Construction sector pumps $3.6bn to Dubai economy

February, 17th 2015

The construction sector contributed 7.89 per cent – or Dh13.4 billion ($3.64 billion) – to Dubai’s gross domestic product (GDP) of Dh170.7 billion ($46.4 billion) in the first half of 2014, according to latest figures.

The figures from the latest report from the Dubai Statistics Centre were brought into the spotlight by the organisers of the International Property Show while announcing the biggest edition of the event to be held from March 30 to April 1 at the Dubai International Convention and Exhibition Centre.

Strategic Marketing & Exhibitions, organisers of International Property Show, said that the event was designed to help promote the sector to international and regional investors, decision makers and trade and retail visitors coming from around the world. The organizers expect end-users, property retailers and small budget investors to conclude attractive deals on the exhibition floor over three days.

“The fact that the construction sector contributed 7.89 per cent to Dubai’s GDP in the first half of 2014 demonstrates the dynamic growth potential of the Emirate’s real-estate industry and related sectors,” said Josine Heijmans, exhibition director, Strategic Marketing & Exhibitions. “We believe this is partially linked to the booming retail segment.”

“It gives high levels of confidence for trade visitors when they know that the exhibition’s main partners include the Real Estate Regulatory Agency (Rera), Dubai Land Department (DLD) and Dubai Real Estate Institute (DREI), as well as other strategic partners such as the Association of International Property Professionals (AIPP) and the Royal Institution of Chartered Surveyors (RICS),” Heijmans added.

International Property Show helps to find the right fit for retailers according to their needs and price range. The show organisers’ deep understanding of the market dynamics and economic conditions, as well as business and investment trends, enables them to produce a first-class event.

Heijmans added: “We are fully equipped to better serve our retail clients backed by our market insight, valuable connections and up-to-date retail property information.”

The exhibitors at International Property Show will offer services like commercial real estate sales, leasing, consulting, relocation & expansion assistance, retail space utilization and efficiency consulting, asset acquisition and disposition in addition to a broad range of residential real estate services which will also be on offer at International Property Show.

Source: www.tradearabia.com