Dubai Property Festival expected to generate considerable buying and selling activity by participants
The Dubai Land Department (DLD) has announced that it will organise a three-day sales and purchase event at the Dubai World Trade Centre from April 9 to 11, 2018, as it looks to further stimulate the emirate’s real estate sector.
The Dubai Property Festival is expected to generate considerable buying and selling activity by participants, which will include property developers, brokers, lenders, mortgage providers, investors and home buyers. The three-day show will coincide with a series of events happening in Dubai which are aimed at attracting global investment to the UAE, organisers said.
“This festival initiative is in co-operation with the “International Property Show,” and part of our ongoing efforts to support the real estate sector and provide an ideal environment for all relevant parties,” said Sultan Butti bin Mejren, director-general of DLD.
He added that DLD plays a vital role in reshaping Dubai’s real estate sector, and that it was the department’s duty to ensure that growth and prosperity continue in this sector, allowing buyers, investors and tenants to benefit from the overall economic growth, as well as contributing to the activity of economy.
“We are confident that with this festival and beyond, the real estate sector will continue to grow and contribute to strengthening our economy,” he said.
Majida Ali Rashid, the assistant director-general and head of the Real Estate Investment Management and Promotion Centre (the investment arm of the DLD) said that the festival would provide an excellent opportunity for investors, developers and buyers for strategic networking and do business in a safe and secure environment.
“The Real Estate Investment Management and Promotion Centre seeks to encourage investor confidence in the real estate market, attract investments to the Dubai real estate market and launch a variety of initiatives for investors.
“For example, our latest initiative was signing an agreement with a real estate brokerage office in China to promote the real estate sector in Dubai that will reach more than 1,000 Chinese real estate brokers, with the aim of promoting Chinese investment in the real estate sector in Dubai. Recently, we have also signed a similar agreement with a company in India,” she said.
Dawood Al Shezawi, the head of DPF Organising Committee, said the upcoming festival will be a game-changing initiative that will help a large number of tenants turns owners of Dubai homes.
“On an average, a Dubai tenant can own his home by spending eight years of rental expenses on his property instead of paying them to a landlord,” explained Al Shezawi.
“DPF will help the end-users make such a transition by encouraging property developers and brokers to offer the best deals and help the tenants to buy properties instead of continuing to rent,” he added.