Sunday, August 23, 2009

UAE property developers compete to remain on top

Property developers in UAE are in the rush to establish their standing, reveals a report that analyzes PR activities of top eight developers in the UAE and the real estate sector in the UAE media.

The second quarter Real Estate Media Report of Mediastow, the leading media advisory and intelligence agency in the MENA (Middle East North Africa) region analyzed the media coverage of real estate in the UAE market, and the report was issued this week.

Out of the total 3962 articles with 168 titles that were monitored during the second quarter of the year, the report indicates that the real estate developers in the UAE are competing for prominence, said Mohamed Elzubeir, Head of Mediastow.

Trust plays a crucial role in enhancing the positions of these companies, and media is crucial not only in building the trust, but also in sustaining it, he pointed out.

The stocks of Emaar, Aldar Properties and Sorouh were monitored and correlated to the report. Aldar took the lead, followed by Sorouh and then Emaar during the first two weeks of May, although Emaar surpassed Sorouh from then on.

All the three developers reported a rise in the beginning of June, touching the peak during the second week of the month, coupled by the highly positive messages from merger news of these three companies, with a sharp decline on the 9th June.

The report states that Aldar and Sorouh are still trying to grab the opportunity to take over the real estate market leadership in UAE. The second quarter of the year also saw a dip in the margin of positive, yet non-PR coverage for the majority of property developers.

Towards June, there also seems to be a shift in pattern in terms of language penetration, where, several developers have moved on to Arabic coverage than English, the report said.

This has been further aided by the non PR coverage that they have received, mainly from Arabic publications.

On the whole, there seems to be a drop in coverage during the second quarter of 2009, Elzubeir continued.

Property developers should continue to penetrate many powerful, prominent and manifest mentions to continue to hold its solid positive reputation, which would further lead to better stock performance, move investments and higher sales, Elzubeir concluded.

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