59% of
total GCC property owners are from Kuwait:
Kuwaitis were
biggest property owners in UAE, with 6,947 properties at the end of 2012, says
International Property Show 2015
11th
IPS to attach major importance to Kuwaiti visitors during the three day
exhibition
Kuwait, Kuwait, 5th November 2014:
Being only 90 minutes’ flight away from Kuwait, Dubai is an ideal location for
a second home, or even a primary home, for some Kuwaitis. No wonder, Kuwaitis
are one of the biggest investors in Dubai’s real-estate sector, compared to
other GCC countries.
According to figures released by
International Property Show (IPS) 2015, which will be held from 30 March
– 1 April 2015, and UAE Ministry of Finance, GCC ownership in
the UAE amounted to 11,761 properties in 2012, an increase of 8%over 2011.
In fact, the largest share of the total
property ownerships was taken up by Kuwaiti citizens, with a total 6,947 properties
by the end of 2012, representing a whopping 59% of the total GCC property
ownerships.
Dawood Al Shezawi, CEO, Strategic
Marketing & Exhibitions, organizers of IPS 2015, said: “UAE continues to
maintain its lead position as a hot property destination among GCC countries
since 2008. At IPS, we are working hard to attract as many Gulf visitors as
possible to our show and specifically Kuwaiti visitors.”
He added: “In 2011, investors from Kuwait
account for nearly 60% of all properties purchased by GCC nationals in the
emirate of Dubai, according to figures from the UAE Ministry of Finance. The
picture is still the same and the Kuwaiti investors and purchasers remain the
biggest chunk of buyers in the UAE property market.”
IPS 2015 will attract companies from
Kuwait, especially those with serious potential for partnerships in property industry
in the Emirate. “What is more interesting about Kuwaitis is their quick
decision making in buying properties in the UAE due to their confidence in the
UAE property market and due to the factor of proximity. Thanks to their high
spending power, many tend to buy multiple units as vacation homes.
Dubai's real estate market is now more
stable and sustainable, which had improved confidence mainly among GCC
investors. “The UAE and Kuwaiti construction sectors are linked in several ways,
being two leading markets in the Middle East region,” said Al Shezawi.
“We are expecting high footfall from
Kuwaiti visitors who wish to conduct one-to-one meetings with IPS exhibitors
and grab offerings at the three day show,” added Al Shezawi.
IPS has registered to date participations
from 120 countries, reflecting an increase by 33.3% compared to the
previous edition. The show will witness wide participation from the Gulf region
out of the 300 total exhibitors.
Exhibitors are coming from all over Europe, North America, Asia
Pacific and North and South-East Africa. These will include developers involved
in the development of residential communities and high-rise buildings,
entertainment facilities, retail outlets, financial institutions, banks and
investment companies, pension funds, asset management companies, authorities,
investment zones and engineers of construction and interior design.
Strategic Marketing & Exhibitions is the organizer of IPS. The
company is a leading exhibition and conference organiser
in the UAE, based in Dubai that has grown dramatically and contributed
immensely to the exhibition industry, thus gaining reputation as one of the
leading experts in all aspects related to the exhibition industry.
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