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Sama Dubai to exhibit projects at MIPIM Asia

- September 26, 2006, 6:57 pm

Sama Dubai, the international real estate investment and development arm of Dubai Holding, will exhibit its latest development projects at MIPIM Asia, the world’s property market in Asia Pacific, from 27-29 September at the Hong Kong Convention and Exhibition Centre.

After 16 successful years in Cannes, the MIPIM conference and exhibition concept that draws over 17,000 senior decision-makers from 74 countries, is entering the Pan Asian market for the first time this year.

Based in Hong Kong, MIPIM Asia will bring together over 1,200 Pan Asian and international real estate players, including developers, brokers, investors, architects and end users, looking for opportunities within the fast growing region. The exhibition will offer unique networking opportunities with senior industry players and key-decision makers and initiate long-term business partnerships in the property sector.

Farhan Faraidooni, CEO of Sama Dubai, said, ‘Sama Dubai looks forward to the opportunities that MIPIM Asia offers as an ideal forum to share Dubai’s evolutionary real estate achievements with the world. MIPIM Asia is an important component of our strategy to expand our reach beyond the Middle East and pursue development opportunities in international markets that demonstrate high potential for growth.’

Sama Dubai will showcase its diverse portfolio ranging from luxurious resorts to stunning corporate towers, including the 70 million sq ft waterfront project - ‘The Lagoons’; ‘Salam Resort and Spa - Bahrain; ‘Salam Resort and Spa - Yiti’, and ‘Salam Resort and Spa - Shinas’. The US $ 2 Billion ‘Amwaj’ project in Morocco will also be up for viewing at the landmark event.

In addition, Sama Dubai will exhibit its prestigious real estate development US $550 million ‘Dubai Towers - Doha’ under its ‘Dubai Towers’ brand.

Faraidooni said, ‘Sama Dubai is delighted to exhibit in Asia as we are currently looking into building new business opportunities in the region as Asia’s strong economic expansion continues, with growth projected at 7.1% in 2007 according to the Asian Development Bank. Asian investors should consider the Gulf as we have a lot more to offer than just futuristic looking architecture.

‘Strong economic fundamentals with minimal tax burden have attracted major foreign investments especially in Dubai. Also, since Dubai first announced it would allow freehold ownership in 2002, only a small proportion of the freehold commercial property coming on stream has been delivered. This pent up demand shows how much potential there is for Asian investors.’

‘We estimate commercial property prices will rise 50% a year until 2008, having climbed 200% in the last two years. Investment into resorts in the Gulf has also soared making the region as exciting to Asian investors as Asia is to Middle Eastern investors,’ added Faraidooni.

A progressive, dynamic and highly ambitious entity of Dubai Holding, Sama Dubai has well developed plans for global expansion. It is committed to being the largest premium real estate developer in the region, and one of the top five in the world.

Comprising two distinct areas of business, it acquires and partners with premier real estate related businesses globally and manages investments directly or indirectly over the long term. It actively pursues international development opportunities in markets where there is a high potential for real-estate sector growth.

Sama Dubai has developed a broad portfolio of business models. These include mixed use towers, industrial parks, marinas, resorts and spas, self-contained urban development, residential communities, mega malls and business parks.

For more information, visit Sama Dubai stands at MIPIM ASIA - H2-C14/D13.

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Tatweer announces its new CEO Khalid Al Malik

Sama Dubai released details of ‘The Lagoons’

Sheikh Hamdan inaugurated Cityscape Dubai 2006

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