Steep demand for properties in Dubai has been fuelled by the massive transformation of the booming city into a world class business, financial and leisure capital for a region of 1.5 billion people, according to Mohammad Al Gergawi, Minister of State for Cabinet Affairs.
He said during a visit today to the stand of Dubai Lands and Properties Department at the ongoing CityScape Dubai 2007 that the record economic growth achieved by Dubai had tremendously contributed in attracting major global firms.
''The UAE is currently experiencing a comprehensive civilisational renaissance through extensive development of health and educational sectors which are on the top priorities of the agenda of Vice-President and Prime Minister of UAE and Ruler of Dubai H.H. Sheikh Mohammed bin Rashid Al Maktoum, who views human being as the engine of development and the focus of UAE strategy,''he said.
He affirmed that the economic and construction progress currently being witnessed by the UAE in form of massive development of economic, sports and medical cities were mainly built to serve UAE and Arab citizens alike as per the vision of Sheikh Mohammed.
While touring the Department's stand, Al Gergawi commended the high sense of understanding and professionalism shown by the Dubai government entity in implementing series of real estate laws issued recently in Dubai.
This, he noted, had contributed to stability of the emirate's real estate market, making its more attractive for global suppliers of real estate services.
He added that the recently approved real estate law had had had positive impact on both market and sector.
He urged countries of the region to draw lessons from Dubai's experience in developing the legal framework that governs relationship between all players and stakeholders in the sector.
He called for more transparency in real estate laws and emergence of more regulators similar to the Dubai Real Estate Regulatory Authority.
Staged at the Dubai World Trade Centre, the exhibition, in its 6th edition this year, is the largest business-to-business real estate investment and development event in the world.
Cityscape Dubai 2007 attracts more than 45,000 regional and international investors, property developers, governmental and development authorities, leading architects, designers, consultants and all senior professionals from more than 120 countries. More than 500 exhibitors from over 30 countries are participating in the show. Source
He said during a visit today to the stand of Dubai Lands and Properties Department at the ongoing CityScape Dubai 2007 that the record economic growth achieved by Dubai had tremendously contributed in attracting major global firms.
''The UAE is currently experiencing a comprehensive civilisational renaissance through extensive development of health and educational sectors which are on the top priorities of the agenda of Vice-President and Prime Minister of UAE and Ruler of Dubai H.H. Sheikh Mohammed bin Rashid Al Maktoum, who views human being as the engine of development and the focus of UAE strategy,''he said.
He affirmed that the economic and construction progress currently being witnessed by the UAE in form of massive development of economic, sports and medical cities were mainly built to serve UAE and Arab citizens alike as per the vision of Sheikh Mohammed.
While touring the Department's stand, Al Gergawi commended the high sense of understanding and professionalism shown by the Dubai government entity in implementing series of real estate laws issued recently in Dubai.
This, he noted, had contributed to stability of the emirate's real estate market, making its more attractive for global suppliers of real estate services.
He added that the recently approved real estate law had had had positive impact on both market and sector.
He urged countries of the region to draw lessons from Dubai's experience in developing the legal framework that governs relationship between all players and stakeholders in the sector.
He called for more transparency in real estate laws and emergence of more regulators similar to the Dubai Real Estate Regulatory Authority.
Staged at the Dubai World Trade Centre, the exhibition, in its 6th edition this year, is the largest business-to-business real estate investment and development event in the world.
Cityscape Dubai 2007 attracts more than 45,000 regional and international investors, property developers, governmental and development authorities, leading architects, designers, consultants and all senior professionals from more than 120 countries. More than 500 exhibitors from over 30 countries are participating in the show. Source
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