News

Check out market updates

Dubai Property Show ends; favourable outlook for UK

property_020315

Dubai — The UK is an important maket for Middle East real estate investors looking to promote their flagship developments and the Dubai Property Show has just established this fact with its successful conclusion on Sunday.

Shaikh Mohammed bin Maktoum Al Maktoum, first secretary of the UAE Embassy in London, inaugurated the three-day show, which highlighted the investment potential in the Dubai property sector. Exhibitors believe that there is huge potential to attract investors from the UK as the country is coming out of the triple-dip recession.

The Dubai Land Department, or DLD, which attended the show, reported a large number of visitors and investors inquiring about the opportunities to invest in Dubai’s burgeoning real estate market.

“The Dubai Property Show was the perfect opportunity for us to promote Dubai’s environment for real estate investment,” said Sultan Butti bin Mejren, director-general of the DLD.

He said London represents an extremely important market for the DLD through its strong commercial ties to Dubai and the fact that there currently already more than 19,000 British customers who have invested in more than 30,000 real estate units across the emirate.

“Investors from the UK have pumped nearly Dh57 billion into Dubai’s real estate market; a figure that sees them at third place on the list of most investor nationalities by expenditure,” he added.

Deyaar showcased several of its prominent projects in Dubai, including Montrose that is taking shape in Al Barsha South at the extension of Umm Suqeim Road. It also spotlighted its premium project, The Atria, a 1.25 million sqft luxury twin-tower complex, residential and hotel serviced apartments.

“We are confident our presence at the Dubai Property Show in London and our productive interactions with foreign investors at the event will go a long way towards further boosting international investor interest in Dubai’s burgeoning real estate market,” said Mona Al Tamimi, vice-president for marketing and corporate communications at Deyaar.

Rising villa, apartment sales

According to the exhibitors, the strong responses from visitors to the show resulted in real estate developers such as Damac and Dubai Properties selling tens of units and villas on the sidelines of the exhibition.

“The Dubai Property Show was visited by more than 4,000 visitors during its first two days, with the DLD’s stand servicing a high demand from investors for real estate projects in Dubai,” said Sultan Al Suwaidi, partner at Sumansa Exhibitions, organisers of the Dubai Property Show and strategic partner of the DLD.

Rizwan Sajan, chairman of the Danube Group, who is promoting his Danube Properties brand and the Dreamz development, said the UK and expat community have huge potential for the group.

“For most of them, they already have some level of connectivity with Dubai — especially the Asian market — everyone has a friend or family member and love the appeal of the lifestyle. Also being only three hours from India is a huge asset to this audience — they are regular commuters home, and so Dubai makes sense as the interim location,” Sajan said.

The Select Group, which is also the gold sponsor of the show, hosted a seminar entitled “Survival of the Fittest”, whichhighlighted its business agility that allowed it to deliver all projects with consistency.

Hisham Elassaad, head of sales at the Select Group, said Dubai Marina has been a preferred location for UK investors, which was evident in the response the group received for its flagship development The Residences at Marina Gate.

“Day one of the show was very positive and the project attracted exceptional interest. With this venture of introducing our Marina Gate II project before UK audiences, we realised once again our brand’s existing recognition and reputation and look forward to a very successful experience,” Elassaad said.

Source: Khaleej Times ( http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2015/March/uaebusiness_March15.xml&section=uaebusiness )