The Middle East Real Estate Society (MERES) – the region’s trusted real estate body has announced the 2006 International Real Estate Agents Forum. The event will be held in Dubai from 21st to 23rd of May 2006 at Dubai’s prestigious Fairmont Hotel. The second edition of the eagerly awaited three-day conference will address the key issues related to the dynamic UAE property market through the theme of ‘Developing tomorrow’s vision today’.
Commenting on the event, Mr. Mohammed Safin, Director of Communications at MERES said: “The UAE is currently the world’s most buoyant property market where investors, developers, architects, buyers and contractors are all looking for the best opportunity to capitalise on the real estate boom. Like last year’s successful event, MERES will once again provide a powerful and invaluable platform for this dynamic industry.”
More than 150 agents attended the previous edition of the event, making it the largest and most influential so far in the series of MERES forums. “With the amazing growth in the local real estate market, we expect this year’s event to be bigger, better in every way making it indispensable for everyone and anyone in the real estate market,” added Mr. Safin.
Dubai’s real estate sector's share in GDP increased from 6.4% in 1990 to 9.6% in 2000 (AED10.6 billion) a result of the high average annual growth rate of 11.95% in the decade from 1990-2000 according to the Ministry of Planning reports. The Dubai government expects AED 184 billion in real estate investment by the year 2010. A further analysis shows the GDP per annum will be at 35% for the next five years.
“As such, real estate continues to play a significant role in Dubai’s development. Investment in real estate has grown from AED 2.5 billion in 1975 to around AED 11 billion in 2000, and now stands at a whopping AED 165 billion. We are well positioned to serve and address this market through our upcoming forum,” said Mr. Safin.
Projects currently under execution in the GCC, Iran and Iraq have exceeded $697 billion (AED2.55 trillion), according to MEED Projects, a business information agency for the Middle East. The UAE accounts for about 32%, or $223.79 billion (AED821.3 billion) of this. However, the UAE accounts for $177 billion or more than 60% of the GCC construction projects worth $294 billion.
Explaining the value of the event, Mr. Safin said: “Our forum provides the ideal platform to bring together our agent network from around the world and discuss the exciting opportunities offered within region’s real estate sector. We are also unveiling an exciting property tour to help potential investors from around the world to explore all of Dubai’s major developments in one easy trip.”
Prominent personalities and leading practitioners including real estate principals, agents, institutional investors, and real estate service professionals will be present at high profile three-day forum.
According to Motivate Events, the organizer of the event and MERES the forum presenters, the first two days will be dedicated to the forum seminars with each evening wrapping up with business dinners in refreshingly different settings like the exclusive Jumeirah Bab Al Shams Desert Resort and the dhow cruise. The third and final day will be the Dubai Vision tour.
Other highlights include a property exchange session; first hand information of new projects in the United Arab Emirates; an auction offering five unique investment opportunities; power networking with the top agents, brokers, investors, developers, banks and government officials.
© 2006 Al Bawaba (www.albawaba.com)
