Dubai Property Investment Show wraps up with hundreds of property sales achieved

With over 7,000 high-profile regional and international visitors, Dubai Property Investment Show has consolidated its position as the leading event for residential property investment in the region. The show concluded on February 3, 2005 on a resounding note with hundreds of Dubai and international properties sold and a number of million dollar deals signed.

Guy Guillemard, Marketing Director of The DOMUS Group said, “The success of International Property Week indicates that the event has filled a real need in the market. Visitors and real estate professionals from across the globe who converged at the show, were delighted with the choice and quality of international and regional projects on offer. Many of these investment opportunities had never been seen before.”

“Dubai is already seen as the driver of growth in the regional real estate industry. This helped the show attract professionals and investors from across the globe. Most of our exhibitors commented on the excellent profile of visitors at the show – serious buyers keen on doing business. This exceptional turnout confirms International Property Week as the leading international event for residential and property investment,” he continued.

Guillemard’s comments were echoed by exhibitors and visitors alike. Fereidoun Sanatti, Vice-President, Operations, Saba Real Estate commented, “The show attracted the right kind of visitors – professionals who were ready to discuss business. We met individual and professional buyers from across the GCC, European and Iran. It was an experience we’re definitely willing to repeat next year.” Saba Real Estate cited deals worth AED 5 million on the first two days of the show.

Sheffield Real Estate sold 70 per cent of the Supreme Residency, where each apartment costs between AED 100,00 and 200,000. Al Tameer Real Estate sold several apartments in the Princess Tower project to agents and private investors from the UK, Saudi Arabia and Russia.

Wally Hart, head of Special Projects at Better Homes said, “We found the show very busy and the quality of visitors was very professional. The Bonnington Towers project received a great deal of interest, as did the Al Fattan Marine Towers and Marine Pinnacle. Al Hamra Village of Ras Al Khaimah also closed over twenty sales.”

Several international exhibitors, seeking a foothold in the thriving Middle East were also pleased with their participation at the show. Dr. Wilfried Hake of BAYERNAREAL, Germany “This was one of the best show experiences we’ve had anywhere. It was well-organised, we made good contacts and have set up meetings to discuss further negotiations. We already sold nearly Euro 1 million worth and if our negotiations work out there may be up to Euro 10 million in store, as a result of the Show.”

From Perth, Australia, Wayne Briggs and Janine Thomas said, “We did business worth approximately US$ 33 million for our Condor Tower project, Perth’s Tallest Residential Tower. Dubai’s real estate industry is thriving and seems to hold the key for further growth in the region.”

Lloyd Johns of Lifestyles of New Zealand commented, “We chose the show as the launch pad for Lifestyles, as Dubai is a sophisticated market for property investment. We are delighted with the response especially from UAE nationals, and are in negotiations for our golf course project costing US$ 15 million dollars.”

Alongside the show was the ‘Property Forum’ of free seminars for private and professional investors and the MEED Real Estate Conference, addressed by prominent members of the international real estate industry. “The response to the seminars was very encouraging. Visitors were keen to learn about the challenges of property investment and management from experienced professionals. Overall we can say both exhibitors and visitors told us International Property Week had really exceeded their expectations.” added Dawood Al-Shezawi, Chairman, Strategic Marketing, The DOMUS Group’s partner for the show.

The 2006 Dubai Property Investment Show will take place between 21 and 23 February, 2006.

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