Total investments into Dubai real estate sector cross AED 58 billion during Q4 2008
‘International Property Show - Dubai 2009’ to witness extensive participation from international exhibitors
January 28, 2009
Total investments in Dubai’s real estate sector have crossed AED 58 billion during the last quarter of 2008, representing a drop in comparison to the previous quarter of 2008, according to REIDIN.com. The statistics reflect the current economic downturn, which has affected the property and real estate market in the region. However, this has also created opportunities for regional and global investors to benefit from, which augurs well for the upcoming International Property Show - Dubai 2009, the biggest transactional property exhibition in the region. Strategic Marketing and Exhibitions, the organisers of the exhibition, has announced that the event will witness active participation from international players during its three-day run. In addition to the strong international delegations, the organiser is also anticipating the participation of leading regional and local developers at the show, which is slated to run from February 15 - 17, 2009 at the Dubai International Convention and Exhibition Centre.
Amidst the implications of the global financial meltdown, Dubai is still regarded as one of the fastest-developing economies in the world and as a gateway to other regional and international markets. The emirate, in addition to the rest of the UAE, provides a diversified business climate that offers vast opportunities for growth of international investors, facilitating easy access to 3 billion consumers situated in the greater Middle East, North Africa and South-east Asia regions. The ‘International Property Show - Dubai 2009’ is expected to leverage the country’s strategic geographic and economic position to provide high net-worth individuals, global and regional developers and other players within the global property market an effective venue for high-impact networking and transactional activities amidst the challenges posed by the present the economic turmoil.
“The trust of the international real estate community in the Dubai market is underlined by the exceptional interest of developers as well as investors to venture into the emirate, despite the current challenges brought about by the global credit crisis,” said Dawood Al Shezawi, Managing Director, Strategic Marketing and Exhibitions. “The impressive presence of companies from across the globe at the upcoming ‘International Property Show - Dubai 2009’ is a clear indication of the pull that Dubai has among foreign players, and we are proud to provide an effective platform where they can meet their global counterparts and explore further growth opportunities.”
Among the global real estate companies who have confirmed their participation at the event are high profile companies from the UK, including Florida Choice Realty Services, Crown Acquisitions Worldwide PLC, Estateman Limited, Capital Land Acquisitions Ltd. and Harlequin Hotels and Resorts; as well as KW Luxury Homes, Stonehenge Builders Inc. and Rapid USA Visas from the US. In addition, international delegations from Malaysia, Spain, Thailand, South Africa, Bulgaria, Korea and Cyprus are also set for to participate at the show. These include ‘The Two Villas Group’, ‘Railand Real Estate Co., Ltd’., ‘Occidental Residential Costa Del Sol SL’, ‘Oasis Land Development Ltd’., ‘Putrajaya Holding Sdn Bhd’, ‘St. James Capital Investments Pty. Ltd’., ‘Ocean Worldwide’, ‘Life and Living Developers’, ‘Pafilia Property Developers’, ‘Idea Building, K & K Tourism’,’ Veko Group’, ‘Promotora Golf Fain SL’, ‘Terra Tour Service Ltd’, ‘Aristo Developer’s, ‘Leptos Estates’, ‘Balkanstroy Properties’, ‘Platinum Investment Group Ltd’, ‘DSECO FZC’ and ‘DSEC International DMCC’.
“The strong support of the UAE Government to the real estate and property market and the proactive steps it is currently taking to lessen the impact of the global credit crunch are nothing short of commendable, and are resulting in investor’s increasing confidence in the Emirates. Based on our considerable experience in operating within the regional property market, we are encouraging investors to buy properties now amidst the unique opportunities the current economic condition has brought to the market. In line with this, we are inviting everyone to look into the wide array of property investment options within the event venue, and we hope that they find the suitable property that meets their requirements,” concluded Al Shezawi.