Mohammed bin Rashid issues law regulating timeshare industry in Dubai
In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Law No. (14) of 2020 regulating the timeshare industry in Dubai. The new legislation is part of the government’s efforts to enhance the legal framework required for the continued growth of Dubai’s various economic sectors, including tourism.
The Law, which 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 Law also seeks to regulate the timeshare industry in Dubai according to international best practices.