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350 companies from 18 countries to participate in CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES 2006
CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES 2006 to be held 2 to 5 April 2006, will see the participation of 130 exhibitors representing 350 companies from 18 countries occupying an exhibit area of 14,500 square metres. The two events will be held at the Abu Dhabi International Exhibition & Conference Centre and are organised by ADNEC (Abu Dhabi National Exhibitions Company).
“CONSTRUCT Abu Dhabi in only its third edition has witnessed remarkable growth in line with the rapid development of commercial, residential, tourist, road and airport infrastructure projects in Abu Dhabi as well as elsewhere in the region” said Ahmad Humaid Al Mazrouie, Managing Director of ADNEC.
“The value of new construction projects to be tendered to contractors in Abu Dhabi is expected to register an increase of 173% from AED 8.6 billion in 2005, to 23.12 billion this year. This trend will continue with AED 24.59 billion worth of new construction projects in 2007. CONSTRUCT Abu Dhabi is a prime opportunity for the industry to harness the potential in the rapidly expanding construction market in the UAE and beyond” he added.
“Value of all construction projects announced to date in the UAE is AED 624 billion. In 2005, the UAE dominated the Gulf construction sector with AED 130.6 billion worth of projects under construction accounting for 63.7 per cent of the total value of projects under construction in the GCC states. Saudi Arabia occupies the second slot with AED 28.9 billion, with Qatar (AED 16.88 billion) in third place followed by Kuwait (AED 12. 8 billion), Bahrain (AED 7.34 billion) and Oman (AED 5.1 billion)” he said.
ARABIAN PROPERTIES 2006 Exhibition & Conference held in parallel with CONSTRUCT Abu Dhabi focuses on the property sector and will have over 45 exhibitors showcasing over a hundred projects with a combined project value of over AED 100 billion.
The featured projects will include those from Abu Dhabi, Dubai, Sharjah and Ras Al Khaimah in the UAE as well as projects from Qatar, Egypt, Lebanon, Saudi Arabia, Kuwait, France, Spain, Australia, the UK, the US, Morocco, Cyprus, the Caribbean, Australia and HongKong.
“The landmark property law passed in Abu Dhabi in 2005 under the guidance of HH Sheikh Khalifa Bin Zayed Al Nahyan in his capacity as ruler of Abu Dhabi and new initiatives related to tourism and infrastructure projects in the region provided us with the impetus to launch ARABIAN PROPERTIES” said Al Mazrouie.
Stating that the property sector represented one of the most dynamic, secure and rewarding investment opportunities available worldwide, Al Mazrouie added, “The investment options in Abu Dhabi have expanded with the launch of several outstanding property projects. Also, a number of high net-worth Abu Dhabi residents have an interest in investing in property abroad. ARABIAN PROPERTIES provides an excellent forum for them to evaluate these investment opportunities from around the world”.
“Exhibitors at ARABIAN PROPERTIES will benefit from the opportunity to introduce and promote their projects to people who have an interest in property and the financial resources to fund these investments”.
Al Mazrouie also stated that the conduct of CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES 2006 in parallel, have made the two events a powerful sales, networking and knowledge-gathering platform for construction industry professionals, property developers and investors.
“Property developers on the one hand, get a chance to evaluate the latest products, services and technologies in the field of construction so that these can be incorporated suitably into their current and future projects. Construction industry professionals on the other hand, have an unmatched opportunity to interact closely with the region’s leading property developers” he added.
Residential and tourism property projects unveiled in Abu Dhabi over the last 18 months have exceeded expectations. Nearly 200 billion AED worth of projects including the Al Raha Beach Development (AED 53.94 billion), Al Reem Island Development led by the Shams Abu Dhabi project by Sorouh Real Estate, the Lulu Island Island Project, the Abu Dhabi Airport Expansion (AED 24.9 billion), Mohammed Bin Zayed City (14 billion AED), Najmat Abu Dhabi (AED 30 billion) development by Reem Investments, Between The Bridges Project (AED 800 million) and The Gate Project by Abu Dhabi National Hotels among others, have been unveiled. In addition, several other projects are expected to be announced soon.
The ARABIAN PROPERTIES FORUM, a conference organised by Datamatix and ADNEC, will take place on the 2nd and 3rd of April, 2006 in parallel with CONSTRUCT Abu Dhabi and ARABIAN PROPERTIES 2006. The Forum will be addressed by propery experts including Mounir Haidar - CEO, Sorouh Real Estate, Tarek Zakaria - Regional Manager MEA Region, ABB Industries, Alaa Hilal - CEO, Arabian Group, and Walid Khoury - Business & Projects Developer, General Electric among others.
CONSTRUCT Abu Dhabi 2006 and ARABIAN PROPERTIES 2006 are supported by the Ministry of Public Works, Department of Municipalities & Agriculture and the UAE Contractor´s Association. Sorouh Real Estate, Aldar Properties, Emirates Iron & Steel Factory and the National Bank of Abu Dhabi are the main sponsors of the events.