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Reading: Bahrain is getting ready to introduce a new law for the launch of timeshare holiday model.
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Gulf Press > Uncategorized > Bahrain is getting ready to introduce a new law for the launch of timeshare holiday model.
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Bahrain is getting ready to introduce a new law for the launch of timeshare holiday model.

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Last updated: 2024/11/07 at 6:09 PM
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Bahrain is on the verge of offering Timeshare holiday options, where multiple people can own the right to use a holiday home for set periods. The Shura Council is set to vote on a new law on Sunday in an effort to make holiday ownership safe and straightforward for visitors and property owners. The proposed law aims to align Bahrain’s Timeshare offerings with international standards, making the country more attractive to visitors and investors to strengthen the tourism sector.

The Services Committee, led by Jameela Al Salman, has endorsed the draft law as a way to boost visitor confidence and fill holiday units in Bahrain. The law will cover important areas such as licensing, contracts, inspections, judicial oversight, consumer rights, and criminal liability. It will also introduce key features like a cooling-off period for buyers, clear advertising standards, and inheritance rights for families.

Support for the new Timeshare law has been strong from organizations like the Bahrain Chamber of Commerce and Industry, the Ministry of Tourism, and the Bahrain Tourism and Exhibitions Authority. These entities see Timeshare as a way to diversify holiday options and increase occupancy in the tourism sector. Timeshare arrangements provide an alternative to traditional accommodation and offer new income opportunities for businesses in the tourism industry.

The Survey and Land Registration Bureau and the Real Estate Regulatory Authority have also expressed support for the law, agreeing that a clear framework will protect buyers and provide stability in the market. The Services Committee has suggested amendments to the draft, including references to Bahrain’s Civil and Commercial Procedures Act and standardizing terms for consistency. One amendment requires the submission of all necessary documents for licensing to avoid any ambiguity.

The draft law will be presented to the Shura Council on Sunday for review of the committee’s recommendations. If approved, the law will establish a Timeshare system that meets international standards, ensuring consumer rights and building confidence in Bahrain’s tourism and property sectors. The move towards offering Timeshare holiday options represents a step towards expanding holiday choices for visitors and investors in Bahrain.

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News Room November 7, 2024
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