iPhone | iPad
Android
Huawei
Streamlined supply chains help NATPET improve production continuity and cost savings and enhance shipment visibility and control
KT APPDOWNLOAD
Global Recession Casts its Shadow on Property Show
DUBAI - Investors gave lacklustre response to the International Property Show (IPS), which was inaugurated at Dubai’s International Convention Centre on Sunday.
“These are the difficult times and we must admit the realty and then we find the solution,” said Abdullah M Al Shizawi, managing partner of Heart of Capital, a company that sells
“Last year, visitor turn out was amazing and we had number of good deals. But today there are almost no visitors,” he said. According to him, it will take at least four to five years before the reality sector bounces back.
Dawood Al Shirawi from the Strategic Marketing and Exhibition (SME), the event organiser said that it was challenging for SME to organise the event.
“This was a big challenge for us to organise this exhibition during recession times. Right now local market is going through the correction period due to the global recession,” he said.
He said only serious investors are visiting the fair to check the pulse of the market. Even then, Dawood was hopeful of closing some deals. Faisal Khilji, representative of Chapal Builders said that it is a good time to own a home instead of renting. Shaikh Mohammed bin Khalifa Al Maktoum, Chairman, Dubai Land Department inaugurated the International Property Show- Dubai 2009. Speaking at the inauguration, he expressed optimism over
“
He also assured full support from the Dubai Land Department for developers who have registered with Real Esatate Regulatory Authority (RERA).
Ziad Bushnaq, CEO of Cornerstone said: “This show of faith will have a very positive effect on the regional property sector, and will definitely help to boost confidence in the real estate sector. The participation of top companies from so many countries around the world is also a good sign, and we are confident that the property market in the region will not take long to pick itself up and get moving again, albeit at a slightly more subdued pace.”
· aneela@khaleejtimes.com
More news from
Globally, spot gold was trading at $2,662.59 per ounce, down by 0.38 per cent
Israel's foreign minister said there would be no ceasefire in the north
Biz2X is the technology platform offered by Biz2Credit, one of the largest SME finance companies in the US which processes billions in business financing annually
Initiative will help provide free healthcare services to more than 3,000 patients monthly across the UAE
Currently, expats make up 2.61 million, or 5 per cent, of the country's total population, and its government predicts the number may cross 3 million within five years
The brand's success is driven by its dedication to maintaining the highest standards of purity and efficacy in its products