are not foreseen for coming 12-18 months as the developers will be busy in absorbing the fall of the house prices too low debt burdens & strong balance sheets. Well rated companies of real estate are hedged due to their high asset quality and a large period of lease structure.

According to the rating agency, residential prices and rents are bound to decline further because of continued currency woes, while the office property segment is expected to be stable as a result of the subdued corporate activity.

The low in retail sales is likely to continue because of dollar strengthening and hotels will struggle with excessive supply despite tourism numbers being resilient. However, the expected rated developers will absorb the foreseen fall in the house prices because of their strong margins, low debt burdens, and strong balance sheets.

Along with the euro, Chinese yuan renminbi & pound, the Indian rupee has also declined by 7, 2 &3 % respectively.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai, Real Estate

Legoland Hotel: Ready to be Opened Soon in Dubai

Dubai Parks and Resorts in the Middle East will soon witness the first Legoland Hotel from DXB Entertainments. It will be the 7th property to open around the world and the hotel is the joint venture of DXB entertainments and Merlin entertainments in 60: 40 ratio. Once it will start, it will be operated and maintained by Merlin Entertainments. The opening date is still not specified.

Image-1

Picture Courtesy: www.dotwnews.com

On 14th Feb 2017, the operator of the theme recorded the revenue of Dh 75.9 million out of which 63.4 million was the actual revenue of the park. The theme park revenue came from Legoland Dubai in the month of November & December and from few weeks of Bollywood Parks Dubai & Motiongate Dubai.

Image-2

Picture Courtesy: www.motiongatedubai.com

In the year 2016, Dh485 million of loss was witnessed by DXB Entertainment and Dh110.9m in 2015. A large portion of their loss displayed pre-opening expenses which were covered in their project cost, said their CEO Raed Kajoor Al Nuami.

The Dubai Parks & Resorts complex was visited by 300,000 people in just 2 months of 2016. The coming quarters of 2017 will display the appeal of destination to visitors from across the globe as they start attracting business from international tour & travels.

The company currently has 3,100 employees and is marketing the destination in Saudi Arabia, India, and the UK. For the promotion, tie up with120 hotels in Dubai is also done.

The integrated theme park destination had a shaky opening; beginning with Legoland Dubai and Riverland Dubai, succeeded by Bollywood Parks Dubai, the Lapita Hotel, Motiongate Dubai, and the Legoland Water Park.

51 units of the firm were leased at Riverland Dubai, showing 84% of the space available, by December end. By the end of the year, only half of the units were operational at Riverland Dubai.

As per the CEO, their project team is targeting on delivering the remaining last elements in Motiongate Dubai, and they expect rest of all rides and attractions also the remaining units at Riverland Dubai to be available for the public by the start of the second quarter.

Image-3

Picture Courtesy: eme-me.com

The Six Flags Dubai resort is set to open by the end of 2019 after its construction will start in July. To finalize the design & tenders regarding infrastructures, the work is going on and also they are planning to have seven ride contracts in final stages.

Dh3.4 billion out of Dh 4.2 billion financing facility of DXB Entertainments has drawn for 1st phase of Dubai Parks and Resorts. Additional revenue streams involving providing project management services to develop Meraas for Dubai Arena is getting explored by the company along with half million square foot entertainment destination due for opening late next year.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai, News

Top 5 clues while moving houses in Dubai

Dubai rents will reduce more in 2017 with 20,000+ new homes entering the market, as per the prediction of the brokers. Fall in the rents will stimulate several young professionals & families of Dubai to move over to a location with better amenities & access. Moving houses are dreaded by most in Dubai, as it is a huge & expensive idea.

1

Picture Courtesy: www.trulyveniceapartments.com

The big mistake that people make while shifting is spending in excess on refurnishing apartments with new furniture & interior. People can save money by buying second-hand items of the household from certain websites. They have quality control process before ads appear so that the audience can opt from a wide range of affordable products for their homes.

Picture Courtesy: pinterest.com

 Comfortable household products can be shopped for without breaking the bank or compromising quality. Save your money with opting for furniture & electronics, a new 4 seater sofa set from a known retailer is available at Dh2675. A 2-year-old high-quality sofa set is also there for Dh550, thus saving the buyer Dh2,125.

5

Picture Courtesy: www.travelchannel.com

Shoppers can benefit from over 1000 products like ovens, television, washing machine and refrigerators. Other miscellaneous products like kids bicycle and baby pram will save many dirhams of the buyer because website listings are much lower than the actual. Free delivery at home and quality check before approving the transaction options are also provided by the website which makes shifting homes a lot easier on most of the pockets.

Top Five Tips for Saving the Costs while Moving

1 – Get numerous quotes.

2 – Move when the companies have less incoming jobs which are early in the week so that you can negotiate on a better price with movers.

3 – Stay aware of the unprofessional movers as they ask freelancers which don’t receive sufficient pay from their company. When it gets over, you find out that few items are damaged.

4 – Make use of coupons for taking moving service.

5 – Do not purchase supplies for packing. For the cartons, ask your friend, relatives, and employers. Supermarkets and liquor stores can help you as they have plenty of them.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai, Life Style

6 Productive Ways To Spend The Weekend For A Change

No matter how much you try to spend your weekend in a worthwhile manner you always end up on your couch lazing up and finding out that the next week has already started.

In today’s hectic lives, the weekends are looked forward upon recharging our batteries. It is hard to get off the bed and get going but don’t forget that that activity of interest can be pursued only during this time of the week.

Following are some tips to make the weekend more productive:

  • Planning it out

1-Planning it out@

Picture Courtesy: www.desertsafaritour.com

Planning it out is better than realizing later. Set aside the tasks you want to do like shopping, meeting friends, house work, catching a movie with the family, etc and allot time accordingly.

  • Ignore Work

2-IgnoreWork

Picture Courtesy: s3.amazonaws.com

It might be completely difficult for most of us to cut off from work, but it’s essential not to think about it at least one time in a week. Avoid checking calls from work and e-mails. Be away from your laptop as well & feel refreshed as you start your week.

  • Avoid Oversleeping

3-Avoid Oversleeping

Picture Courtesy: cdn1.vox-cdn.com

In order to balance the sleep deprived hours over the weekend, you end up disturbing your natural clock. Then you come to know that you have wasted half your day & you also feel dizzy.

  • Become Weekend Champ

4-exercise

Picture Courtesy: www.hotelandrest.com

If you are the type of person who can’t exercise during the hectic week, do it over the weekend. Doing exercise 2 days in a week is a lot better than no exercise at all. Even small amount of exercise counts and a 10 minute of workout can add up to a healthy lifestyle. 5-10 years of life span can be increased by leading an active lifestyle.

  • Break the Order

5-cycling

Picture Courtesy: www.arabianbusiness.com

Break the routine and try variety in your activities rather than sticking to a schedule. Don’t start the day with doing chores but go for a walk & then start doing all the things you have planned. If you don’t want to do exercise, then you can opt for yoga, cycling, aerobics, etc. this way, you would enjoy along with doing cardio.

  • Introspect & Rejuvenate

6-IntrospectRejuvenate

Picture Courtesy: firstproductreview.com

Weekends are for rejuvenating yourself, amidst all these chaos. Catch up with a relaxing massage. It is important to see inwards and think about where you want to reach in life & what will be the roadmap. Sit in silence and engage yourself in these thoughts.

So, instead of dreading for the next week’s work, embrace it as a challenge & get started!

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Life Style

Madinat Al Arab, Waterfront’s Infrastructure Work Taken Over By Nakheel

Moving ahead with infrastructure work of Madinat Al Arab, the master developer Nakheel is using a 522-hectare site with 266 mixed use plots situated at Waterfront in Jebel Ali.

Dar al Handasah is a Dubai-based consultant appointed by Nakheel for consultation of infrastructure design, engineering and site supervision services at Madinat Al Handshah, which terms for 5 zones. The design of infrastructure for 4 zones out of five is almost completed with the construction tender due for release in the 2nd quarter of 2017.

Image-1

Picture Courtesy: www.hyd-masti.com

A spokesman of Nakheel said that the Madinat al Arab’s strategic location is within easy reach of Dubai’s world central airport, recently unveiled attractions, theme parks, Expo 2020 site and UAE’s capital, Abu Dhabi making it a significant area for the growth & development.

They are reinforcing their commitment to the region and their investors by moving ahead with infrastructure in the main part of Waterfront.

In other parts of the area, Nakheel has already completed the nearby Veneto & Badrah communities featuring nearly 800 homes and retail center community because of opening this year. Nearby, the sprawling the Jebel Ali garden community of 42 towers for 40,000 people, is still under construction.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai, Real Estate

Indian Businessman’s Luxurious Mansion of Dh53m on Emirates Hills

City’s wealthiest residents reside in the Dubai Emirates Hills and the district again has demanded the most expensive property sale of the 2016 year, especially after an Indian businessman splurged Dh53 million ($14.4 million) on a mansion with a golf course.

Villa

Picture Courtesy: pinterest.com

The villa was founded on the UAE’s leading real estate portal by the buyer. The real estate market of Dubai still is one of the preferred choices for the world’s high net worth individuals and the leading choice for those from the GCC.

Last year’s record purchase of 24,000 square foot mansion of PH real estate is situated on a 39,000 square feet plot which is more than half size of a football pitch- ignoring Emirates Golf Club. The chief executive of Ph Real Estate said that they are delighted to set the record for the year 2016. They were formerly known as Powerhouse Properties and topped the transaction list for 9th year successively.

Image-11

Picture Courtesy: i.ytimg.com

 The property sale transactions of Dubai have come down for the past few years, as the authorities have tightened the lending rules to hinder the speculators & cool off the market. This action has helped the prices in most of the communities to make single digit reduces successively for the second year in 2016. Cash purchases continue to be the norm in luxury segment.

Year round sunshine and sandy beaches with modern commercial infrastructure are what comprises Dubai and also makes it unique within a 6-hour flight of 70% of the world’s population.

These are the factor which compels Dubai to compete with the world’s luxurious lifestyle destinations such as Monaco, saint Tropez and Saint Bart’s as well as major cities of the world including London, Hong Kong, Sydney & New York.

 The median price of a villa in Emirates Hills, earlier in the year 2016 was Dh 36 million, making it the most expensive neighborhood in Dubai. Second being the culture Village, the average villa price in the Creekside locale being Dh 24 million aided by high demand for the Palazzo Versace Properties.

Palm-Jumeirah

Picture Courtesy: 7days.ae

Median prices of Palm Jumeirah were advertised for Dh2700 per square feet in the past year, thereby making it the most expensive area on this basis of measurement. Villas in Emirates Hills are bigger & hence propels higher selling price, coming at Dh 2,686 per square feet.

Downtown Dubai per square feet valuing at Dh 2,467 only districts with 100 listings on the top portal in the year 2016.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai, News, Real Estate

Prices of Abu Dhabi’s Villa seen dropping by 15%

Mid prime and prime villa’s worth in Abu Dhabi are likely to drop by 15% at least. Similarly, apartments are expected at 7%, according to latest market outlook by Core Savills 2017 report.

Mid-market communities, especially smaller building units are anticipated for maintaining relative sale & rental price resilience and staying flat. 5% of rental margin has been already received mixed reviews and this is a reinstatement as some tenants are apprehensive of the fact that landlords may come in between the law seeing it as an opportunity to increase the rent by 5%, while 3% of municipality fees is payable by expatriates and is adding stress to overall rising household value.

1

Picture Courtesy: www.fairwayhomestravel.co.uk

CEO of Core Savills said that they have seen mainland areas landlords who are not very flexible with negotiating again for better rents thus losing tenants to outer & more affordable areas. However, this form of migration is statistically not reported so much & is artificially feeding the stock in these areas. This might act as a risk for the developers who overestimate the potential demand for outer areas and mid-market communities because of spurious swell in demand from less elasticity in main areas.

Around 2400 units in Reem Island are expected to be in the market by 2017. The extra supply will be tough to absorb & will expectedly cause a noticeable low in rental as well as sales values. Expat tenants will take in some of this stock which is currently renting in the mainland & aspires to be on the Island because of better construction quality and infrastructure and might consider the move because of rental drop rates.

2

Picture Courtesy: www.airberlinholidays.com

UAE’s residential property price index for Dec 2016 disclosed that sales prices of Abu Dhabi apartments registered a low in December 2016. Prices decreased 1.05% every month & 2.63% every year. Villa sales prices registered a decrease in December 2016 with prices lowering to 0.74% month to month & 4.99% the year per year.

The outlook of Reidin revealed that registered sale prices of apartments has shown a decline in December reaching low to 0.25% month per month & 0.90% year per year, whereas, villa prices have booked a low in December 2016 falling 0.04% every month but increasing 1.60% year on year basis. Rental prices for the apartment have decreased 4.57% year on year. Villa rental prices have swooped down to 0.15%month to month and also decreased 7.79% year to year.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Abu Dhabi, News, Real Estate

Buyer Protection Programme For Promotion of Trade With India Launched By DED

For improving bilateral trade relations of Dubai with India and protecting the trader’s interests importing products from Dubai Emirate, the Department of Economic Development (DED), has launched a new programme of Buyer Protection. The department’s promotion agency, the Dubai Exports has come up with the initiative designed by CCPC i.e. Commercial Compliance & Consumer Protection sector in DED as a pilot project by its Overseas Trade Office in India.

Commercial disputes will get resolved at minimal costs & quickly because of this programme. Traders of India can contact the representatives of Dubai Exports office for submitting any complaints after which the CPCC will start working towards settlement.

In India, the launch of the programme comes within a week of joint statement made together by Sheikh Mohammed Bin Zayed Al Nahyan, Indian Prime Minister Narendra Modi & Prince of Dubai, to develop a method & long term strategy for the rise of bilateral trade by 60% in coming 5 years.

In this photo made available by Crown Prince Court, Abu Dhabi, Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, right, talks with Narendra Modi, Prime Minister of India, center left, at the Emirates Palace Hotel in Abu Dhabi, United Arab Emirates, Monday, Aug. 17, 2015. (Ryan Carter/Crown Prince Court, Abu Dhabi, via AP)

Picture courtesy: financialexpress.com

The statement included that the potential sectors & impeding tariff & non tariff barriers, discovering of opportunities in service sectors and formulating sector specific strategy to boost the bilateral trade & investments will be the main areas to focus upon.

New phase of dynamic & sustainable engagements with leadership in India & UAE will be formed and added to the historic trade relationship of both the countries. This will enable them to work closer for optimizing their respective strengths.

First nine months data of 2016 reveals that the trade between both the countries was over Dh70 billion which is US $ 19.1 billion. Right now, Indian imports to Dubai are of around 60% of the total trade value while exports from emirates are 12%. Gold is the largest exported commodity from Dubai to India which accounts half the value, followed by copper wires, polymers and metals.

 To penetrate & showcase the products and expertise, Indian office is important idea for aiding them in targeting the markets. This programme will open the doors for the companies of Dubai to boost their exports further not only in India but also in other neighbor countries. Under the BPP, a firm can file a complaint using Dubai Exports against a supplier from Dubai. Once the evidence gets collected, ccp will make sure the matter is resolved within 10 working days. The programme is aimed for the ease of doing business & efficiency of services provided which differentiates Dubai as a competitive hub.

Dubai Exports has six overseas trade offices in Saudi Arabia, Brazil, Egypt, Germany, Russia apart from India.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Real Estate

Malls & Theme Parks Will Make Dubai A Condominium Hotspot

Dubai, being compelled by its traditional attractions, world class shopping malls & theme parks, is in the top list of destinations for timeshare for Africans as it have the potential to come up as a global hub for holiday ownership having Dh18.35 billion in sales, according to experts.

A leader in timeshare industry, Falcon Holidays says that the expected enactment of the long awaited law for timeshare would be a big flip to the sector. Dubai market is expected to grow strong surmounting the average growth rate of 15 -20 % every year. 2017 will witness around 50% of growth as tourists will visit theme parks & attractions such as Dubai Opera.

theme park

Picture courtesy: i2.cdn.cnn.com

The founder of Falcon Holidays said that Dubai is the top destinations among AFH timeshare owners. UAE government efforts are the reason for strong economic ties with African countries for yielding mutual benefits. The robust role of Dubai is the critical reason behind dynamic UAE African relationship. This is explained when African tourists come here as there are more direct flights and easier visa regulations.

Around 2 lakh visitors from Nigeria visiting Dubai in 2015, AFH is continuing to expand its reach in the country as well as in other nations like Kenya, Ghana, Uganda, Angola, etc. The GCC region, especially the UAE, after the laws of timeshare takes place, will offer a new platform with many opportunities & great growth prospects for the tourism industry.

Timeshare is a model through which several parties own the rights either directly or through a club to use a resort condominium unit at different time periods. The merit being that the cost remains constant over 30 years span while the hospitality price appreciation is market driven.

5% of the total inbound tourism source market goes to Africans. They have the potential to develop the segment which appears attractive to the government to encourage economic ties with the continent. They believe in spending quality time with their family, opting out to buy timeshare, thus promoting the idea of family holiday.

Owners benefit financially by saving thousands, considering the benefits. They are also privileged to experience the high quality services. Dubai has the potential to become the Las Vegas or New Orlando of timeshare.

Las Vegas

Picture courtesy:i.ytimg.com

If 5% of the emirates 100,000 hotel rooms & apartments are converted, then the estimate average sale price for Dh 73,400 for each week’s vacation would result in Dh 18.35 billion in sales.

Get Connected To Us On Social Media:

Facebook: https://www.facebook.com/ownaspace

Twitter: https://twitter.com/ownaspace

Pinterest: https://www.pinterest.com/ownaspace

Google Plus: https://plus.google.com/+OwnASpaceDubai

Website: http://ownaspace.com

Categories: Dubai