Burooj investment will soar to $13.5bn
Dubai, October 14, 2007
Burooj Properties, a leading real estate company in the region, plans to increase its total investment in the UAE to Dh50 billion ($13.5 billion) by 2010.
The company will unveil its plans at Cityscape Dubai 2007.
“In light of the continuous poor equity market returns of the different stock markets in the region, the real estate industry has the gleam of a safe investment, without the tarnish that other asset classes may bring. The recent slow down of stock markets has served in reminding investors of the dangers of being overweight in equities and has renewed interest in the region's property sector which is realizing excellent returns on investment,” said Adel Al Zarouni, managing director, Burooj Properties.
“The region's continuous real estate boom stems from the fact that direct investment through real estate funds can be an ideal building block for enhancing and safeguarding the assets of any investor's portfolio. They are particularly beneficial to investors who are heavily concentrated in highly market sensitive asset classes, and are therefore a lucrative way of diversifying a portfolio.”
Burooj Properties will demonstrate at the three-day event that will be held from October 16-18, 2007 at Dubai International Exhibition Centre its wide range of services including project management, project and property valuation, property management and real estate investments.
“Our participation at Cityscape Dubai 2007 aims at raising awareness amongst our customers and peers about the wide range of quality services we offer. At the exhibition, visitors will gain a broader perspective about our services,” Al Zarouni added.
“We will be working hard to demonstrate the added value we bring to the customer as a result of the company's high level of credibility and innovation. We believe that credibility and innovation will drive competition in this rapidly growing real estate sector and we are well prepared to compete at this level.”
Ahmed Al Sakban, head of sales and marketing, said: “The show will provide an opportunity to demonstrate our expertise, commitment and capabilities regionally. Burooj Properties is committed to the country’s economic growth through our solid understanding of its business needs and growth opportunities.”
Al Sakban added: “Traditional markets like USA, Australia and Europe are no longer attractive markets to international investors who are shifting their sights into emerging markets like the Gulf. We will be announcing in October a mega project that will meet the growing needs of the modern family, featuring a variety of housing opportunities and world-class facilities.”
Al Zarouni concluded: "Primarily, we will be using Cityscape to spread awareness amongst individual and corporate investors on the importance of attaining a highly credible and reliable service in such a competitive market as the Gulf.” – TradeArabia News Service