With 81 weeks remaining until Expo 2020 Dubai, the oft-quoted over-supply of real estate projects in the emirate is a thing of the past, at least according to developers and organisers of the Dubai Property Festival (DPF), which ran 26-28 March at Dubai World Trade Centre.
Expo 2020 is expected to attract 25m visitors, 70% from outside the UAE, and the global event has triggered a spate of high demand for real estate.
A government initiative permitting 100% foreign ownership and 10-year visas are also seen as key drivers for the market.
Farhad Azizi, CEO Azizi Developments, said: “Dubai’s real estate sector is witnessing a surge with Expo 2020 being around the corner. “DPF is a valuable platform that gives attendees the opportunity to familiarise themselves with our speedily-progressing projects to capitalise on exceptional deals. In line with our Year of Construction, which we dedicate to our rapid progression in construction and delivery, we are offering exclusive IPS pricing on developments that will be completed in 2019.”
DPF ran in partnership with the International Property Show (IPS) and Karim Badran, Sales Team Leader at Trafalgar Properties, said he was, confident that several leads gained at the forum would turn into customers.
Tasceken Group (pictured) was one international exhibitor and showcased its work in delivering more than 2,000 residential units in 30 years in Turkey.
The last day of the show also offered knowledge sessions shedding light on the impact of cutting-edge technologies such as blockchain, artificial intelligence, and the Internet of Things (IoTs) on real estate. Investment Destination Forums at the show featured the property markets of Mauritius, Pakistan, and Europe.