Home Owner Dubai announces 2004 dates

The event is to take place 3-5 June 2004 in Dubai and comes at a time when industry experts are predicting a US$ 50 billion investment in Dubai's real estate sector maintaining substantial growth until at least 2010.

Among those developments contributing to this growth is Emaar Property's Dubai Mall an ambitious retail-focused real estate development which will include residential amenities along side retail outlets. Other exciting developments fuelling the free-hold property sector include that of Saba Groups decsision to invest Dh1.2 billion in the Emirate's free-hold property sector over the next two years as well as the ARY Groups' Dh100 million ARY Marina View.

General Manager of Marketing for Motivate Events, Simon O'Herlihy said, "The boom in the real estate sector, which has in part been fuelled by lower bank interest rates, is predicted to be sustained by attracting a sizeable share of Arab funds that remain abroad, estimated at more than $600 billion, eventually repatriated by investors over the next few years". "The all-round boom in the property sector has been demonstrated by the rise in the number of land transactions. Dubai Land Department have said that the realty market in Dubai is thriving with a 27 per cent growth with transactions last year rising to Dh5.61 billion from Dh4.4 billion in the previous year" he said.

The number of land transactions last year was the highest since 1998. The price of land in areas near developments currently under way in Jumeirah and Al Barsha has surged to record level.

"With the rapid increase in the number and population of both nationals and expatriates, as well as the increased demand for land and real estate, comes the associated demand for information about legal and financial considerations" said O'Herlihy. "Consequently demand for information is outstripping the ability of advisors to provide it. After one event, Home Owner Dubai has firmly established itself as the place where people want to get information and has proved to be the foremost event in Dubai to provide a forum at which purchasers and investors can get the knowledge they need at one dedicated event" he said.

Home Owner Dubai 2003 attracted over 2,400 visitors to the 2 day event. However, the demand for information has been so great that the organisers are getting inquires about the real estate industry on a daily basis.

"The disparity between information supply and demand is demonstrated by the overwhelming amount of calls we receive daily for information even though Home Owner Dubai finished in December. It simply proves that investors and buyers want impartial advice, simply put, in one place" said O'Herlihy. "As a result of the market research we conducted at Home Owner Dubai 2003 we will continue in 2004 to address the needs of investors and purchases by providing targeted seminars and a series of "Meet-the-expert" presentations along side a showcase of up-to-the-minute plans and future offerings from the regions developers, finance institutions, lawyers, real estate advisors and associated property support services".