Wednesday, January 28, 2009

Right opportunity for real-estate investment in Abu Dhabi

By Sidney Perez

The Abu Dhabi Real Estate and Investment - IREIS 2009 remained in full swing as it went into its second day after attracting a large number of visitors.

Experts and company executives said the show, in which more than a 100 companies are participating, appeared to be a good opportunity for real estate investors to finalize deals and see the latest developments in this fast growing sector.

According to Antoine Georges, Director of Dome Exhibitions, which is organizing the show, the strong presence by major property developers from the UAE and other countries gives a strong push to the event and attracts many people wishing to get acquainted with the latest real estate developments or those who want to invest in this sector.
"The investment atmosphere in this sector is still very encouraging and the strong presence at this show proves that all those concerns are merely psychological factors that have nothing to do with the real economic situation in the country," Georges said.

Developers believe most major speculators have exited the real estate market because of the global financial crisis and that the market is now dominated by medium and long term investors, which will contribute to stabilizing the market and eliminate the state of fear.

Experts said demand for property in Abu Dhabi has remained strong as it exceeded 20,000 units last year while it is expected to peak at 70,000 units in the next three years.
Around 50,000 units are expected to be delivered and this will keep demand very high.

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