Second ACRES real estate exhibition kicks off in Sharjah

Dubai: The second ACRES real estate exhibition kicked off in Sharjah yesterday with over 100 real estate firms participating.

Shaikh Saud Bin Khalid Bin Sultan Al Qasimi, a consultant in the Sharjah Ruler's office, opened the event and conducted a tour of the exhibition space.

Shaikh Saqr Bin Ahmad Bin Sultan Al Qasimi, chairman of Emirates Vision events management, organisers of the exhibition, said in a statement the event was originally meant to coincide with the region's economic development and growth of real estate activities.

Shaikh Saqr added that Sharjah's economy is testament to the success of His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Ruler of Sharjah and Supreme Council Member.

While the financial crisis has cast a shadow on all economic divisions in many regions of the world, the real estate sector continues to be highly efficient and effective, the statement said.

Shaikh Saqr attributed this to the attractive investment climate established by the UAE government and a country that is secure and has strong communications, business and infrastructure in place.

Ahmad Mohammad Al Midfa, chairman of Sharjah Chamber of Commerce and Industry, said projects such as Sharjah Marina, Emirates Industrial City and the Star Islands illustrate the progress being made in the real estate sector in the emirate, despite economic fears.

There is a 20 per cent increase in the size of exhibition space on last year's figure with a total area of more than 12,000 square metres.

The Gulf and other Arab countries make up around 30 per cent of the total number of exhibitors, with European countries such as Spain and the UK, participating for the first time.