The Dubai Property Show will conduct its 2015 edition in London for the first time, from February 27 to March 1.
The British rank among the top three foreign investors in the emirate’s real estate market, according to the Dubai Land Department, with a combined share of $5.6 billion for 9,739 transactions in H1 2014 alone. Therefore, this three-day exhibition offers Dubai-based real estate developers, sales and marketing agents, hotels and hospitality establishments, and government departments, among others, the chance to showcase some of their biggest projects to high-net-worth customers and investors.
LuxuryMena.com, sister publication of Aficionado, speaks with Sunil Jaiswal, president at Sumansa Exhibitions, the organisers of the Dubai Property Show, about the current state of the property market, the importance of the show and why it is taking place in London.
Where does the Dubai property sector stand at the moment?
Dubai is back. We had a big hiccup between 2008 and 2009, and I think everyone can safely say that is now very much back in the market. Investors around the world should consider Dubai as a place to invest, because of the opportunity that lies here. Dubai is among the few places in the world where you can get excellent equity growth and good cash flows. A long-term horizon will get you great ROIs and I think it’s the place to be in the next five years.
Under the wise leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and his Expo 2020 team, Dubai has created an extensive investment opportunity for the world, much of which revolves around the hospitality and real estate industries. Leading real estate developers recognise this as a huge opportunity and are gearing up on all fronts to capitalise on the positive economic environment and confidence in the market.
How has the Dubai property sector grown in the past two years?
There’s been considerable amount of growth. In 2013, Dubai recorded $64.2bn worth of property transactions, when compared with $42.4bn in 2013. Additionally, we have witnessed many new project launches in Dubai last year and in H1 2014. All of these show a positive and healthy environment for future growth.
Why is it important for the Dubai Property Show to take place?
We would like to exhibit Dubai as a brand and advertise its real estate market to end users, investors and institutional investors, and show what the emirate has to offer in terms of opportunities.
It is the first time that an event like this promises to get real estate developers, sales and marketing agents, hospitality developers, hotels, financial institutions, government departments, architects and interior designers, among others, under one umbrella with an opportunity to meet high-net-worth customers and investors on a global platform. The Dubai Property Show’s goal is to help real estate developers from Dubai and the UAE sell projects, raise capital and find partners in London. Visitors to the event will be provided a 360° view of the real estate scenario in Dubai. The Dubai Property Show would allow participants to reach a completely new and high-potential customer base that is untapped by Dubai’s developers.
Why is the show taking place in London?
The British are ranked among the top three foreign investors in Dubai’s real estate market, with a combined share of $5.6bn for 9,739 transactions in H1 2014, according to the Dubai Land Department. Real estate investments from British expats in 2013 exceeded $27.2 million, noting that it is expected to reach as much as $35.3m by the end of the year.
British property investors are savvy. They understand the potential here and also value the no-tax policy on rental and capital gains, and an additional perk, the lack of restrictions on repatriation of funds makes the Dubai real estate market not only fruitful, but also easy and transparent.
A London launch of the Dubai Property Show will give exhibitors the access to more than eight million Londoners and millions living in other European countries.
How many visitors are expected to attend the show?
We are expecting 2,000 serious property buyers.
How will Dubai’s luxury property sector be spoken about at the show?
People worldwide look at Dubai as a place where the impossible does not exist, people know Dubai for its unbelievable projects and luxury properties, such as The Burj Khalifa, The Palm Jumeirah and The World Islands. Our show will highlight some of Dubai’s luxury properties as part of our visitors’ marketing campaign and through PR. And at the show itself, visitors will also get the chance to meet with developers directly and talk about these properties.
First published on LuxuryMena.com