His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has issued a new law which regulates the timeshare industry in the emirate.
Law No. (14) of 2020 is the latest effort from the government to enhance Dubai’s legal frameworks across various sectors, including tourism.
According to state-news agency WAM, “the law provides a clear legal context for timeshare business activity, aims to further stimulate tourism and real estate sector growth in Dubai, encourage investments in the vacation ownership sector, provide adequate residential alternatives for tourists and visitors, and protect the rights of all parties in the industry.“
The timeshare industry will be overseen by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism), who will develop new terms and conditions, as well as technical standards for timeshare facilities to obtain permits and approvals.
Dubai Tourism will also be responsible for inspections and investigating complaints pertaining to the timeshare industry.
It will also establish a comprehensive database of all timeshare facilities in the emirate, and issue timeshare permits valid for one year.
The law annuls any other legislation that contradicts or challenges its articles. The new Law will be published in the Official Gazette and is effective within six months of the date of its publication, stated WAM.
Law No. (14) of 2020 is the latest tourism development announced this month by the Dubai Ruler. Earlier in December, His Highness approved the UAE Strategy for Domestic Tourism, aimed to develop a scheme to regulate the local tourism sector across the entire country.
He said: “Domestic tourism spending in the UAE stands at AED41 billion. With a solid federal collaboration, we can double the contributions of the domestic market and create new opportunities for the small business industries across the country.”
He added “working as one team in the tourism sector will bring long-term benefits to every part of the UAE and boost our status globally as a single destination that offers rich and diverse experiences.”