Cornerstone Real Estate to represent UAE property market at European Pension & Investment Summit 2008

Cornerstone will be joining a number of Pension Funds representatives from the UAE but are the only real estate company to be representing the UAE property market.

The summit, which in 2007 saw 45th vice president of the USA Al Gore, and Head of Unit UNEP Finance Initiative for the United Nations Paul Clements-Hunt as keynotes speakers, is an exclusive event for senior level pensions and investment focused executives from leading corporations across the globe. Executives are identified through careful research and recommendations from key industry sources and delegates are selected by specific criteria such as size of pension fund and scope of responsibility.

The United Nations has speculated that with economic growth slowing down in most of the developed economies and the consistent increase in the United States net foreign liability, the willingness of investors to buy dollar-denominated assets could eventually erode. As the latest statistics show, the United States remains the main engine of global economic growth, but the continual dynamic growth of China, India, Middle East, and other emerging economies is tempting the balance of power and traditional sources of investment returns to shift with important implications for the wider investment community. In the meantime, European Pension funds, spurred by the needs of their scheme holders, are becoming increasingly intrepid in pursuing less traditional investments and methods and begin to venture more aggressively into global investment opportunities.

"We see this summit as a great opportunity to bring about awareness to the potential of investing pension funds into the UAE property market as a lucrative prospect," commented Cornerstone Real Estate CEO Ziad Bushnaq.

"More and more oversees investors are putting their money into the UAE's ever growing real estate market as they can see the full potential of the region and view the growth as stable and sustainable. We are proud to be representing the UAE in this industry and hope to generate both interest and awareness at the summit,"

Bushnaq concluded.

Cornerstone has had a busy and successful first quarter with towers selling up to 80% during the pre-launch phase. They have successfully signed and sold over DHS1bn of property throughout the UAE and predominantly in Abu Dhabi in the first quarter of 2008 alone.