photo credit: Jean & Nathalie
Russian property investors are expected to become the next big players in UAE property and will inject $1.5 billion into the Dubai market this year, experts say.
The organisers of International Property Show Moscow 2008 said they were planning the event to attract more Russian cash to the Middle East.
Strategic Marketing and Exhibitions (SME) also declared it was particularly interested in attracting “high net-worth individuals”.
SME managing director Dawood Al Shezawi said:
“The high potential of Russian-based investors to make large-scale investments into the booming Dubai real estate market has prompted us to bring the ‘International Property Show’ to their market.
“The property market in the UAE is witnessing continuous growth with a mix of local, regional and international investors intensifying current market activities, thereby creating an exceptionally aggressive market that is approaching record prices.”
SME’s November 10 to 12 event, based in the Crocus Expo International Exhibition Centre, Moscow, is expected to welcome over 100 exhibitors and more than 15,000 trade visitors.
The firm added over 800 Russian investors have bought both commercial and residential properties in Dubai in the last few years.
SME launched the International Property Show in 2005 as an annual event originally held only in Dubai.
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