Press Release Details

ARABIAN PROPERTIES 2006 to be launched in Abu Dhabi next April to focus on region's massive property development potential

Publication Date: 7 Nov 2005

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, 2005 at the Abu Dhabi International Exhibition Centre. ARABIAN PROPERTIES 2006 will be organised by ADNEC, (Abu Dhabi National Exhibitions Company) and will have a special emphasis on Abu Dhabi's burgeoning 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 sector, together ARABIAN PROPERTIES 2006 & CONSTRUCT Abu Dhabi 2006 will occupy an area of over 14,500 square metres. ARABIAN PROPERTIES 2006 is expected to attract over 60 exhibitors including local & international property developers, financial institutions and other service providers to the property development industry, participating in the inaugural edition of the show.

 "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 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 with 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 globally 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 prove attractive for property developers from all over the world as well". Earlier this year, the passing of a landmark decree in March by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, 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 can 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 as has been showcased via the massive demand for the first phase of Al Dar's Al Raha project and Sorouh's public issue.

These are just a taste of things to come in the coming years" added the ADNEC spokesperson while commending 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.

--Ends--

For further information:

Ara Fernezian
Project Manager 
CONSTRUCT
 Abu Dhabi 2006
Tel: 009712 4446900 x235
Fax: 009712 4446135
 Email: ara@adnec.ae
Website: http://www.construct-uae.com/

OR Brian Carvalho
 ASDA'A Public Relations
Tel: 009712 6334133
Fax: 009712 6334233
Email: b.carvalho@asdaa.com