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Real estate on show

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The International Real Estate & Investment Show 2014 opens its door for visitors aiming to invest in bricks and mortar in the capital and beyond

 

What do you get if you take a vibrant construction industry in rapid expansion and a tax-free market – and then you add a stunning natural landscape and an unflinching local entrepreneurial spirit?

The answer is a lively real-estate market, brimming with opportunities and attracting a hoard of hungry investors.

The sixth edition of the International Real Estate & Investment Show 2014 (IREIS 2014) aims to give an overview and a sense of clear direction to all those interested in investing and learning more about the latest developments.

“IREIS 2014 is about real estate investments and about developers advertising projects,” says Matthew Jay, Associate Director at international property consultants CBRE. “It will essentially give an overview of key projects happening in the region, particularly Abu Dhabi, and provide an insight into interesting developments that people can potentially invest in, particularly on the residential front.”

In the recent past, especially the last ten years, the UAE has become a haven for real-estate gurus. But if Dubai has raised the flag for expatriate hunger, Abu Dhabi is now quickly catching up, and is on a mission to establish itself as the go-to destination for big money and private investors alike.

According to the Global Market Perspective in Q4 of 2014 from real estate services firm Jones Lang LaSalle (JLL), the real estate investment landscape worldwide remains very active, seemingly unfazed by mounting geopolitical and economic uncertainty. JLL expects momentum to build in 2015.

Its local branch, JLL MENA, highlights how attention in recent years is definitely shifting from Dubai to the UAE capital. Abu Dhabi is firmly on its way to becoming a regional hub by 2015, and by 2030 what JLL defines as a “World Winning City” – meaning a real powerhouse in terms of global reach and influence.

JLL believes that Abu Dhabi’s major infrastructure investments, large-scale real estate developments and world-class cultural facilities will propel Abu Dhabi as a global example of a sustainable world-class city.

“I think Abu Dhabi’s real estate market is going in a very positive direction,” agrees Jay. “I think growth is going to continue and more people are going to invest in the city. Historically the focus has predominantly been on Dubai, as expatriates haven’t been able to invest in Abu Dhabi, but that has obviously changed in recent years.”

This climate of positivity is the backdrop to IREIS 2014, with leading exhibitors and property professionals coming together to boost progress on their projects. Consumers will be able to find out the best investment options and receive useful insight into the market trends.

A range of conferences, led by local and international sector experts – from companies such as Solidere International and Al Hilal Bank – will discuss topics such as landmark developments and lifestyle project developments.

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And of course there are plenty of new local projects to look forward to.

“There are a lot of great projects coming up now,” confirms Jay. “The impending opening of Yas Mall is very exciting news, but so are the TDIC villas on Saadiyat Beach that are coming online now. Al Reem Island continues to be developed, as does Sowwah Square on Al Maryah Island and the developments in the Eastern Mangroves.”

Yas Mall is set to become a major shopping and leisure destination for the capital and beyond. Standing at 2.5 million square feet, the imminent opening of this mammoth-sized retail destination has already propelled Aldar Properties’ profits up 42 per cent during Q3 of this year.

The Tourism Development & Investment Company (TDIC) villas on Saadiyat Beach are also making waves. This will be an elite residential community composed of luxury homes characterised by Arabian, contemporary and Mediterranean design.

“An exhibition like IREIS 2014 is important because it bring together professionals — developers, real-estate brokers, private and institutional investors from the Middle East, Asia and Asia-Pacific,” concludes Jay, “but I think it would be very useful also for end-users and non professionals, as they will truly become aware of what is going on in the region and further afield.”

Laura Volpi

 

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