DUBAI, The Dubai Land Department, DLD, has announced the launch of Dubai Property Festival, DPF, a three-day sales and purchase event to be held at the Dubai World Trade Centre from 9th to 11th April, coinciding with a series of events in Dubai aimed at attracting global investment to the UAE.
The three-day festival is expected to generate considerable buying and selling activity by hundreds of participants including property developers, brokers, lenders, mortgage providers, investors and home buyers. DPF will help to further stimulate the emirate's buoyant real estate sector.
During a press conference, Sultan Butti bin Mejren, Director-General of DLD, said, "DLD plays a vital role in reshaping Dubai's real estate sector to help drive the economic vision of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. It is the duty of DLD to ensure that growth and prosperity continue in this sector and helps more buyers, investors and tenants to benefit from overall economic growth, as well as contribute to the activity of our economy.
"This festival initiative is in co-operation with the "International Property Show," and part of our ongoing efforts to support the real estate sector and provide an ideal environment for all relevant parties. We are confident that with this festival and beyond, the real estate sector will continue to grow and contribute to strengthening our economy."
Majida Ali Rashid, Assistant Director-General and Head of the Real Estate Investment Management and Promotion Centre, the investment arm of DLD, said, "We are delighted to launch DPF that will showcase Dubai as one of the top real estate investment destinations in the world. The festival will provide an excellent opportunity for investors, developers and buyers for strategic networking and do business in a safe and secure environment.
"The Real Estate Investment Management and Promotion Centre seeks to encourage investor confidence in the real estate market, attract investments to the Dubai real estate market and launch a variety of initiatives for investors. For example, our latest initiative was signing an agreement with a real estate brokerage office in China to promote the real estate sector in Dubai that will reach more than 1,000 Chinese real estate brokers, with the aim of promoting Chinese investment in the real estate sector in Dubai. Recently, we have also signed a similar agreement with a company in India."
Dawood Al Shezawi, Head of DPF Organising Committee, said, "The festival will be a game-changing initiative that will help a large number of tenants shift to own their homes and stop paying rent. On an average, a Dubai tenant can own his home by spending eight years of rental expenses on his property instead of paying them to a landlord. DPF will help the end-users make such a transition by encouraging property developers and brokers to offer the best deals and help the tenants to buy properties instead of continuing to rent."
Source: Emirates News Agency