Esbaitah: Cityscape comes at a time of market rejuvenation
Cityscape 2009 more important than previous editions
Cityscape 2009 marks first cornerstone for investors to begin activities
Cityscape 2009 offers opportunity to measure real estate movement and showcase latest property sector achievements
Dubai- 28 September 2009: Al Mazaya Holding announced today that it will be participating in the upcoming Cityscape Dubai 2009 exhibition, which will be held at the Dubai International Convention and Exhibition Center from 5 to 8 October 2009.
Al Mazaya sees this year's Cityscape - the 8th edition of the exhibition - as more important than previous installments because it comes at a time where the market is making its breakthrough recovery after a tiring time of economic hardship.
Eng. Khlaid Esbaitah, Al Mazaya Managing Director and CEO, says of his company's participation in Cityscape 2009, "Stable real estate dealings, the decline of price slumps during Q2 of 2009, as well as the merger of big real estate companies and the increased launching of new residential units, which are estimated to reach 22,400 units in 2009, have greatly contributed to the stability of Dubai's real estate market, despite the cancellation and halting of many projects. We expect these factors to result in the return of big investors to the property market with a brand-new array of investments at Cityscape Dubai 2009".
"Our participation in Cityscape 2009 reflects our full support of the Dubai government's plans to rejuvenate the property sector, as the leadership of Dubai has taken significant steps to restore market stability. The Dubai Land Department's strategic goals, presented by the launching of commercial complexes, are aimed at establishing strong partnerships between the Dubai Real Estate Regulatory Authority (RERA) and developers, investors and mediators in the market in order to practically reorganize the real estate activities in Dubai," continued Esbaitah.
He went on to say that the launch of Dubai Metro's Red Line, along with the launch of Burj Dubai, the world's tallest building, and the reorganization of several real estate companies, such as Dubai Holding, should serve to further strengthen the emirate's property sector.
Speaking of the exhibition, Esbaitah said that Cityscape Dubai is not an ordinary exhibition; it sets the stage for the latest updates in the property markets, as well as offering an opportunity to measure movement in the real estate sector. He noted that this year's edition is considered a great support for all Al Mazaya projects, both those that are still under development and those that have already been completed.
Al Mazaya will be showcasing four projects at Cityscape Dubai 2009 - The Villa residential project in Dubailand and the Al Mazaya Business Avenue at Jumeirah Lake Towers, as well as the 7 Zones and Clover Clinics projects, which are located in Kuwait.
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About AL MAZAYA:
Al Mazaya Real Estate Development Co., listed on the Kuwait Stock Exchange and Dubai Financial Market, created a distinctive place for itself in the economic sector through the implementation of several major and vital projects across the region. The company provides comprehensive real estate services and products across various fields, including housing projects that include high class and deluxe villas, vertical flats and accommodation buildings, office buildings and the purchase and apportionment of large spaces in selected areas. The company's record includes a number of outstanding projects. In Kuwait this consists of, (but not exclusively): Al Maha Villas, 7 Zones, Al Roya, Clover Clinic, and Kuwait Business Town. In Dubai their projects includes (but not exclusively): The Villa, Dubai Healthcare City, The Icon (1&2), Sky Gardens, Al Mazaya Business Avenue and Queue Point at Al Liwan, in addition to several other projects in Lebanon and Jordan. Al Mazaya Holding has conducted several feasibility studies for strategic investment in number of property markets and has investments in others such as KSA, Bahrain, Oman and Qatar, with the aim of achieving high returns.
For more information, please contact:
Serine Srouji
SAHARA Communications
Tel: +971 4 3298996
Fax: +971 4 3298995
Mob: +961 3 581 208
Email: serin@saharagcc.com
www.saharagcc.com
© Press Release 2009
