Even as global banking institutions and governments continue to battle a slew of market downslides, property prices and demand in the UAE have remained robust. Thursday saw the opening of the 7th R&R Local Property Show at the Crowne Plaza, Dubai and the show has been sold out for months. The official opening was undertaken by His Excellency Shaikh Juma bin Thani Al Maktoum, Head of developer registration section at RERA, Patron of the show and Dr. Salem Al Shafiei, Managing Director of the Dubai Real Estate Institute – Education Partner.
“We are delighted to be working with both RERA as Patron and Dubai Real Estate Institute, Education Partners of the event. It is essential that we all work together in ensuring that consumer interests are protected when purchasing property and that they are being served by real estate professionals all working to a high standard. We value the role our exhibitors play in ensuring they all adhere to these standards and their desire to serve the market in a purely professional manner,” stated Abdulla Al Noaimi, Event Director for DSL Exhibitions.
“Dubai Real Estate Institute’s initiative to participate as Education Sponsors of the event is in line with our conviction that specialisation and training of professionals is an imperative need in today’s competitive global marketplace. The event will allow us to interact with diverse stakeholders to whom we offer our study models. Through our programmes, based on global best practices and developed by prominent international universities, we aim to build capacity among drivers of the real estate industry across the region for moving the sector into its next growth phase,” commented Dr. Salem Al Shafiei, Managing Director of DREI.
As the first consumer focused show of autumn, the show is the only locally focused event showcasing a wide array of local developers and agents from across the UAE. The focused has shifted from being a Dubai driven market to new markets offering consumers affordable housing and investment option; in particular Ajman remains a very popular investment destination
Platinum Sponsor for the event, Chapal World, master developers in Ajman commented:
“Property prices in Ajman have risen by an average of three to five per cent every month for the past two years. When Chapal launched our projects in February 2007 our average property selling price was 300dhs per sq.ft. It is now Dhs 625 to Dhs 650 per sq.ft. In three months’ time, we will bring them to a 700 to 750 Dhs per sq.ft. The property market is still in its primary stages in Ajman. We anticipate that when infrastructure is built and people can see more towers ready for handover Ajman’s secondary market will surge,” said Mr. Khurram Wahid, Director of Chapal.
“Prices are still rising in Ajman and the demand is now increasing. More and more people have realised Ajman is a good and rising investment opportunity. This is good news as we can expect a steady future ahead of us,” commented Ikram Sheikh from Tricon Properties.
“Investor interest in property as a secure investment in troubled economic times is the major factor, as both institutional as well as individual investors still see an opportunity for gains. However, end-user confidence is also contributing significantly to the demand. It is quite clear to the market that real estate prices in the UAE will continue to grow in the medium term as demand shows no immediate signs of outstripping supply. The UAE is unique in that demand for local property has not dried up and sales continue to be strong. The large number of serious buyers we get at our event is testament to this,” said Tessa Morris Marketing Director for DSL Exhibitions, organisers of the event.
R&R, the Local Property Show is the only show dedicated to providing a platform for local real estate-related businesses, including developers, banks, finance providers and mortgage brokers. It has become the destination of choice for both sellers and consumers as the one-stop-property-shop to those wishing to buy in the UAE.
The current show is being held at the Dubai Crowne Plaza, on Thursday 16th, Friday 17th and Saturday 18th of October from 10.00am – 10.00pm. The show will still contain all of its popular elements – weekend show days, free entry, 1000’s of properties for rent and sale, and the popular Property Wall. Admission is free
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About DSL Exhibitions
DSL Exhibitions is an international exhibition and conference company that specialises in organising events in the Middle East. The company’s mission is "to create meeting spaces for buyers and sellers to access new markets and find the best deals” DSL Exhibitions has many brands under which the company organizes its shows to keep up with the complexities of ever-changing markets. Their property exhibitions attract leading international developers, agents, lenders, mortgage brokers, lawyers and investment consultants. Their property events include The R&R Local Property show, The Ajman Property Show and Luxury Property World.
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