Business | Property

Dubai's developers hope to win major deals at property show

The International Property Show (IPS) 2008 kicked off yesterday with many of Dubai's real estate developers expecting multi-billion dollar investments.

  • By Suzanne Fenton, Staff Reporter
  • Published: 00:08 February 18, 2008
  • Gulf News

  • Shaikh Hasher Maktoum tours the stalls after inaugurating the International Property Show at the Dubai International Exhibition and Convention Centre yesterday.
  • Image Credit: Megan Hirons/Gulf News

Dubai The International Property Show (IPS) 2008 kicked off yesterday with many of Dubai's real estate developers expecting multi-billion dollar investments.

Inaugurating the event, Shaikh Hasher Maktoum, Dubai Director of Information, said, "The fact that the regional property sector and the International Property Show have both grown by a massive 50 per cent this year is a clear reflection of the outstanding potential of the regional real estate market.

"As the event continues to accurately mirror the real landscape of this multi-billion dirham industry, the show has seen the presence of huge and diverse projects from all over the world growing over the years."

The event expects to attract 27,000 visitors and exhibitors from over 200 global real estate companies.

IPS 2008 is set to be the biggest in the region possibly due to a significant boost in investor confidence in the real estate market, thanks to regulations put in place the Real Estate Regulatory Authority.

Saudi Arabia, Iran, Ireland, Panama and Russia are participating in the event for the first time.

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