UAE moves up in built asset rankings
Dubai, September 22, 2013
Along with Singapore and Brazil, the UAE is poised for a solid two per cent jump in the global built asset rankings over the coming decade taking the country up two places to 23rd position, said an expert.
When it comes to built asset wealth per person, the UAE comes 12th in the global rankings, with an estimated built asset wealth of $122,809 per person, while Saudi Arabia is in the 15th place with $72,861, revealed Tanzeel Gader, the CEO of Flash Properties, a leading regional real estate company, citing the recent findings of the Global Built Asset Wealth Index.
The Index, which quantifies the accumulated wealth of 30 countries’ built assets, is conducted by EC Harris in conjunction with the Centre for Economic and Business Research.
The rankings were highlighted by Flash Properties during a press conference to announce its participation at the Cityscape Global, the largest and most influential international real estate event in the region to be held from October 8 to 10 at the Dubai World Trade Centre.
"The recent findings of Global Built Asset Wealth Index by analyzing the accumulated wealth of 30 countries’ built assets – encompassing all the property and infrastructure that contributes to economic productivity – is a true indicator of the great potential of the UAE’s real estate market," remarked Gader.
According to him, the country is investing aggressively in its built environment and this opens the door wide for more sustained growth of the real estate market.
"With more than Dh5.5 billion ($1.49 billion) worth of transactions recorded by the current Dubai real estate market, is appears that 2013 will be the year of revival for real estate industry, on the back of renewed confidence of global and regional investors,” stated Gader.
According to him, Flash will be displaying projects that are generating significant interest from investors and consolidating the UAE real estate market’s standing as one of the dominant players globally.
A firm with over 100 employees, Flash Properties is a well established real estate company based in Dubai. The company provides a wide range of real estate strategies and solutions in freehold, residential and commercial sector across the UAE.
“Flash Properties is a full-fledged RERA compliant broker. Our rapid growth and success has made us as one of the leading brokers in Dubai real estate market. We strive to build long-term relationship with our clients based on strong principles of trust, respect and integrity,” he added.-TradeArabia News Service