Ministry of Foreign Trade heads UAE delegation at 'International Property Show Moscow 2008'

The UAE delegation will also include delegates from the Department of Tourism and Commerce Marketing - Dubai (DTCM) and over 50 UAE developers, who have confirmed their presence as part of their efforts to establish ties with local and international industry players.

Set to feature prime real estate projects from UAE and across the globe, the event is highly anticipated by investors and high net worth-individuals who are expected to attend the event's three-day run from November 10 - 12, 2008 at Hall 1 of Crocus Expo International Exhibition Centre, Moscow.

Headlining the UAE delegation is Abdullah Bin Ahmad Al Saleh, Director General of MoFT, who will deliver a welcome speech at the international conference, and Sergey G. Kanaev, Director, DTCM - Russia, CIS and Baltic States. Hosting the UAE delegation's presence at the event will be Karakhanov Tigran Alexandrovich, Minister of Foreign Economic Links, Moscow Region Government; and Chmirev Alexei and Oleynik Igor, representatives from the Ministry of Ecomonic Development of Russian Federation. The extensive presence of the UAE delegation is aimed at leveraging the booming market in Russia, as well as attracting Russia-based investors to the UAE.

"The participation of the Ministry of Foreign Trade and the Department of Tourism and Commerce Marketing - Dubai at the 'International Property Show Moscow 2008' reiterates the significant role of international exhibitions to the UAE Government's strategy to attract potential investors to the Emirates,"

said Dawood Al Shezawi, Managing Director, Strategic Marketing & Exhibitions.

"In addition, the presence of over 50 UAE-based developers also points significantly to the booming real estate market and the diverse array of innovative projects that are being developed in the country."

The first day of the event will witness an international investment conference, which will be held to encourage sharing of knowledge and collaboration among global players to foster the growth of the global real estate market. This will be followed by a networking session and a gala dinner, which will provide an opportunity to participants to meet high potential partners from all across the globe. Furthermore, the organiser will also facilitate a tour for the UAE delegation to visit the projects of MIRAX Group, a leading real estate conglomerate Russia within the show's first day run. Among MIRAX Group projects that will be included within the tour are: Business Center Federation, Kutuzovskaya Riviera, Golden Keys - 2 and Mirax Park.

"Russia's booming real estate sector is fuelling the growth of foreign trade internationally, mainly with the UAE, which motivated us to extensively participate at this important event. As the representative of the UAE, our prominent presence reflects the Emirates' growing repute as an enviable real estate investment destination. Given the marketability of UAE-based projects and the continuing support of the government to the growth of this thriving sector, we are expecting tremendous results in terms of sales and interest generated during the event, which will bode well for the foreign trade numbers of the UAE," concluded Abdullah Bin Ahmad Al Saleh, Director General of MoFT.

Organised to highlight Russia's booming real estate market and to provide international developers a truly global platform to showcase their own projects in their respective countries, the 'International Property Show Moscow 2008' is the Russian edition of the biggest transactional property show that is held annually in Dubai. In the recent years, both Russia and the UAE have seen significant growth in the real estate front, with Russian investments into commercial real estate projected to top $5bn, half of which is expected to come from foreign investors. Meanwhile, more than 800 Russian investors have bought commercial and residential properties in Dubai, with an estimated combined value of over Dhs700m in the last few years.