Realizing the growing popularity of timeshare, condominiums and fractional ownerships (3-4 people buy a bungalow/residential holiday home together); Panoramic has forayed into this lucrative business with plans to promote several of its upcoming properties in the timeshare concept.
The company is also considering entering into affiliations with large, timeshare vacation networks, thereby giving a major boost to its proposed timeshare business.
A timeshare is a property, or the right to use a property, in a chain of hotels / clubs / vacation homes / resort condominium units, for a fixed period each year. Owners enjoy multiple benefits, such as renting out, gifting, exchanging within resort group or through international exchange companies such as Resort Condominiums International (RCI).
Timeshare owners pay for their unit and also share maintenance fees and costs to upkeep common areas such as swimming pools, tennis courts, gymnasiums etc. Plus, importantly, the ownership of the property rests with the developer who can enjoy the upswing in prices prevailing in the real estate market.
For more information on Panoramic's timeshare business plans, please look up our