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ARABIAN PROPERTIES 2006 in Abu Dhabi next April
- November 28, 2005, 12:16 pm
The region’s massive property development potential will be showcased at ‘ARABIAN PROPERTIES 2006′, a new exhibition and conference to be held 2-5 April 2006 at the Abu Dhabi International Exhibition & Conference Centre.
‘ARABIAN PROPERTIES 2006′ will be organised by ADNEC (Abu Dhabi National Exhibitions Company) and will have a special emphasis on Abu Dhabi’s growing property market. The show will take place in parallel with CONSTRUCT Abu Dhabi 2006 thereby making the two events a powerful sales, networking and knowledge-gathering platform for construction industry professionals, property developers and investors.
“The Arab region is leading the way with property development projects that surpass the world’s best with their size, scope and investment. With governments aggressively diversifying their economies, massive investments are being channelled into diverse sectors including real-estate. This is therefore an opportune time to introduce the ‘ARABIAN PROPERTIES 2006 Exhibition & Conference” to the market,” said a spokesperson for ADNEC.
In keeping with the rapid projected growth of the property development and construction sectors, ‘ARABIAN PROPERTIES 2006′ and “CONSTRUCT Abu Dhabi 2006″ will together occupy an area of over 14,500 square metres. Over 60 exhibitors including; local & international property developers, financial institutions and other service providers to the property development industry are expected to participate in the inaugural edition of ARABIAN PROPERTIES.
“The construction and property development sectors are complimentary to each other and the holding of ARABIAN PROPERTIES 2006 in parallel with CONSTRUCT Abu Dhabi 2006 will ensure that the events emerge as the definitive industry platform for two sectors which are proving to be important growth engines for oil-rich economies in the region”.
ADNEC will have DSL Exhibitions, the international property exhibitions company, as the international marketing associate for ARABIAN PROPERTIES 2006. “We look forward to working with DSL Exhibitions in highlighting the excellent opportunity that ARABIAN PROPERTIES 2006 provides to property developers in the region. We are confident that their expertise and knowledge of the international property market will prove to be a significant benefit in promoting this event internationally”, said the ADNEC spokesperson.
Mike Bridge, Regional Sales Director at DSL Exhibitions, said, “Abu Dhabi is the next big property market in the region and is attracting global attention. The market here is seeing billions of dollars of investment in projects aimed at fulfilling the housing and lifestyle needs of a rapidly increasing, economically well-off population. Besides, the projection of Abu Dhabi as a major business and tourism hub in the coming years will act as a massive boost to the growth of the property development sector. We look forward to working with ADNEC in presenting the benefits that ARABIAN PROPERTIES 2006 offers to our exhibitors”.
Mr. Bridge pointed out that the event would also serve as an opportunity for property developers from all over the world to showcase their projects located outside the UAE, before a high-profile gathering of potential visitors in Abu Dhabi. “There have been several instances recently where investments from Abu Dhabi have been channelled into prime real-estate opportunities in the west. The high net-worth of a significant percentage of Abu Dhabi’s residents will also prove attractive for property developers from all over the world “, Mr Bridge noted.
A landmark decree in March this year allowed UAE nationals the right to buy and sell land in Abu Dhabi after five years of ownership. The government also established a land registry system in the Department of Municipalities & Agriculture. In August, a new property law was issued whereby foreigners are allowed to buy and sell property in specific investment areas. The law enables expatriates to own property under a 99-year land title agreement or a renewable 50-year surface area ownership deal. GCC citizens can own property within designated investment areas, whereas UAE Nationals (or companies wholly owned by UAE nationals) can own land anywhere within the emirate of Abu Dhabi.
“Although the property development market in Abu Dhabi is in the early stages of development, we have already witnessed huge interest in Abu Dhabi’s realty market. This was evident from the impressive demand generated during the first phase of Al Dar’s Al Raha project and Sorouh’s public issue in May. These are just a foretaste of things to come” added the ADNEC spokesperson. He also commended the emirate’s leadership for their foresight in introducing regulations that have unlocked the potential in the market.
ARABIAN PROPERTIES 2006 and CONSTRUCT Abu Dhabi 2006 Exhibition & Conference will be organised under the patronage of His Excellency Sheikh Hamdan Bin Mubarak Al Nahyan, UAE Minister of Public Works. These events are supported by the Ministry of Public Works, Municipalities & Agriculture Department, Social Services & Commercial Building Department, and the UAE Contractor’s Association.
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