.........................................................
|
| |
| |
|
|
| |
 |
|
100,000 small residential units foreseen in
Abu Dhabi in 5 years
Abu Dhabi,26 March 2006
With most studies indicating
that demand for smaller residential units
in Abu Dhabi would surge to an estimated 100,000
units within the next five years, a promising
future is awaiting the properties sector in
the Abu Dhabi emirate, according to exhibitors
at the Second International Real Estate &
Investment Show 2006.
|
"We
are racing against time. The future of the
property sector in Abu Dhabi is so promising
that property developers may not cope with
the increasing demand for residential units,
shopping malls and many other facilities.
Studies indicate that demand for small units
alone will rise to around 100,000 units within
the next five years", said Saeed Al Mullah,
Business Manager of Surouh Real estate , an
Abu Dhabi-based property developer.
|
Al Mullah who was speaking
on the sideline of the exhibition added that
there are many factors driving the rapid growth
of the real-estate sector, and indeed other
sectors in Abu Dhabi emirate. One of these
factors, he said, is that Abu Dhabi will soon
witness a remarkable growth in its economy
and investment with the setting up of 30 industrial
clusters spread across more than 300 square
kilometers of land in Abu Dhabi within the
next seven years.
|
The clusters
will include metal, chemical and petrochemicals,
food processing industries, construction and
building materials, wood and furniture, oil
and gas services and automobiles.
|
Al Mullah
also cited the efforts of the Abu Dhabi Tourism
Authority, saying that massive promotional
efforts that have been made have attracted
massive investments.
|
"This exhibition
is the first property show to be organized
after the government of Abu Dhabi issued the
property law. The timing is therefore perfect
and the show will definitely serve the promotional
and marketing objectives of real-estate developers",
he said
|
On the participation of
his company at the show, he said Surouh views
its participation as a great booster to its
major projects, some of which are being unveiled
for potential investors for the time.
|
"Surouh,"
he said, "is also planning several projects
in the emirate, including the development of residential,
commercial and recreational properties on Al Reem
island. For his part, Mohammed bin Hamdan of ALDAR
Properties PJSC, a premier real estate development
and investment company in Abu Dhabi, hailed the
opportunity availed by the exhibition as invaluable,
noting that greater importance is attached to
the show by property developers and investors
alike."
|
| |
|
|
