Over fifty UAE developers outline extensive participation at ‘International Property Show Moscow 2008’
Local developers eye fast-growing Russian market for their projects amidst global financial crisis
Over fifty UAE-based developers will outline their extensive participation at the first ‘International Property Show Moscow 2008’, the biggest international investment exhibition in Russia, which is slated to run from November 10 - 12, 2008 at Hall 1 of Crocus Expo International Exhibition Centre in the Russian capital. Among the leading developers who have confirmed their participation include Damac Properties, Azizi Investments, Lootah Network Real Estate, Estate 400, The First Group, Aryene Properties, Cobalt Real Estate, The One Real Estate, My Dream Real Estate, Go Wealthy, Elite Dome Real Estate, Aspire Real Estate, Oriental Real Estate Broker, Asia Star Properties, Sobha Real Estate and Kayan Investment.
In light of the recent global financial crisis, Russia has been deeply impacted and yet the Russian Government has been quicker in responding to the crisis, with Government guarantees on the interbank market and other similar measures expected to reaffirm market concerns. Furthermore, representatives from the leading developers have also revealed that they will be showcasing their respective portfolio of projects based in the UAE at the event, with the aim of drawing in Russian-based investors to the Emirates.
“Russia’s financial market and the economy as a whole have demonstrated considerable resilience in recent years, in spite of the global financial turmoil. This has been a major factor that is driving investors to Russia, especially in the property sector, which is evident by the major response to IPS Moscow 2008,” said Dawood Al Shezawi, Managing Director, Strategic Marketing & Exhibitions.
“The show carries tremendous potential to help developers from the UAE and all over the world and to discover the opportunities available in Russia. The event provides a venue where exhibitors can network with major partners who can boost their plans of venturing into this thriving market. It is also a viable platform for marketing their UAE-based projects, given the outstanding appeal of the UAE to Russian investors,” added Al Shezawi.
Set to gather over 100 exhibitors and up to 15,000 trade visitors within a total exhibition area of 4,730 sq. m., the ‘International Property Show Moscow 2008’ will feature prime real estate projects from around the world and is expected to attract high net-worth individuals, commercial and residential investors and specialised visitors from Russia and globally. In addition, the event is also set to showcase a full spectrum of services in commercial, residential and holiday properties, as well as industrial projects.
“Venturing into new and promising markets is the driving force behind Azizi Investments’ success in the region, and our presence at the first edition of ‘International Property Show Moscow’ is in line with our mission to build a global repute for highly innovative property developments within the most sought-after locations. We consider Russia as a key market, wherein we can leverage our extensive experience in the Gulf to offer unique property investments, through building our own projects in Russia and providing attractive investment options to Russian-based investors,” concluded Farhad Azizi, Chairman, Azizi Investments.
The International Property Show Moscow 2008 is set to feature a host of global developers including St Chara Devopers Ltd (Cyprus), Integro Invest (Russia), Portagrande (Portugal), Alliances Development (Morocco), Orascom Development (Egypt), Tekton (Greece), Conjuntos Residenciales (Spain), Railand Real Estate (Thailand), Italgest Group International Real (Italy), and Mont - Real (Montenegro) amongst others, who are seeking to target investors through the platform the exhibition will provide them with. In addition, IPS Moscow 2008 will showcase country pavilions, namely - Bulgaria and North Cyprus.
