Raju Shahani

'Worldwide the pattern of timeshare development has been very consistent,' says RCI General Manager Raju Shahani. 'First there is a gold rush with everyone interested, then scam operators ruin it, and finally legislation is put in place and it becomes a great industry.'

To step back a moment for those who do not understand the timeshare concept as RCI delivers it. Basically holidaymakers buy a futures contract to buy a particular unit of accommodation at a fixed price at a certain time of the year for typically 25-30 years.

This approach has proven popular with Middle Class families all over the world, allowing them to budget for accommodation costs in a very practical manner, sometimes making a large capital gain in the process.

'In India RCI has expanded five-fold in three years and timeshare is no longer a dirty word. But things will be different in Dubai as we will be working with IFA on their major projects on The Palm, Jumeirah.

'We also intend to tie-up with a local insurance company to offer a completely safe investment opportunity. And we would welcome UAE consumer protection legislation in our industry and will work with the authorities on this.'

There is no doubt that RCI is the acceptable face of timeshare development, with some 16,000 members already in the Middle East and 3,700 resorts worldwide. Its business is in the exchange of timeshare units. The actual units are bought directly from developers like IFA which also manage and maintain the property.

'Where RCI has a role is when you have been on vacation in your Dubai timeshare for three years in a row and want to swap for a timeshare unit in the US or Europe. We arrange everything,' explains Mr. Shahani.

'It is important to realize that buying a timeshare is like booking a hotel room for 25 to 30 years. Indeed, developers like IFA are offering a five-star resort complex and offer timeshare units alongside a hotel. Arriving at a timeshare unit should feel no different to booking into a hotel, everything is ready.'

The upcoming resort on The Palm, Jumeirah will thus comprise a 300-bedroom, five-star hotel and 460 timeshare units, or 22,000 timeshare weeks which will be launched later this year for sale over six to eight years.

It is hard to imagine that blue-chip timeshare companies like RCA and developers like IFA will not get a good reception. Indeed, given the novelty of the product in Dubai, and the exceptional attractions of Dubai as a destination, a sell-out could be in prospect.