Tuesday, February 19, 2008

Dubai's International Property Show 2008 kicks-off

Dubai's International Property Show (IPS) 2008 kicked off yesterday, at the Dubai International Exhibition Center, and real estate developers in Dubai expecting multi-billion dollar investments.

Shaikh Hasher Maktoum, the Dubai Director of Information, who inaugurated the event, said "The regional property sector and the IPS have grown by 50 percent this year, which indicates the excellent potential of real estate market in the region. With the event continuing to reflect the real landscape of this industry with huge potential, the show has seen the presence of huge and diverse projects from all over the world, for years."

This year, the event expects to draw in atleast 27,000 visitors and exhibitors from about 200 real estate firms all over the globe.

IPS 2008 is expected to be the biggest in the region, probably due to high boost in investor confidence in the property market, due to the establishment of RERA (Real Estate Regulatory Authority). Few countries like Russia, Panama, Ireland, Iran and Saudi Arabia, will be participating in the event, this year, for the first time.

Hussain Sajwani, the Chairman of Damac Holding, the region's leading private sector real estate developer, said "This is another opportunity for us to display our world-class luxury projects and concepts. This is an opportunity for investors to learn in detail about our projects. This will be the right opportunity for the investors to learn more about the most luxurious real estate projects, such as Marina Bay in Abu Dhabi, Ocean Heights in Dubai, Al Jawharah in Jeddah, Business Heights in Amman or the Hyde Park in Cairo, among other luxurious projects of DAMAC."

The show is expected to conclude on 19th February 2008.

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