Fractional Ownership News

Tourist arrivals will boost Dubai fractionals

After a rocky 2009, a predicted surge in tourist numbers to Dubai this year could boost the fractional property market there, according to a report in Emirates Business 24/7.

Paul Arnold, principal and transaction real estate advisory services leader, for Ernst & Young's MENA region said the tourism upturn will result in a range f shared ownership real estate products coming to market.

“It is inevitable. In order for Dubai to achieve its visitor forecasts, it will require such innovative products. Similar to Orlando, Dubai is a tourist destination that offers a well-rounded experience for all types of visitors, particularly families. Many visitors from the surrounding region and also further abroad will naturally gravitate towards having a pied-à-terre here in Dubai, whether it be a condo hotel, timeshare or fractional unit. Once the dust settles from the financial crisis and markets begin to recover, these projects will begin to emerge,” said Arnold.

www.business24-7.ae

15/02/10

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