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Dubai: Hundreds of potential buyers visited an international real estate show in Dubai looking to buy properties in some of the world’s most attractive locations.
Some 60 exhibitors from 34 countries are in the city showcasing properties at the three-day Worldwide Property Show, which began at the Grand Hyatt Hotel in Dubai on Thursday.
Mike Bridge, director of event organiser Dubai Shows, said there has been strong interest in destination like Morocco, Turkey, Thailand, the Philippines, Britain, Spain, and even Panama.
Running alongside the global show is the UAE-focused "Property Shopper," which features leading real estate brokers offering off-plan, resale and rentals available within the country.
Nasser Abdul Rahman Rafi, managing director of Hamptons International Dubai, said there is growing number of East Asian investors as well as small US and European investment funds buying property in Dubai.
"They complement the sustained interest from the traditional clientele from Western Europe, Eastern Europe, Iran, Sub-Continent and Arabia," he said.
Participants said Dubai has evolved as an important international property market recently with the introduction of regulatory practices and policies.
Adam Partridge of Sherwoods said over the last three years Dubai has become a unique property market, where property boom has been accompanied by a growth in tourism.
The Property Shopper event features 35 estate agents from across the UAE.
"We are delighted with the response from the UAE estate agents who have all participated in this new show," said Pooja Rajani, event’s director.
Jane Woods, director of business development at LLJ Properties said in the 18 months since the first properties in Abu Dhabi were marketed for sale to all nationalities, the company has witnessed substantial increases in off-plan property prices.
"Direct from developer residential prices on Reem Island have increased from Dh900 per square feet in late 2006 to over Dh2,000 per square feet, whilst re-sale commercial units are selling at Dh2,700 per square feet up from Dh1,700 per square feett at the end of last year," Woods said.
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