"A much awaited reality check has jolted the UAE property market to adopt positive business principles," says Shuckri Bundakji, MD of DSL Exhibitions and R&R (Realty & Realtors) suite of property industry brands. "With speculators freezing their activity, developers today are more focused on end-user segment, with service becoming a very important part of the product offering."

Ajman, 6th November 2008: The UAE real estate market is witnessing a transformation as developers focus on the bedrock of the market - the end user customer - which continues to demonstrate unabated demand due to the current rent squeeze they are experiencing. This was the message that came out of the R&R Local Property Show, which opened today at the Sheikh Zayed Center for Conferences & Exhibitions, Ajman University of Science and Technology, and will continue on both Friday and Saturday. The show is being held under the patronage of H.H. Sheikh Dr. Majed bin Saeed Al Noaimi - Head of the Ajman Amiri Court.

"Ajman, which has always played the underdog to Dubai's real estate, is suddenly in the limelight, thanks to a confluence of a number of factors, but most importantly, due to continuing end-user demand," said Tessa Morris, Marketing Director, DSL Exhibitions - organizers of the R&R Local Property Show. "As a market, Ajman has traditionally focused on mid-market units, offering affordable value to the consumers. Now, as the market accustoms itself to low speculator activity, a focus on service is becoming an important part of developers' strategy to attract the customer who is looking for property to live in."

Being well entrenched in the mid-market segment, Ajman is likely to continue to do well - particularly since real estate prices here have not swelled as they have due to speculator activity in Dubai. In that sense, the Emirate is well protected. End-user demand remains high due to very high rents across the UAE and this is likely to drive buyers to Ajman. While industry insiders believe that there will be an impact of the global financial crisis even on this market, it is expected not be as severe as elsewhere.

"We are very pleased at the positive response from the companies exhibiting at the show," commented Abdulla Al Noaimi - Event Director for the R&R Local Property Show. "They are confident in the potential to keep attracting the segment of the market looking for mid price property investments."

"In a market where end users are increasingly comparing the relatively growing cost difference between Ajman and Dubai, in comparison to the diminishing difference in quality of life offered by both emirates, Ajman is winning more on investor and end user confidence. This is true also when we look at the continuously faster sales phase completion of Chapal's projects in Ajman." Commented Jawad Chapal, Executive Director for Chapal

As an education partner to the event, Dr Salem Al Shafiei, Director of Dubai Real Estate Institute (DREI), said: "The UAE real estate sector is on the right track, evolving and maturing into a more dynamic industry. As a socially responsible organization and the first specialized academic institution dedicated to the development of real estate sector, we consider imparting knowledge and educating all stakeholders on global best practices is the key to raising regional standards. Awareness among the developers, investors and end-users is the key element that facilitates growth and we believe we are taking the industry in that direction."

Mr. Mohammed Hussein Al Nemer, board member and Chief Marketing Officer at Awali Real Estate Investments - Gold Sponsor of the show  commented on the show, saying: "Our participation in the Local Property Show is an important step in our strategic promotional plan for Awali City. The show correlates perfectly with the economic leap the emirate of Ajman is currently witnessing, which strongly indicates that government officials are keen to keep in touch with the leading entities in the real estate sector, and to stay up to date with the latest projects and developments.

"By participating in the event, Awali seeks to continually stay in touch with investors and those interested in the real estate sector, offering them the chance to take a closer look at Awali City project and to study the many opportunities it offers. In addition, the show will also pave the way for participating companies to exchange ideas and expertise, and to discuss the Emirati market, which could lead to increased growth and better development of projects", added Al Nemer.

Focus on affordability

The R&R Local Property Show is being held at the Sheikh Zayed Center for Conferences & Exhibitions, (Ajman University of Science and Technology) on Thursday 6th, Friday 7th & Saturday 8th November 2008 from 11.00am - 9.00pm. All major Ajman developments will be showcased with starting prices at 250 000 AED and monthly payment plans from 3000 per month.

Over 40 agents and developers will showcase thousands of properties for sale in Ajman and Northern Emirates and Dubai.

For more information - visit www.dsl.ae

-Ends-

About DSL Exhibitions:
DSL Exhibitions is an international exhibition and conference company that specialises in organising events in the Middle East. The company's mission is "to create an effective platform, in a conducive environment, to bring clients and consumers together in one location for a common purpose." DSL Exhibitions has many brands under which the company organizes its shows to keep up with the complexities of ever-changing markets. Their property exhibitions attract leading international developers, agents, lenders, mortgage brokers, lawyers and investment consultants.

About Raee Public Relations: is a boutique consultancy that offers tailored communication solutions that deliver results. Our research based approach ensures we are relevant to your business dynamic, while our regional systems ensure we are alert and coherent. Drawn from an international cross-section of journalism, PR and creative professionals, our team is fuelled by passion and guided by fact.

For more information, please visit our website: www.raeepr.com

For more information please contact: 
Tessa Morris,
Marketing Director
DSL Exhibitions
Ph: + 971 4 372 4288
Fax: + 971 4 3724299
Email: tessa.morris@dsl.ae
www.dsl.ae

Sana Lababidi
Media Relations Manager
Raee Public Relations
Tel:04 3415558
Email: sana@raeepr.com
www.raeepr.com

© Press Release 2008