Dubai’s Department of Economy and Tourism (DET) has launched an online portal that offers a ‘One-Stop-Shop’ for timeshare operators to register and apply for permits and provide guidance to customers and tourists.
The Timeshare Portal supports the legal framework created by Dubai’s new Timeshare Law. The portal created by DET by collaborating with partners enables potential operators to register and submit their applications for timeshare properties, obtain a permit as a licensed timeshare operator, and renew these permits every year.
A timeshare is a shared ownership model of vacation real estate in which multiple investors jointly own a property with each owner allocated a specific length of time to use the unit, typically in one-week increments. The timeshare model can be applied to many different types of hotel properties, such as vacation resorts, villas and apartments.
The new portal offers various benefits to the tourism ecosystem, thus boosting investor confidence in the city and its real estate and hotel offerings. It will also accelerate the approval process and offer guidance and easy access to the information sought by investors, owners and operators, as well as tourists who wish to use timeshare during their visit to Dubai.
The Timeshare Portal aims to establish a better business environment and seamless experience for all parties and ensure customers are protected. The easily accessible online portal seeks to further stimulate and encourage investments in the vacation ownership sector.
The portal is primarily driven by a partnership between DET and Dubai Land Department (DLD), supported by continuous coordination with Dubai International Financial Centre (DIFC).
“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 a 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.”
The Timeshare Law, which regulates the timeshare industry, aims to protect the rights of all parties and stimulate further growth across the hospitality, tourism and real estate sectors. In accordance with the Law, DET in collaboration with DLD and DIFC maintains a database of property brokers, developers, establishments and operators. This enables DET to supervise and inspect all facilities to determine and manage all contractual terms and disputes.
DET also regulates timeshare contracts and handles grievances and complaints against any individual or entity involved in timeshare activities in Dubai without obtaining the required permits. An important provision of the law is that all new timeshare properties will only be designated as part of new or existing hotel rooms, while all legacy operators will be permitted to continue operations.