Friday, June 08, 2007

UAE property market touches Dh.845bn

The realty developments value at UAE that are currently under construction has touched Dh.845 billion, equivalent to one-thirds of total of Middle East

The Chairman of Aldar Properties, Ahmad A. Sayegh, while speaking during the inaugural of Citi Asia Pacific Property Conference at Singapore, has requested investors to take Abu Dhabi also into consideration, as an investment destination, pointing out to the strong demand in three main segments - office, residential and hospitality.

According to Al Sayegh, more than 70 percent of UAE's wealth and more than 65 percent of GDP have been contributed by Abu Dhabi, and the overall population of the emirate had also grown by 75 percent during the last decade.

The two-day conference brought together developers, promoters and net worthy investors from United States, Europe, Middle East and Asia Pacific for discussion regarding investment options in the property sector.

These discussions mainly aim to draw attention to the diversity and depth of the real estate market about the fastest growing economies in the world.

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