The International Property Show 2006, comprehensive annual trade exhibition for international and Middle East property markets, came to a highly successful finish at the Dubai International Exhibition Centre. The Show, organized as part of the International Property Week by Strategic Marketing and Exhibitions in co-operation with The Domus Group, was held from the 21st to 23rd of February 2006.
By closing, the Show had finalized several high-profile property deals, with real estate developers and investors availing the Show platform to conduct business and showcase selected projects. The Show clocked deals worth US$ 15 billion (AED 55.1 billion) on the opening day alone, with residential projects from UAE developers accounting for a significant share of the deals negotiated. UAE-based Landmark Properties sold 20 percent of their showcased projects in the first day, while Saudi Arabia-based property developer Silicon Gates also recorded 20-25 percent sales in the opening.
Developers from Thailand, Fiji, Australia, Morocco, US, Germany, North Cyprus, Indonesia, and other GCC countries also recorded phenomenal sales figures for their various projects.
Selvan Chetty, spokesperson for Fiji-based developers The Talei, said, "We received very good responses from investors and interested buyers. Fiji as a tropical destination got excellent exposure, and we are working on 10-14 deals at the moment. We will certainly participate in the next IPW. "
New Zealand’s Starline Properties also enjoyed success at the Show, with Brendan Cohy, Business Development Manager for Starline commenting "The response from investors was heartening, and the steady flow of people at our stand resulted in 12-14 very good leads.”
On its second day (Wednesday, 22nd February 2006), the Show hosted a live auction in co-operation with the Dubai Land Department for residential and commercial land in Dubai’s Mamzar area. The auction, with 16 screened participants bidding for two pieces of land, netted AED 13,900,000 for the first and AED 10,900,000 for the second piece of land on offer.
The Show attracted a comprehensive selection of world-class developers, ancillary services and finance providers and serious investors. Nakheel, Deyaar Development, Dubai Properties, Al Tamir, Al Attar, ETA Star, IFA H&R, Oman’s PRD NationWide and Bahrain’s Riffa View were part of the lineup of exhibitors looking to showcase selected real estate projects at the Show. Bonyan used the Show as lumped for its new AED 55 billion project in Syria. Exhibitors also showcased fully automated “smart home” concepts.
Dawood Shezawi, Managing Director, Strategic Marketing, said, “The International Property Show proved its credentials by emphasizing active investment as opposed to mere showcasing. We have received overwhelming developer and investor support, with over 16000 visitors recorded over a three day period. The large number of deals successfully concluded during the Show bears testament to visitor quality and serious investor intent.”
Monitoring statistics indicate that the Show received over 4000 visitors on the first day, 7000 on the second and 5000 on its final day.
“It was heartening to see support not only from local and regional but also international players, and exhibitor feedback shows that next year will witness a large number of repeat exhibitors. We will work to capitalize on our success here and make IPW 2007 even bigger and better,” he concluded.
© 2006 Al Bawaba (www.albawaba.com)
