Adel Al Shirawi, Chief Executive Officer of Finance expects the real estate market conference in the Middle East values real estate at $ 150 billion

Adel Al Shirawi, Chief Executive Officer of Finance expects the real estate market conference in the Middle East values real estate at $ 150 billion

 

This year's Middle East Property Market Conference, which will be held at the Shangri-La Hotel, will highlight the current status of the real estate market in Dubai. This will be reflected in the opening speech by HE Saeed Al Muntafiq, General Manager, Dubai Investment and Development Authority.

Saadeh Saeed Al Muntafiq spoke about the real estate market in the Middle East in 2004 with the emergence of several large real estate projects, which will attract international attention in the region.

Investment in the real estate sector will continue to be strong this year as more capital is allocated to tourism, trade and infrastructure development across the region.

Experts expect investment in the burgeoning real estate market in the Middle East to continue in 2005, with many large and new projects being completed and new developments planned.

Saadeh Saeed Al Muntafiq, General Manager, Dubai Investment and Development Authority, said: "The real estate market in the Middle East was marked in 2004 with the emergence of several mega real estate projects that will attract international interest in the region.

"Real estate investments will continue to be strong this year as more capital is allocated to tourism, trade and infrastructure development across the region."

Sheikh Khalid Al Qahtani, Chairman of RAKAZ, said that local and regional governments have an important role in promoting real estate projects in the Middle East. The organization and clarification of property issues, as well as the harmonization of laws and regulations on construction, design and investment, will lead to further rapid and consistent growth of this sector. "

The conference will be attended by Adel Al Shirawi, Chief Financial Officer, Stephen Bento, Senior Vice President and Head of Retail Banking at Mashreqbank, and Linda Mahoney, President of Peter Homes.

"The real estate sector in the Middle East is one of the most dynamic in the world and there are many complex issues facing developers, investors, buyers and governments in this area," said Edmund O'Sullivan, Managing Director of MEED. Sector, and these topics will be discussed during the conference. "

The real estate market in the Middle East is estimated at $ 150 billion, making the real estate sector one of the fastest growing sectors in the world. While the United Arab Emirates leads other countries, other countries such as Bahrain, Kuwait, Qatar and Saudi Arabia have exciting opportunities for development projects.

Regional and international real estate leaders will discuss the dynamic growth of this sector during the second Middle East Property Conference, to be held in Dubai from February 1 to 2.

Source: Al Bawaba