Real estate firms woo investors with offers and payment plans

Khalifa bin Salem Al Mansouri, Deputy Undersecretary at the Department of Economic Development, inaugurating IREIS 2017 at Adnec, Abu Dhabi, along with Antoine Georges. - Supplied photo

The three-day International Real Estate and Investment Show (IREIS) 2017 opened on Thursday with hundreds of projects on the floor from as many companies.
According to organisers, spot booking for projects drew investments between Dh140 million to Dh190 million on the opening day.
All the companies competed to draw investors and visitors, and were happy with the feedback.
Danube Properties held meetings with potential partners, brokers and developers.
"We are offering new projects one-person payment plan. We are offering the payment plan for six and a half years, so our client can get his apartment handed over in two years-time and by this time he will only pay 50 per cent and we are offering four years post-handover.  We will be launching a new project in Dubai by the end of November 2017 as well," property consultant Ahmed Farouk said.
FAM Holding talked about their new tower in Sharjah, as well as our hotel and resort in Al Morjan Island called the Al Mahra Resort.
Sales manager Mohamed Akbik said: "We have exclusive offers such as six-year payment plan, three-year till handover and three-year post-handover payment plan. This is our first time in the exhibition, so far it has been good and we have been doing well." G&Co head of sales Rohit Saluja said: "For our product, we are offering a 10-90 plan, where you pay 10 per cent now and 90 per cent is paid on handover. Out of the 90 per cent, 75 per cent is available as guaranteed finance from us."
Meanwhile, Pakistan has the biggest pavilion at the show.
Pakistan's Federal Minister for Housing and Works Akram Khan Durrani said the show presented a big opportunity for everyone.
"This is the best opportunity for two-way business between Pakistan and the UAE. Real estate investment is rising in Pakistan because of the CPEC (China-Pakistan Economic Corridor). I appreciate and encourage the efforts put into organising such a great show for the international market and for Pakistanis living abroad."
Regarding the recent interest in international investment, Antoine Georges, CEO of Dome Exhibitions, Organisers of IREIS 2017 said, "UAE's residents are increasingly looking for good realty investment opportunities abroad. Due to the lull in the UAE real estate market, investors are exploring new avenues to invest in. Factors behind investing in international properties are the appreciation in value, end use or rental earnings, and the citizenship opportunity it presents itself with".
Record low interest rates, easy monthly payment plans, direct B2C engagement, and a diverse portfolio of a range of projects have been cited as the factors behind the fuelled growth of the real estate show. "The UAE Market is currently showing an upward trend in the last quarter of 2017, making it a desirable location for inward investments. In addition, the Expo 2020 is a catalyst in the real estate market that is attracting investments from all over the world," added Georges. - ashwani@khaleejtimes.com