By now, we’ve all heard about the Palm Island in Dubai. Arabian Falcon Holidays handles the development and marketing of the over-the-top island on behalf of the Emir of Dubai. Now that the island has been open for almost a year, investors and vacationers alike can be suckered into buying timeshares.
For those who still aren’t familiar, the Palm Island is Dubai’s attempt to become a major tourist destination. The Emir ordered that a whole new island be built in the shape of a palm. Aside from the ecological ramifications, the cost of raising a palm tree-shaped island out of the sea ensures that Palm Island homes and timeshares are priced beyond expensive. The idea is to cater to the rich and famous. Now that Royal Club on the Palm is ready for timeshare sales, Arabian Falcon Holidays is hoping to do a lot of catering.
It is surprising, then, that the way in which new sales leads are generated is by telemarketing and booths at your local mall. Either Arabian Falcon doesn’t know where to find rich and famous people to sell timeshares to, or they just want to unload them on whoever is gullible enough to buy a timeshare on an artificial island that might or might not last for a couple of decades.
If that doesn’t already have you scratching your head, get this: there are rumors Dubai is planning on building more Palm Islands. At the least, that would devalue any timeshare purchased by creating a glut of condominiums and timeshares. At the worst, the chairman of Arabian Falcon, Al Mohonnad Sharafuddin, might be serious when he says that he thinks Dubai will be the next Florida. Imagine the problems of Florida timeshares, but without a Disney World, an Everglades, or anywhere close to as many beaches to draw tourists.
Sure, you can go ahead and buy a timeshare at the Royal Club on the Palm. But don’t say you weren’t warned.