Global Arab Network | Dubai: Property sector bounce back in UAE

Translate this article to your language:

GANPublications

e-Publications

Add Site to Favorites

Add Page to Favorites

Make Homepage

Share This Page

RSS Feed

--------------------------------------------------------------------------------------------------------------------
| |

Dubai: Property sector bounce back in UAE

Global Arab Network - - Asmaa Malik

Tuesday, 19 April 2011 10:30

http://www.english.globalarabnetwork.com/http://www.english.globalarabnetwork.com/plugins/content/contentoptimizer/79555c4ce4aab2d1dcc75c17037473d14498fa73_350x208_Q75.jpeg

Global Arab Network - The return of the bounce in the property sector is a clear indicator that things are returning to normal, commented a UAE daily.

The note of optimism struck at the Abu Dhabi Cityscape Exhibition by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is a reaffirmation of the turnaround.

"Although the sales graph for new projects may not soar dramatically with investors still in a wait-and-watch frame of mind, the presence of so many people in the exhibition and the interaction between builders, architects, developers, consultants and other professional cadres linked to the real estate business is a very positive aspect since it has galvanised the industry and provided a forum for these experts to establish connections, assess the real time situation on the ground and, most importantly, recognise how swiftly old projects are moving towards fruition", said Khaleej Times in its today's editorial.

Cityscape in its fifth edition does have a different texture because it is acting as the spur to the future and creating an ambience based on confidence and conviction that the construction industry can once again hope for a place in the fast track. There is also a general feeling that investors have the liquidity and do find the UAE a very safe option to keep their wealth and use it for business. This belief has been strengthening in the past few months and it is only a question of time when the realty sector is given that boost which will, in turn, impact exponentially, on all other allied industries.

"Perhaps the start will come from interest in the major projects, which become iconic and, therefore, lead to being more dependable and most likely to be completed in time. Because of the prestige attached to them they also seem to underscore investor faith and this is a vital aspect in the rejuvenation process".

"Exhibitions of this nature restore the confidence but more valid is the fact that they correct any wrong perceptions in the minds of the end user and put things into perspective. Unfortunately, too many potential customers are not properly educated in the actual situation and the more coming together like this the swifter will be the realisation that things are looking up", the paper concluded.
Global Arab Network

Add comment

The opinions of the authors in articles published are theirs alone and do not necessarily reflect the views of Global Arab Network
------------------------------------------------------------------------------
Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network