Real Estate & Investment Show to benefit from New Abu Dhabi Property Law
Abu Dhabi is to host the second International Real Estate & Investment Show which is being keenly awaited by the region’s property investors especially with the new Property law issued in Abu Dhabi. Property developers, mortgage banks & financial institutions, legal consultants and other allied property sector players are to showcase their latest projects and offers on the forthcoming International Real Estate & Investment Show 2006 to be held at Abu Dhabi International Exhibition Centre to be held during March 22-25, 2006.
“IREIS is an international event with a regional focus and would offer the region’s property investors and home buyers the best deals available from major property markets across the world under one roof,” says Antoine Georges, Director, Dome Exhibitions who organizes the event. “The Middle Eastern investor’s trend has shifted during the previous years which have seen huge investments in the regional property market. Rapid opening up of many GCC property markets have lured back the Arab Investments mainly from Western countries,” added Mr. Georges.
“The event will be the best sourcing point for property investors with a wide range of properties available at the show along with easy mortgage facilities offered by financial institutions. We are also planning a conference, an expert forum providing insights into new market direction, in time to facilitate the current situation” added Mr. Georges.
Abu Dhabi’s new property law regulating the right to own and transfer real estate for citizens and expatriates will revolutionize the real estate industry paving way to a new economic order. Abu Dhabi’s gradual but decisive step in opening its property market started with Sheikh Khalifa Bin Zayed Al Nahyan allowing nationals to buy and sell properties in early March this year. The new property law, which allows expatriates to invest on long-term surface ownership of 99 years, will take the property market by storm.
With many established property markets marching towards saturation or ‘softening’, developers have been focusing on new emerging markets. This will attract strong investments in developing the capital’s coastline and its natural islands into residential and mixed use properties.
According to industry experts, real estate is once again poised to be on top of the charts in the UAE Stock Market, which has seen unprecedented investment with the initial launching of many real estate IPO’s early this year.