Northern Emirates may make universal ownership of property for residents a reality

The show is being held under the auspices of H.H. Sheikh Majid Bin Saeed Bin Rashid Al Nuaimi, Head of the Ajman, Amiri Court at the Ajman Kempinski, Ajman from 8-9 February.

"For the majority of UAE residents, owning a home in the Emirates is still a pipedream," said Tessa Morris, Marketing Director, DSL Exhibitions. "Since this restricts a large segment of the population from participating in the growth of the real estate market, affordability can open the doors to a huge, latent market of buyers within the UAE, and the Northern Emirates are making this possible."

Focus is now being centered on the Northern Emirates as a viable alternative investment to sky rocketing prices in Dubai and properties can now be purchased on payment plans that middle and low income segments can afford - with as little as 5% deposit in some cases and fixed payment plans of AED 2000 per month. This will have a major impact on the ability of a large proportion of the population to also cash in on the property boom and change the investor / home owner profile in the UAE. "We are witnessing UAE's next property boom here in the Northern Emirates," she added.

Bridled optimism

Speaking on growing buyer interest, Khurram Wahid, Director of Sales at Chapal World, Platinum sponsors of the R&R Local Property show, said: "The property market in Ajman has matured significantly, way ahead of its previous levels. Being more affordable is no longer a competitive advantage - developers as well as buyers are now focusing on value adds such as furnished guest suites, water games, golf simulators, and party halls etc. which can add to rental values," he said. "As more and more modern residential developments are introduced in Ajman, population density is rising, creating stronger demand for properties that offer closer and faster routes to Dubai."

Amir Pardesi of Star Giga Establishment, a property developer who launched Goldcrest Dreams agreed. "Real Estate will remain the primary engine of growth for Northern Emirates for some time to come," he said.

The R&R Local Property Show, Northern Emirates is the first dedicated real estate showcase focused on the Northern Emirates. Also for the first time, major developers of projects in the Ajman, Sharjah, Ras Al Khaimah, Umm Al Quwain and Fujairah will gather under one roof to showcase their properties to the public.

The Show is being held at Ajman as the Emirate is centrally located and easily accessible from all parts of the Northern Emirates. The venue is The Ajman Kempinksi Hotel and the show will be held on 8th and 9th February 2008 from 10.00am - 10.00pm. The show will also include all of its popular elements - weekend show days, free entry, a huge range of properties for rent and sale, and the popular Property Wall.

Exhibitors at the show include Chapal World, Goldcrest, BL Properties, Abu Dhabi Estate Centre, Ajman Land Properties, Al Kubra Investment House, Aspire Real Estate, Geo Property Brokers, Midein Umm Al Quwain, Tricon Properties, Midex Property Developer, Monarqe Properties and Investments, Northern Emirates Property, Palm Real Estate LLC and several others.