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CONSTRUCT ABU DHABI & ARABIAN PROPERTIES 2006 SEE MAJOR INVESTMENT COMMITMENTS IN REAL ESTATE
Updated: 06-04-2006
Highlighting this development, Dr. Shahram, Chief Executive Officer of Al Fajer Properties announced that the company is planning an AED 1 billion investment in Abu Dhabi shortly that will focus on developing leisure and commercial projects. "We plan to build on our successful participation at ARABIAN PROPERTIES 2006 and focus in a big way on Abu Dhabi as it represents one of the most exciting markets in the region for real estate development".

Expressing his satisfaction at Al Fajer's participation at ARABIAN PROPERTES 2006, he said, "The quality of the visitor audience has proved that our participation at this event has been a good return on our investment for us".

The twin events had more than 8,000 registered visitors including VVIPs, and high-ranking officials besides construction industry professionals, media and property investors, over the four days of the event. The visitor registrations were a 70% increase over the previous edition held in 2005. 350 companies representing 130 exhibitors from 18 countries occupied an exhibit area of 14,500 square metres at the two events.

ARABIAN PROPERTIES also saw the launch of the Smart Tower, an AED 500 million project spanning 7.2 million square metres by Dubai-based Bonyan International Investment Group. Bonyan is also looking at focussing on Abu Dhabi with the opening of an office in the emirate. The company will invest US $20 billion in real estate projects in the region in the next 5 years. "ARABIAN PROPERTIES was a good platform for us to showcase not only our current projects but also the upcoming ones as the target audience at the event is one with access to the financial muscle to fund their property investments" said Engineer Abdullah Atatreh, Chairman, Bonyan International Investment Group.

"The quality of the show is world class and the craftsmanship of the exhibits displayed at the show rivals the best in the world. We have had active interest from visitors at the show and expect to close several deals soon,"

said Bill Shehan Jr. President and CEO of Larson, a US based company that builds themed resorts. At ARABIAN PROPERTIES 2006, Larson presented a concept resort called the Black Pearl resort. The resort is built using concrete and steel pylons shaped to resemble towering hills rising to a height of several hundred metres. The buildings at the resort are embedded into the hill ranges and present a panaromic view of the surroundings thanks to the height at which they are placed. Larson also announced the setting up of an office in Dubai to cater to the Middle East region.

"The exhibition gave us a great opportunity to showcase our projects and we are impressed with the interest The Gate, Shams Abu Dhabi received at the event. Abu Dhabi's real estate sector is changing and these changes have been brought about by the easing of regulations and the vision of our leaders to promoting economic growth in the emirate" said Mounir Haidar, Chief Executive Officer, Sorouh Real Estate.

Rajesh Servaia, Manager, Machinery Division at The Kanoo Group, said that the company had garnered good leads at CONSTRUCT Abu Dhabi and he was confident that the company would be able to translate these leads into business over the next few months.

"It is important for us to be present at leading industry events such as CONSTRUCT Abu Dhabi in order to embed our name in the minds of our target audience. The event has proved a good opportunity for us and we are pleased with the level of sophistication and the organisation of the event" said Saeed Al Meri, Head of Public Relations at Qatar Steel Company.

Shafi Al Hasri, Senior Marketing Analyst at SABIC (Saudi Basic Industries Corporation), a prominent exhibitor at the event said "Many of our existing customers attended the event and it was a good way to network with them and listen to what they had to say as we rarely get an opportunity for a face-to-face interaction with our customers here in the UAE".

"The response to CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES 2006 proves Abu Dhabi's importance on the real estate map in the region. The construction and real estate markets in the region are attracting increasing investments and impacting ever increasing sections of the population. Companies plan on using CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES as launch pads for their projects in the future", said a spokesperson for ADNEC (Abu Dhabi National Exhibitions Company, the organisers of CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES 2006.