Aldar supports the creation of first ever Mideast Property Research Society

An initiative of Aldar Properties, Abu Dhabi's leading property development, investment and management company, it is supported by the UK Society of Property Researchers.

The key aim of the society will be to provide a forum for researchers to share views on both market developments and methodologies. In addition, the society will seek to further the professional development of researchers in the region and to enhance the quality of data and other tools available to them.

John Bullough, CEO, Aldar Properties, welcomed the efforts of Aldar's Research team, which led the creation of the new body, together with the Society of Property Researchers in the UK. "The dramatic transformation of the real estate market in the UAE through both construction and investment activity has driven demand for high quality research that has, to date, been difficult to satisfy, often as a result of market practices and conditions. As a result, we are delighted to support the creation of the Society here in the Middle East and encourage all interested parties to take an active role" he said.

Charlie Acworth, Director of research at Aldar, said:

"This society could not have come at a better time with real estate research currently high up on the agenda given the global credit crunch and subsequent economic downturn, which is having a negative impact on the real estate sector both internationally and locally."

"The launch of the Society, therefore, represents an opportunity for researchers to contribute to the development of an increasingly professional, analytical and thoughtful approach to real estate research and investment," he added.

"One of the objectives of the UK Society of Property Researchers is to encourage the development of sister societies around the globe. In this regard the establishment of the Middle East SPR is a welcome development that should contribute to the evolution of the real estate industry in the Middle East region. We will endeavour to support the members of the group as they progress with this exciting initiative," a representative of the UK Society of Property Researchers added.