Timeshare Consumer Guide
Monthly News Letter

February 2006

Welcome to the February edition of the Timeshare Consumer Guide monthly newsletter. The aim of the newsletter is to provide current information that may be of interest not only to buyers, owners and sellers of timeshare but to the consumer in general. We aim to provide information regarding exchanges, resorts and up to date OTE News and other reliable sources.

IN THIS EDITION

OTE News

Dramatic fall in timeshare Complaints in Spain.

According to official figures, consumer complaints about timeshare in mainland Spain have dropped dramatically. In 2000 some 3,968 timeshare complaints from the public were recorded. The decline began in 2002 when ther were 621 complaints and in 2004 just 81 were logged.

More Opportunities for Paradise Group in Cyprus

Paradise Kings Club in Paphos expects to be 80 per cent sold out by 2008.

Under construction at the moment is the third phase of its first property on the island. The first purpose built timeshare resort on the island  - Paradise Kings Club has opened some 67 units in the first and second phases.

By the end of 2007 the property will have 110 units.

Major Pioneering Projects Launched in Islamic Holy Cities

A British-based company has launched what it terms "unique opportunities" to purchase timeshare and whole-ownership products in the Islamic holy cities of Makkah and Madinah, renowned for their "sacredness, exclusivity and worth". Only Muslims are permitted to enter the cities in Saudi Arabia where land is the most expensive in the world. There are currently 1.5 billion Muslims around the world.

As a result of recent changes in national laws, non-Saudi Muslim residents are permitted to own property in the country.

Alpha 1 Estates are developing in the centre of the two cities – near the sites of The Holy Mosque in Makkah where Muslims direct their five daily prayers to, and the Noble Prophet's Mosque where the Prophet Muhammad is buried.
In Makkeh, the ZamZam Tower project is due to be completed in September. Muslims can buy a Sukouk (Islamic timeshare lease bond) for 24 years, allowing them to spend a periodical part of the year at the tower every year.

Prices start from £3,000 for a studio apartment and extend to £1million for the full lease for the Royal Apartment.

At the Taiba Eastern Tower in Madinah, Muslims can for the first time buy their permanent home overlooking the Prophet’s Mosque.  Clients can purchase an automatically renewable, 99-year lease.
Prices for a two-bedroom apartment start at £300,000.

Land in Makkah has recently sold for £50,000 per square meter and in Madinah for £28,500 per square meter compared with average prices of £20,452 and £10,700 per square meter respectively in central London and New York City.

Fractional Boat Scheme – Steams into Europe

The Royal Phuket Marina Cruising Club  - a fractional boat ownership company in Thailand – it expand its operations into Europe.  A joint venture between Royal Phuket Marina and The Cruising Club International, it currently has franchise operations in Australia, New Zealand, Hong Kong and the USA. The company also has expansion plans for further operations in Asia.

The Cruising Club offers prospective boat owners the opportunity to own an equity percentage of the boat of their choice from a range of luxury power and sail boats without the capital purchase and ongoing maintenance costs that are normally associated with larger vessels by syndicating the ownership and managing the ongoing maintenance of each vessel.                       

Each vessel equity is divided between two, five and up to ten –fourteen owners. This system provides owners with hassle-free boat ownership in state of the art private boats with low entry costs and ongoing maintenance.

Viva Las Vegas

Construction is now underway of a 50-storey development on the infamous Las Vegas Strip.

Planet Hollywood Resort & Casino & Westgate Resorts (the third largest timeshare company in the world with more than 350,000 members) are committed to a joint venture.

The development will comprise of more than 1,200 units, increasing the hotel room inventory for the resort by 2,800 rooms.  Luxury Condominiums; a total of 28, will be included in the top four storeys.

The resort will be directly connected to the Planet Hollywood Resort complex and is due for completion next year.

Westgate Resorts – self styled as “the world’s largest, privately-held timeshare company” – is a subsidiary of Central Florida Investments Inc., which operates and manages timeshare properties in the ‘Sunshine State’.

EYE ON ………  Elite Fuerteventura Club

El Castillo, Caleta De Fuste, Antigua, Fuerteventura 35630, Canary Islands

Details;

Check in/out: Varies 16:00/10:00
Units Max/Priv: 1bed max 4 privacy 2, 2bed max 6 privacy 4
Unit Facilities: Partial kitchen, Microwave all units, telephone all units.
On-site facilities: Auto rental, Child care, Child pool, Grocery, Laundry,
Live entertainment, Playground, Outdoor pool, Restaurant,
Snack bar.
Other facilities: Beach 2km, Exercise Equipment (near by), Games room (near by)
Hairdresser (near by), Health Club (near by), Medical facilities
(near by), Sauna (near by), Scubba diving (near by),
Shopping (near by), Squash (near by), Tennis (near by).
Nearest Airport: Fuerteventura: 8 KM

Resort website: www.eliteclubresorts.com

Located just 1 mile from the beach and just 10 minutes drive from the airport, Elite Fuerteventura Club is undoubtedly Fuerteventura's best holiday ownership resort. Elite Fuerteventura Club is built around a central swimming pool and peaceful gardens. The resort boasts a whole host of facilities including pool bar, restaurant, gymnasium, sauna, squash court, petanque, mini-golf, volleyball, jacuzzi and children's playground. 2004 saw the completion of our Cactus Garden, a haven of peace and tranquillity.
The apartments, a mixture of 1 and 2 bedroom units, all boast satellite TV, microwave, telephone and hifi with CD player. All the apartments are ground floor with terrace or patio and are decorated to the highest standards and well equipped.
The onsite reception is open 24 hours a day and is able to arrange car hire, excursions and money exchange. Should you have any other requests, our reception staff will be sure to go out of their way to help you.

Just 5 minutes away from the resort is the island's only golf course.

Resort prices start from around £6,000 for a 1 bed and £8,000 for a 2 bed.
Resale prices start on average at around £2,000 for a 1 bed and £3,500 for a 2 bed.

Each of the subjects in this publication are based on various facts provided by trusted sources including the OTE.

Editor: David James

Previous Editions:
July 2005 Newsletter
June 2005 Newsletter
August 2005 Newsletter
September 2005 Newsletter
October 2005 Newsletter
November 2005 Newsletter