Real estate summit to discuss challenges and projects in Middle East

January 29, 2009 by OPPE News

Masdar City main

A Gulf real estate convention is gearing up to address what has been called the “toughest crisis” the industry has faced in the last ten years.

The Arabian World Construction Summit (AWCS) 2009, to be held in Dubai next month, will see builders and investment groups converge from across the region.

Organised by business consultants MEED, the event will involve 500 delegates and 60 experts from the world of real estate.

Besides discussing issues facing the sector, visitors will also get a preview of some of the upcoming property investment projects planned for the region.

Among the new real estate investment schemes under the spotlight will be Masdar City, pictured, and The Dynamic Tower in Dubai.

Richard Thompson, editor for MEED said: “The construction industry in the region has enjoyed dynamic growth over the past few years but we have witnessed demand stagnating for the first time in a decade following the global economic situation.”

Abdul Majeed Al Fahim, chairman of Pearl Dubai, and Sami Asad, chief operating officer of Aldar Properties, will be among experts leading discussions.

The event will be held from February 9 to 11 at the Emirates Palace Hotel, and will even feature a site visit to the Al Raha Beach investment development, just outside Abu Dhabi.

Real estate in Abu Dhabi is currently still in a rapid growth period as some of the region’s other property investment markets experience price corrections.