Timeshare is a crucial component of the tourism activities. Over the past few years, the demand has increased for using timeshare in real estate units in many countries forcing them to develop and update the regulations governing the handling of this activity.
The timeshare allows the distribution of the costs of construction, furnishing, management, operation and maintenance among more than one beneficiary, in order to ease the cost to beneficiaries (tourists) especially that tourism is no longer limited to high-income earners.
The Government of the Kingdom of Saudi Arabia has allowed timeshare in real estate units to define the responsibilities and obligations of the contracting parties in this system and the sanctions applied to violators of this system. The goal is to protect all parties from abusing the system intentionally or unintentionally.
