95% of IREIS 2008 exhibit space contracted

The fourth edition of the exhibition will be held at the Abu Dhabi National Exhibition Centre, under the patronage of His Excellency Dr. Sheikh Sultan Bin Khalifa Bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, from January 30 to February 2, 2008.

Dome Exhibitions, the organizers of the event, announced today that IREIS 2008 will occupy an exhibit space of 10,000 square meters, a 45% increase over last year's edition.

"Over the past editions, IREIS has managed to build itself as one of the leading and most successful property shows in Abu Dhabi and the UAE. Our success, growth and reputation have encouraged more property developers to take part at this year's exhibition," said Antoine Georges, Director of Dome.

"Through IREIS, we will continue to bring individuals and investors together and offer a variety of property options. We aim at making IREIS a comprehensive show where those who are eager to explore the property market in Abu Dhabi can find all they want to know." he said.

Elaborating on the size of participation at this year's edition, Georges said: "Leading real estate and property developers participating at this year's edition include Aldar Properties, Sorouh Real Estate, Tameer, Damac Properties, Al Qudra Real Estate, Hydra Properties, Falconcity of Wonders and Real Estate Bank".

"With such a wide participation, I am certain that this year's show will present an interesting range of local and international investment opportunities," he said.

"IREIS distinguishes itself from other property shows in the emirate as it focuses on the final customer rather than trade visitors. This makes it an ideal platform for key players from the property industry to close business at the show", he added.

Georges said that Abu Dhabi's real estate and property market is expected to achieve rapid and significant growth in the coming years. Citing the projections of "Plan Abu Dhabi 2030" unveiled by the Government of Abu Dhabi, he said the capital city's population will cross 3 million in about 25 years. With this growth in population, coupled with the emirate's dynamic economic growth that is underway, the search for housing and commercial solutions for the future will certainly result in a booming real estate market in the foreseeable future.

Since 2005 when the first steps were taken to open up the UAE capital's property sector, more than Dhs350bn worth of property projects have been announced in Abu Dhabi alone. Major master-planned property projects unveiled in Abu Dhabi include Reem Island (Dhs35bn), Saadiyat Island (Dhs100bn), the Al Raha Beach Development (Dhs54bn) and Danet Abu Dhabi (Dhs34bn).

IREIS 2007 held in early 2007 had 52 exhibitors taking part occupying an area of over 6,500 square metres. This marked a 100% increase over exhibit space from the 2006 edition. Exhibitors at IREIS 2007 included master developers, property development companies, real estate agents and major financial institutions.