The Dubai Land Department (DLD), is set to organise a three-day sales and purchase event at the Dubai World Trade Centre from April 9 to 11, to further stimulate the emirate’s buoyant real estate sector.

The Dubai Property Festival (DPF) is expected to generate considerable buying and selling activity by hundreds of participants including property developers, brokers, lenders, mortgage providers, investors and home buyers.

The three-day show coincides with a series of events in Dubai aimed at attracting global investment to the UAE, said the organisers.

Unveiling the details, Sultan Butti bin Mejren, the director-general of DLD, said: "This festival initiative is in co-operation with the "International Property Show," and part of our ongoing efforts to support the real estate sector and provide an ideal environment for all relevant parties."

With DLD playing a vital role in the reshaping of Dubai's real estate sector, it is their duty to ensure that growth and prosperity continue in this sector and helps more buyers, investors and tenants to benefit from overall economic growth, as well as contribute to the activity of economy, stated Mejren.

"We are confident that with this festival and beyond, the real estate sector will continue to grow and contribute to strengthening our economy," he added.

Majida Ali Rashid, the assistant director-general and head of the Real Estate Investment Management and Promotion Centre, the investment arm of DLD, said: "We are delighted to launch DPF that will showcase Dubai as one of the top real estate investment destinations in the world. The festival will provide an excellent opportunity for investors, developers and buyers for strategic networking and do business in a safe and secure environment."

"The Real Estate Investment Management and Promotion Centre seeks to encourage investor confidence in the real estate market, attract investments to the Dubai real estate market and launch a variety of initiatives for investors," observed Rashid.

"For example, our latest initiative was signing an agreement with a real estate brokerage office in China to promote the real estate sector in Dubai that will reach more than 1,000 Chinese real estate brokers, with the aim of promoting Chinese investment in the real estate sector in Dubai. Recently, we have also signed a similar agreement with a company in India," she said.

Dawood Al Shezawi, the head of DPF Organising Committee, said the upcoming festival will be a game-changing initiative that will help a large number of tenants turns owners of Dubai homes.

"On an average, a Dubai tenant can own his home by spending eight years of rental expenses on his property instead of paying them to a landlord," explained Al Shezawi.

"DPF will help the end-users make such a transition by encouraging property developers and brokers to offer the best deals and help the tenants to buy properties instead of continuing to rent," he added.-TradeArabia News Service