20 January 2010 By Danny Bance

Fractional ownership development opening in Spain

A new development set to be launched in Spain will offer homes for sale on a fractional ownership basis.

David Lloyd Resorts is launching a new development at Desert Springs Resort in Almeria next month, giving investors the opportunity to buy four-week shares in apartments and townhouses located on the site.

The company plans to build a network of fractional ownership developments across the world, in countries such as Canada, Thailand, Barbados, Cyprus and Turkey.

Speaking about the proposed development in Spain, Simon Coaker, sales and marketing manager at Desert Springs, said: "David Lloyd Resorts uses this principle to provide individuals with the opportunity to share in, and enjoy, exclusive property ownership that may previously have been unobtainable as a sole investor."

According to Nick Lawrence, sales and marketing director of David Lloyd Resorts, the company plans to sell the properties after ten years, returning the proceeds to the owners in a manner proportionate to their original investment.