Dubai Properties highlights investment opportunities at UAE-South Korea Forum

Addressing government officials, businessmen and decision makers at the forum, Mohamed Binbrek, CEO of Dubai Properties, said: "With a determined and visionary leadership, the UAE has managed to safeguard the country's development and provide the world a unique atmosphere to do business.

"Our long term strategy is to identify opportunities for investors from both countries. This is in line with the UAE's vision to bridge cultures through commercial initiatives and follows the recent visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, to South Korea."

Binbrek observed that South Korean investors have historic links with Dubai, citing the long term presence of companies such as Samsung, LG, Hyundai and others in the UAE. In addition, South Korean real estate developers like Sungwon Corporation and Bando are both developing landmark projects with Dubai Properties at both Business Bay and Culture Village.

South Korea is one of UAE's leading trade partners. Bilateral trade between the countries has doubled from US$7.96 billion in 2003 to US$15.82 billion in 2006.

Dubai Properties also showcased its diversified portfolio of projects including the Business Bay, Culture Village, Tijara Town, The Villa and the Jumeirah Beach Residence at an exhibition that was running concurrently. The exhibition offered Dubai Properties an opportunity to negotiate business development with South Korean investors.

Beating markets like China and India, Dubai deserves to be regarded as a truly remarkable 'Global City, Dubai has a consistently impressive economic growth - 16% last year, he noted.

During the next five years, Dubai Properties will focus on leveraging the full potential gained from close cooperation with corporate partners, investors, and contractors.

"Investors from the GCC and Middle East have consistently looked eastward for viable prospects in sectors such as property development, financial services and trade. We hope to reach out to clients looking to capitalize on our region's dynamic business opportunities and set new targets for growth," Binbrek said.

During his visit to Korea, Binbrek visited Posco Engineering and Construction and Kumha Engineering and Construction LTD two of leading construction companies in Korea as part of enhancing and developing relations with Korean companies.