Show to highlight economical properties
Dubai, February 12, 2009
The International Property Show - Dubai 2009 is set to provide investors with choices to purchase their property units at relatively lower prices.
This focus is in line with a recent market report revealing that real estate prices in Dubai have dropped by 25 per cent in the last six months.
The market report also indicated that the biggest drop in prices has been in the high-end property segment, with average prices down 35 per cent since the peak in September 2008. The downward trend has also hit properties targeting the middle-income bracket in the fourth quarter of 2008, said a statement.
Strategic Marketing and Exhibitions (SME), the organiser of the event, has also revealed that the event will host world-class developers as well as a number of high profile projects nearing completion during its three-day run (February 15 to 17) at the Dubai International Convention and Exhibition Centre.
“The continuous growth of the International Property Show - Dubai 2009 (IPS – Dubai 2009) underlines our commitment towards helping developers grow their business by means of generating international exposure for their world-class projects,” said Dawood Al Shezawi, managing director, SME. “We are also keen on highlighting the investor-friendliness of Dubai in terms of regulatory policies, as exemplified by the presence of the dedicated Real Estate Regulatory Agency (RERA) consultancy zone within the venue, where duly-appointed consultants and lawyers can help investors with their queries.
“In addition, there will also be special pavilion for banks and financial organisations to address customers seeking financial assistance in their investments.”
“Amidst the current challenges brought on by the global financial crisis, we are optimistic that the current situation of the real estate market in Dubai will have positive developments in the future. However, there still exist opportunities within this unique scenario, and this is what we are seeking to provide to investors and end-users who will attend this year’s show. We would like to thank the Real Estate Regulatory Agency for their support for the ‘International Property Show - Dubai 2009’, and we are looking forward to the success of this year’s event,” concluded Al Shezawi.
The property show saw a participation of 35,000 visitors in 2008, reflecting a growth of over 50 per cent compared to its 2007 edition. – TradeArabia News Service