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Acres Middle East Expo Inaugurated in Sharjah
SHARJAH - With a decline in sales and banks adopting strict lending policies to real estate developers, the realty outlook seems gloomy for the emirate of Sharjah in the coming months, say property developers.
“In the wake of the credit crunch, we are trying to be proactive for both end-users and developers, by securing funds for foreign companies. Most of our projects are on schedule, but we cannot predict about the future,” said Amal Amir, a spokesperson for the Saudi based Awali Real Estate Investment Company, which have projects in Dubai and Sharjah respectively.
She was speaking to Khaleej Times on Monday during the first day of the second edition of Acres Middle East International Investment & Realty Exhibition, held at the Sharjah Expo Centre.
The organisers of the event however confirmed that this year’s event has a record entry of exhibitors compared to last year.
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