International Property Show 2014 opens on buoyant note
The 10th International Property Show, which coincides with the Annual Investment Meeting 2014, opened on Tuesday, 8th April, at the Dubai International Convention and Exhibition Centre (DICEX), with participation of over 300 companies from 80 countries.
The show, the only retail property event at DICEX, attracted hordes of visitors. It comes at a time when Dubai has strengthened its global position as a property hotspot, in terms of return on investment through rents and resale values and clear legislations. The international interest is reflected in the presence of delegations from Russia, China, Europe, USA and Canada. These investors are aware of the potential of Dubai’s real estate sector.
A significant aspect this year is that several new locations have joined the list of real estate hotspots in Dubai; these were not on the radar of investors some time ago, opening new avenues of options. Overall, there is now a greater level of maturity both among developers and buyers/ investors, which augurs well for the sector.”
On Day One, the advanced infrastructure of Dubai that surpasses many modern cities in North America and Europe and parts of Asia, was lauded by participants at the show.
60% of the participants are real estate developers and 40% are from other relevant industries, such as brokerages, Urban Development Authorities, Free Zones, and financial companies amongst others.
Exhibitors have come from Europe, Asia Pacific and North and South-East Africa. These 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.
The show witnessed brisk retail transactions while real estate companies unveiled a series of projects for investors and end users.
Dawood Al Shezawi, CEO, Strategic Marketing & Exhibitions, organizers of the International Property Show, said: “As expected, day one of IPS saw record turnout of visitors and high degree of excitement among exhibitors. Overall, the feeling is that supply and demand in Dubai’s real estate market are well balanced as developers are realistic in releasing new properties and investors are discerning.”
He added: “We had delegations from USA, Canada, China, Russia and other countries which shows that Dubai’s real estate market is an international favourite.”
Supported by Dubai Land Department and sponsored by over 80 media partners, this year’s IPS is the biggest to date, making it one of the leading regional real-estate meeting platform for developers, investors and regional and international companies working in this field.
The participating companies comprise 18% from Hotel & Leisure, 17% from Commercials and Residential (15%), Offices (15%), Retailers (13%), Urban Development Authorities (12%) and Free Zones (10%).
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