Unite Share or “Sukok” is considered to be the legitimate definition of what is called globally timeshare, but with some rules that agree with Islamic Shari’a. The two systems are common in many points, but applying differs a little bit.
Timeshare is about sharing the same property for different time periods and with limited time. Each owner can use the property for a period of time during the year.
Those who promote for timeshare are famous with their deceptive ways, their glamorous promises and inaccurate information that makes customers predict a lot when having a residential unite using timeshare. Part of the time share is known for dishonesty when dealing with customers. So timeshare is associated in minds with no credibility. Although timeshare industry improved a lot recently, and develops the way of presentation, awareness is important, you have to help people not to be a victim to any misinformation trap.
Advantages of Timeshare
Despite all of this, timeshare still considered to be amazing for many people, to owe unites or properties in touristic resorts. In addition, many resorts and hotels developed this system to offer many services, which improved how people see the time share system.
Timeshare contributes in developing the touristic sector, it ensures that both sides will make profit, the company which rent unites over the year, and the client who will save a lot of the trip’s costs, or make a profit through selling or renting it.
Unite Share (Sukok)
Timeshare is not something new, it is an old system used worldwide 30 years ago, but when using this system in Arabic and Islamic world, it should be compatible with the Islamic Shari’a which is considered the main source of legislation in many Arabic countries. So the definition of “Sukok” showed up.
Applying unite share (sukok)
Some drawbacks of timeshare are the main reason of why people were afraid that this system may not compatible with the shari’a. But a lot of scientists agreed that this system allows people to benefit from residential unites with low costs, as long as there are rules control the agreement between both sides and guarantee their rights. This system tends to be flexible somehow; client can sell, rent, or even inherit it, some projects allow exchanging units between different projects owned by the same company. This guarantee profit for both sides, the owner will rent his unites for many clients during the year, and the Suk owner will have the choice to benefit from the services and the low cost of the trips every year, or sell or rent his unite and make profit.