Property in UAE still 'bucks trend' of downturn

28/09/2009 - Dubai Investment News
Property in UAE still 'bucks trend' of downturn

By Bob Brunskill

Property for sale in Dubai will continue to increase, according to research.

Daily Mail Group media (dmg) is responsible for the Big 5 construction exhibition and says the value of upcoming projects across the Middle East is around $3.1 trillion (£1.95 trillion), with the United Arab Emirates (UAE) accounting for 42 per cent of the value of projects.

Paula Al Chami, show director for the Big 5, said the show is a "barometer" for the industry. She said the industry is "extremely positive" that signs of stability were returning.

Exhibitors at the event include Emirates Steel Industries and Exeed Industries from the UAE. The 43,000 square metre venue is already 92 per cent fully-booked and launches on November 23rd.

Ms Al Chami added: "We seem to be bucking the trend of some other trade shows, which has been reflected in the increased floor space."

dmg world media is a wholly-owned subsidiary of one of the UK's biggest media companies, the Daily Mail and General Trust. Its research anticipates the Middle East construction industry will continue to grow over the next five years at 3.5 per cent each year.

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