Dubai, Asharq Al-Awsat- In an indication of the continued growth of the property market, US$ 15 billion worth of deals were negotiated on the first day of the International Property Week (IPW) 2006, the annual property sales show being held at the Dubai International Exhibition Centre. The exhibition will conclude on February 23, 2006.
Property developers from various countries, including Thailand, Fiji, Australia, Morocco, US, Germany, North Cyprus, Indonesia, the UAE and other countries in the GCC region, recorded phenomenal sales figures for their various projects on the first day of the three-day exhibition. Residential projects of UAE developers accounted for a significant share of the deals negotiated.
Rana Hawa, Project Manager of the UAE-based Landmark Properties, one of the participants at the event, said, “We had an extremely successful outing at IPW 2006, with 20 per cent of our project being sold within the first three hours. The show offered us a perfect networking platform, and the fact that serious investors comprised much of the visitors greatly helped our cause.”
Abdulrahman Al Attar, Emirates Partner of Saudi Arabia-based property developer Silicon Gates, said, “The response we received from investors and visitors has been outstanding. The large turnout of high-potential trade visitors enabled us to initiate new business relations. In fact, in just the first day we were able to record 20-25 per cent sales for our project.”
Toni Howard, Sales and Marketing Director of Australian firm PRD Nationwide, said, “As an international property developer, we were looking for an ideal forum to develop new contacts and promote our projects in the Gulf region. Our participation at IPW has allowed us to establish significant new relations, and we have been able to achieve a conversion rate of 10 per cent already. Our projects located in the Gold Coast area of Australia evoked particular interest among investors and visitors to the show. At IPW, we are showcasing one of our most prestigious projects, which in fact is the tallest residential tower in the Gold Coast.”
International Property Week is an event focused on residential property sales and investment, enabling investors and private buyers to meet developers, agents and providers of services and expertise. The exhibition is organized by The DOMUS Group in partnership with Strategic Marketing.