IREIS 2008 to showcase wide range of local and regional real estate projects

Among the international participants are America 2030 Equity LLC from the USA, Groupo Alicante Urbana from Spain, Qatar Sotheby's International Realty from Qatar and Hajar Tower Real Estate Company from Kuwait, who will be showcasing a wide variety of developments and properties in their countries.

UAE participants include Aldar Properties, Sorouh Real Estate, Damac Properties, Al Qudra Real Estate, Hydra Properties, Falconcity of Wonders, Mumtalakat Real Estate, Plus Properties, Pearl Properties and Real Estate Bank. IREIS 2008 will be held at the Abu Dhabi National Exhibition Centre (ADNEC), under the patronage of His Excellency Dr. Sheikh Sultan Bin Khalifa Bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, from January 30th to February 2nd, 2008.

Dome Exhibitions, the organizer of the event, announced that the strong participation at IREIS 2008 reflects the exciting potential in the Abu Dhabi real estate market.

Mohammed Muhanna Al Qubaisi, Chairman of Manazil Real Estate, the platinum sponsor of IREIS 2008, said:

"We are extremely pleased to be the platinum sponsor for the 4th edition of this event. In last year's edition, we enjoyed impressive success in terms of the number of high-calibre property developers and residential and commercial property buyers. We are committed to support the strong growth of the real estate market in the UAE and the events related to it."

Al Qubaisi added that Manazel is the first real estate developer to cater to the needs of the middle-income earners in addition to its offerings targeted at the high-end of the market. "There will continue to be a great demand for middle income properties. The government of Abu Dhabi's relentless efforts in the growth of investment in the Emirate is directly affecting all sectors, especially the
real estate sector. The future is bright for Abu Dhabi and things can only get better next year."

On Manazel's regional expansion plans Al Qubaisi said a project will soon be unveiled in Jordan that will capture the attention of the whole region. He also mentioned that in October 2007, a project was launched in Tunisia named Port Manazel. It is designed to host a vibrant, permanent community around a self-sustaining town centre. Manazel is also eyeing the Saudi Arabia, Egypt and Morocco markets.

Georges Chehwane, General Manager of Plus Properties, the Gold sponsor of the event said that during the show the company will officially launch its latest development called the Skygardens, a luxurious waterfront property designed by the world famous architectural firm James Law Cybertecture. The company will also showcase its two luxurious Dubai Waterfront projects; the Pixel Tower and Wave Residence.

Mr. Chehwane added that the company is negotiating several plots in neighbouring KSA, Syria and Lebanon and hopes to launch several new projects in 2008.

Commenting on his company's participation at IREIS 2008, Abdallah Shabaan, Managing Director of Tameer Holding Investments said: "Our participation is a good opportunity to display our projects, attract new customers and generate interest in our activities." He added that Tameer is currently searching for suitable partners to facilitate the entry of the company into promising regional markets such as Syria and Turkey.

Elaborating on the industry's future, Shabaan said, "It is believed that the buoyancy of the sector will continue. Nowadays the laws and regulations are clearer, the decision-making process is made easier for buyers and new markets are opening up. As a consequence to these elements, we believe the industry, is very promising."

Abdul Mohsen Al Hammadi, Chairman & CEO, Mumtalakat Real Estate, another IREIS 2008 exhibitor said the company values the show highly and considers it an ideal platform to present the company's latest projects, explore business opportunities in the Abu Dhabi market and discuss potential strategic partnerships with other developers participating, and, or visiting the show.

Al Hammadi added that during the show the company will unveil three new projects: Manazel Towers - 4 and 5 in Sharjah and the Marbella Bay at Marjan Island in Ras Al Khaimah.

Khlaed Al Tenaiji, Chief Manager Officer of Pearl Properties promised to surprise the market during the show. "During IREIS 2008, we will be unveiling a new development that will be a surprise to the local market. The real estate sector is booming exponentially and competition is a factor everyone should keep in mind so we believe as developers, we need to come up with new and attractive ideas in order to maintain our image in the market."

"This year's edition has achieved 45% growth in terms of exhibit space and the number of exhibitors, with 80 companies showcasing their developments and properties on an exhibit space of 10000 square meters. IREIS reputation as an industry-focused show has crossed national boundaries as is evident from the impressive list of participants from across the region," said Antoine Georges, Director of Dome Exhibitions.

IREIS 2007 held early 2007 saw 52 exhibitors taking part. Last year's show occupied over 6,500 square metres floor area, which marked a 100 percent 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.