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ARABIAN PROPERTIES 2006 to be
launched in Abu Dhabi next April to focus on region's
massive property development potential - Show will have
special emphasis on Abu Dhabi's burgeoning property
market..
Abu Dhabi, 23 October 2005: The region's massive
property development potential will be showcased at
“ARABIAN PROPERTIES 2006”, a new exhibition and
conference to be held 2-5 April 2006 at the Abu Dhabi
International Exhibition & Conference Centre.
“ARABIAN PROPERTIES 2006” will be organised by ADNEC
(Abu Dhabi National Exhibitions Company) and will have a
special emphasis on Abu Dhabi's growing property market.
The show will take place in parallel with CONSTRUCT Abu
Dhabi 2006 thereby making the two events a powerful
sales, networking and knowledge-gathering platform for
construction industry professionals, property developers
and investors.
"The Arab region is leading the way with property
development projects that surpass the world's best with
their size, scope and investment. With governments
aggressively diversifying their economies, massive
investments are being channelled into diverse sectors
including real-estate. This is therefore an opportune
time to introduce the “ARABIAN PROPERTIES 2006
Exhibition & Conference" to the market," said a
spokesperson for ADNEC.
In keeping with the rapid projected growth of the
property development and construction sectors, “ARABIAN
PROPERTIES 2006” and "CONSTRUCT Abu Dhabi 2006" will
together occupy an area of over 14,500 square metres.
Over 60 exhibitors including; local & international
property developers, financial institutions and other
service providers to the property development industry
are expected to participate in the inaugural edition of
ARABIAN PROPERTIES.
"The construction and property development sectors are
complimentary to each other and the holding of ARABIAN
PROPERTIES 2006 in parallel with CONSTRUCT Abu Dhabi
2006 will ensure that the events emerge as the
definitive industry platform for two sectors which are
proving to be important growth engines for oil-rich
economies in the region".
ADNEC will have DSL Exhibitions, the international
property exhibitions company, as the international
marketing associate for ARABIAN PROPERTIES 2006. "We
look forward to working with DSL Exhibitions in
highlighting the excellent opportunity that ARABIAN
PROPERTIES 2006 provides to property developers in the
region. We are confident that their expertise and
knowledge of the international property market will
prove to be a significant benefit in promoting this
event internationally", said the ADNEC spokesperson. |
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Mike Bridge, Regional Sales Director at DSL Exhibitions, said, "Abu
Dhabi is the next big property market in the region and is attracting
global attention. The market here is seeing billions of dollars of
investment in projects aimed at fulfilling the housing and lifestyle
needs of a rapidly increasing, economically well-off population.
Besides, the projection of Abu Dhabi as a major business and tourism hub
in the coming years will act as a massive boost to the growth of the
property development sector. We look forward to working with ADNEC in
presenting the benefits that ARABIAN PROPERTIES 2006 offers to our
exhibitors".
Mr. Bridge pointed out that the event would also serve as an opportunity
for property developers from all over the world to showcase their
projects located outside the UAE, before a high-profile gathering of
potential visitors in Abu Dhabi. "There have been several instances
recently where investments from Abu Dhabi have been channelled into
prime real-estate opportunities in the west. The high net-worth of a
significant percentage of Abu Dhabi's residents will also prove
attractive for property developers from all over the world ", Mr Bridge
noted.
A landmark decree in March this year allowed UAE nationals the right to
buy and sell land in Abu Dhabi after five years of ownership. The
government also established a land registry system in the Department of
Municipalities & Agriculture. In August, a new property law was issued
whereby foreigners are allowed to buy and sell property in specific
investment areas. The law enables expatriates to own property under a
99-year land title agreement or a renewable 50-year surface area
ownership deal. GCC citizens can own property within designated
investment areas, whereas UAE Nationals (or companies wholly owned by
UAE nationals) can own land anywhere within the emirate of Abu Dhabi.
"Although the property development market in Abu Dhabi is in the early
stages of development, we have already witnessed huge interest in Abu
Dhabi's realty market. This was evident from the impressive demand
generated during the first phase of Al Dar's Al Raha project and
Sorouh's public issue in May. These are just a foretaste of things to
come" added the ADNEC spokesperson. He also commended the emirate's
leadership for their foresight in introducing regulations that have
unlocked the potential in the market.
ARABIAN PROPERTIES 2006 and CONSTRUCT Abu Dhabi 2006 Exhibition &
Conference will be organised under the patronage of His Excellency
Sheikh Hamdan Bin Mubarak Al Nahyan, UAE Minister of Public Works. These
events are supported by the Ministry of Public Works, Municipalities &
Agriculture Department, Social Services & Commercial Building
Department, and the UAE Contractor's Association.
Please contact: ASDA'A Public Relations,
Email: b.carvalho@asdaa.com |
