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IREIS 2007 to be held this week
under the patronage of HE Dr. Sheikh Sultan Bin Khalifa
Bin Zayed Al Nahyan
Abu Dhabi's premier property show records 100 percent growth over last edition
Abu Dhabi, 18th March, 2007
IREIS 2007, the third edition of Abu Dhabi’s
premier property show will be held 21st to 24th
March, 2007 under the patronage of His Excellency
Dr. Sheikh Sultan Bin Khalifa Bin Zayed Al Nahyan,
Member of the Abu Dhabi Executive Council.
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The show has doubled in
size since last year’s edition and will
occupy 6,500 square metres and two exhibit
halls at the Abu Dhabi National Exhibition
Centre. IREIS 2007 will be a platform for
investors and real estate providers to interact
and conclude deals directly and is focussed
on the final consumer rather than members
of the trade community.
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Addressing
a pre-event press conference in Abu Dhabi
today, Antoine Georges, Director, Dome Exhibitions,
which is organizing the show, noted that IREIS
2007 was being held at a time when investor
appetite for real estate in the UAE was at
an all-time high. “The steady repatriation
of capital into the region and increasing
economic prosperity has coincided with a liberalisation
of property laws. A range of real estate projects
have been presented to the market and investors
have reaped good returns”.
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Noting
that Dubai has had a head-start in attracting
property investments for a few years now,
Georges said that it is Abu Dhabi's initiatives
and projects in the sector that have been
making waves recently.
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“Since mid-2004
projects with a total value of more than AED
380 billion have been announced in Abu Dhabi.
These include The Quay, Yas Island, Saadiyat
island, Al Raha Beach, Danet Abu Dhabi, Najmat
Abu Dhabi, Shams Abu Dhabi and Capital Centre”.
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Quoting
statistics from the Abu Dhabi Chamber of Commerce
& Industry, Georges stated that Abu Dhabi
will see AED 500 billion being pumped into
real estate investments and the emirate’s
construction and real estate investments are
expected to contribute AED 40 billion to the
emirate's GDP in 2007.
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Stating
that the patronage of HE Dr. Sheikh Sultan
had provided a big boost to the show, Georges
said that the 2007 edition of IREIS has grown
from 3200 square metres last year to more
than twice the size, this time around.
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IREIS 2007’s
47 exhibitors include master developers such as
Sorouh Real Estate, Al Qudra, Tamouh Investments,
Falcon City of Wonders and Manazil Real Estate,
property development companies such as Profile
Group Properties, Hydra Properties, Aztec Propeties,
real estate agents MAS Real Estate, Sherwoods,
Vista Real Estate and Royal House Real Estate.
ADCB and First Gulf Bank will present their range
of real estate financing packages.
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Sorouh will accept
bookings for the Sky Tower, Tala Tower, Golf Gardens
and Shams Abu Dhabi projects at the show. Investors
can also purchase properties in Marina Heights
located on Al Reem Island, Hydra Village near
Shahama, Hydra Towers in Business Bay and Downtown
Tower in the Burj Dubai district.
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"Abu Dhabi is
also home to a large number of high net worth
individuals who have made significant investments
abroad. This explains the showcasing of several
overseas properties at this edition of IREIS",
added Georges.
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IRIES 2007 will
open at 10 AM on the first two days, and close
at 1 PM in the afternoon; Entry for visitors will
re-commence 5 PM onwards and the show will stay
open till 8:30 PM on Day 1 and 10 PM on Day 2.
The last two days of the show will coincide with
the Friday / Saturday weekend and the show will
open at 4 PM and close at 10 PM on Friday whereas
on Saturday it will run from 10 AM to 1 PM and
5 PM to 10 PM making it very convenient for visitors
to attend.
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| Sorouh Real Estate,
Profile Properties, Al Rayan Investments, ADCB
and First Gulf Bank are the show's main sponsors
this year. |
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