RAKAA Properties' launching of smart towers gains interest during Cityscape

The event represents an attractive platform for diverse real estate developers who belong to countries with booming property market.

Speaking of his company participation in Cityscape, Dr. Abdulrahman Al-Tassan, CEO RAKAA Properties, the real estate subsidiary of RAKAA Holding, said: "As a reputed investment destination, UAE has been striving to uphold its leading position as an international real estate investment hub. The country has successfully created a high profile in the international market and positioned itself high on the world real estate map. Dubai is witnessing an era of accelerating growth, as a focal center of international investment.

The volume of investment inflow into Dubai has surpassed all the expectations, and significantly contributed into further boosting the booming real estate market to a degree that investors can hardly believe that there is a vacant plot of land in Dubai for their property development. RAKAA Properties is highly encouraged to explore investment opportunities in the buoyant UAE's property market, and we believe that this move towards the real estate markets in the UAE is an important step in the right direction."

Cityscape Dubai 2007, the largest business-to-business real estate investment and development event in the world, has concluded its activities at Dubai International Exhibition Center, attracting over 1000 participants from 120 countries in addition to 300 local exhibitors and over 45,000 real estate professionals and investors, media representatives and visitors.

The three-day event has a floor area of 70,000 square meters and hosted the largest ever number of investors, owners and developers in the booming Middle East multi-trillion dollar property industry. The figure of transactions completed during the show has been unpredictable yet, however, observers estimated it to cross the $1 trillion mark.

Cityscape Dubai 2007, has witnessed a substantial growth in terms of the extent and quality of services rendered, according to media sources. This leap was reflected through improving the transparency level and issuing a set of new regulations that protect investors and further boost Dubai leading position as a safe destination for investment.

Observers affirmed that Dubai has positioned itself as a favorable business and tourism destination due to its open and transparent investment policies. The emirate has become a target for the largest multi-national property developers, and has broken records in terms of investment volumes and year on year growth.