| Press Conference at Government of Dubai Land Department [Press Conference
11 Nov, 2007] |
A press conference was held on Monday morning to launch the Asian International Investment & Property Show marketing campaign. The conference was presided over by Sultan Butti Bin Mejrin the Director General of Government of Dubai Land Department and H.E. Murwan Bin Ghalita the Chef Executive Officer of Dubai Real Estate Regulatory Agency and Abdul Salam Al Madani President Dubai Holding the organizer of the Conference and Exhibition
Sultan Buti Bin Megran said, “The Strategic Development Plan set by Dubai Land Department in its broad outlines encourages strengthening the relationships and cooperation between the public sectors department with private sector companies. |
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| It encourages national companies to introduce new innovative and value added initiatives to qualify penetrating new regional and international markets with objectives to promote Dubai competitive business environment. |
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It also aims at enlightening foreign companies, international real estate financing Funds, strategic investors of the prevailing legislative setup and codes governing real estate sector. It also highlights the competitive encouragement facilities extended by the Government of Dubai that encourage the smooth flow of direct foreign and joint venture investment in the real estate sector. |
He added Dubai Land Department initiative to support and participate in forth coming Asian International Property 2008 in Seoul falls within the scope of our interest that aims at sponsoring and supporting national companies Sultan Buti Bin Megran added, “Dubai Government Land Department encourages business establishments in Dubai to take an active role in this important event. |
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The participation of national companies will enhance the in flow of direct and indirect foreign investment in Dubai and the UAE in general. This will boost further real estate development trend, which automatically reflect on the overall economic sectors in the country.
Murwan Bin Ghalita the Chef Executive Officer of Dubai Real Estate Regulatory Agency stated our pport and the participation in the forth coming Asian International Investment & Property Show is derived by the importance of this event |
| and the role it plays in promoting Dubai real estate investment environment. It also acquaints the business community in Asia of the various residential, commercial, industrial and services pland and under construction projects He added, |
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“Dubai Real Estate Regulatory Agency will have intensive program which include besides networking with leading strategic Asian investors from Korea, Japan, China and other Asian participants it will hold meetings with Korean International Contractors Association, Korean Construction Contractors Association. These meetings will focus on fostering business relationships and inviting elite Asian business to consider investing in Dubai Real Estate sector |
The Korean investment in Dubai Real Estate Sector has surged during the recent two years .It has crossed one billion US dollars in the 1st. half of this year according to a report released by the Bank of .Korea. This is a clear indication that Korean and Asian investors are attracted by the high return on investment offered by the real estate projects in Dubai and are willing to invest in Dubai and we should encourage them. Murwan Said Bin Ghalita. |
Abdul Salam Al Madani president of Dubai Holding thanked Dubai land Department and the Real Estate Regulatory Agency for their support and said it will have an excellent impact on the success of this important event. |
He said the idea of organizing the Asian International Investment & Property Show in Korea came because of the visit of H.H Sheikh Mohammed Bin Tashid Al Maktoum Vice President, prime Minister, and Ruler of Dubai to S. Korea and meetings held with the Korean leadership and elite business community and investors in Korea. This was also coincided with UAE Korea Economic Partnership Forum held last June and attended by H.H Sheikha Lubna Bint Khalid Al Qasimi minister of Economy. He added Korean business community should notable interest in exploring and investing in the UAE booming economy |
Korea is the strategic gateway for the emerging economies of the 2.5 population South and Eastern part of the Asian continent. It I considered among the most populous area in the world .It has GDP of $ 7.6 trillion which represents 22 percent of the total world GDP Korea serves the most prominent markets in Asia he added. |
Al Madani said “ the need for such conference and exhibition has induced us to plan and organize this important Forum to bring together businessmen , investors , land developers construction companies , designers and consultants in real estate sector under one roof. This will project a large number of investment opportunities. Al Madani added. |
Most of the Asian economies achieved a rate of growth in their economic development. the average GDP growth in the Asian and Pacific reached 8.3 percent in 2006.China achieved growth rate of 10.7 percent S. Korea, 5 percent Vietnam 8.2 percent. This high economic performance associated with a surge in exports and larger inflow of investments and faculties provided by these countries. |
Asian countries are adopting more attractive economic polices to ease restrictions foreign investment to attract investment and encourage Asians invest in the international markets |
The Bank of Korea has released a report showing the Korean investment in the real estate in foreign countries. Private investments in real estate increased from 9 million dollars in 2005 to 780 million dollars in 2006.This include individuals’ investments and companies. Financial sources expect high serge in Korea foreign investment especially in real estate and construction sector. The Korean foreign investment in property projects surged to $ 1.33 in the first half of 2007 and expected to reach new heights by the end of this year according to data released by the Korean Ministry of economy |
