Dubai Chamber hosts Big 5 Connect networking meeting
- United Arab Emirates: Thursday, November 08 - 2012 at 13:30
- PRESS RELEASE
The Dubai Chamber of Commerce and Industry hosted the Big 5 Connect, a networking meeting for its private sector members and their regional and global counterparts from the construction industry, at the Dubai International Convention and Exhibition Centre on Wednesday.
Coming directly within the framework of Dubai Chamber's efforts to facilitate interaction between different stakeholders, the match-making meeting provided an ideal platform for representatives of the real estate and construction businesses to work together for the economic growth of their particular sector while contributing to the overall development of the emirate.
The attendees, both local and international, got the unique opportunity to discuss issues and trends currently prevailing in the construction market while also to brainstorm to find solutions and plan out the future course of action needed for the growth of the sector.
In his welcome address, H.E. Hisham Abdullah Al Shirawi, 2nd Vice Chairman, Dubai Chamber, said that the construction sector has started to see green shoots and is cementing its position as a support sector behind the traditional economic drivers of trade, tourism, logistics and financial services.
Al Shirawi further stated that the construction sector was witnessing a renewed investor confidence which he said was seen during the reappearance of a real estate queue at a new property launch which is indeed a positive sign for the growth of the sector in the coming time.
The 2nd Vice Chairman of Dubai Chamber informed that the Chamber endeavours to promote all Dubai events, especially trade exhibitions and conferences like the latest Big 5 show and to provide direct access to Dubai's construction and real estate businesses to meet their global counterparts and work jointly towards enhancing trade ties with a wider global business community.
A Dubai Chamber presentation showed that the real estate contributes 13% of Dubai's GDP as the UAE is the largest construction project market in the GCC and one of the largest in the world after China, given the plethora of infrastructure and real estate investments being made.
The presentation further pointed out that Dubai's housing supply is slated to increase by 7.8% through five major projects alone which will be completed by the year 2014, in addition to the plethora of smaller developments currently underway.
It also informed that hotel revenues and occupancy rates are so attractive that international hotel chains like Starwood and Hilton are making Dubai a center point of their expansion strategies for 2013 and beyond which all point to the important role played by the construction sector and its appeal to the investors.
Dubai Chamber also participated in a panel discussion on Greening an Existing Building in the Middle East on the sidelines of the exhibition highlighting the advantages of buildings that are more efficient to run, have healthier indoor climates and add to the occupiers' corporate image.
Annelies Hodge, CSR Manager, Marketing and Corporate Communications in Dubai Chamber, shared the Chamber's experience in becoming the first green building in the Arab world while adopting the basket of incentives for deep green retrofit of buildings and leading the trend in saving energy and water resources.
The networking gathering served Dubai Chamber's purpose of serving the business community by facilitating their interaction with global players while opening the doors of new markets and investment opportunities for them. In its quest to develop a competitive business community, the non-profit organisation helps enhance communication channels between different economic sectors which directly support the overall economic growth of Dubai while raising the competitiveness of the emirate's businesses in the global arena.
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