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UAE real estate sector is highly lucrative |
The Middle East is witnessing record growth in property development and the UAE is leading the way largely due to its open and global approach to design and construction. This progressive way of thinking has made the real estate and construction sector a thriving and sustainable sector.
Eckhard Pruy, CEO, Epoc Messe Frankfurt, said, "From properties with spectacular views of the sea, golf course or the lagoons, the focus in the highly competitive residential construction market of the Middle East has now shifted to high-end interior designs".
According to industry sources, GCC direct commercial investments in international real estate will grow by nearly 50% in 2008 to reach $20 billion from $14.5 billion in 2007. The demand for commercial space is also expected to grow annually by about 6 million sq ft till 2009.
