The International Real Estate and Investment Show (IREIS) – dubbed as the longest running property exhibition in Abu Dhabi – ended on 4 November, 2017 with a positive response from property buyers and investors from the UAE. IREIS 2017 showcased more than 300 projects of about 120 reputed real estate and investment companies from the UAE, USA, UK, Canada, Europe, Pakistan, and the Caribbean Islands.
The show began with a ceremonial inauguration by His Excellency, Khalifa Bin Salem Al Mansouri, Undersecretary of the Department of Economic Development. The three-day event also witnessed the attendance of international VIPs including H.E. Akram Khan Durrani, Pakistan’s Federal Minister for the Ministry of Housing and Works, H.E. Joaquim Moreira de Lemos, Ambassador of Portugal to the UAE and H.E. Emmanuel Nanthan, Head of the Citizenship by Investment Unit of Dominica.
IREIS 2017 presented investment opportunities in residential, commercial, retail and leisure sectors which drew tremendous response from investors. The three-day show saw investments ranging from USD 1 million to USD 9 million among leading participants’ latest property developments, with an overall expected sales summing up to USD 220 million.
The 7,300 sqm exhibiting area housed major participants at IREIS 2017 including G&Co Properties, Majid Al Futtaim, ARADA, FAM Holding, Danube, DAMAC, Tiger Properties, and leading agents of Dubai Properties and Emaar Properties. The show drew 8,600 quality visitors who are looking at investments locally and abroad.
“IREIS 2017 served as the ideal platform for Danube,” said by Dino Daniel, Business Development Manager of Danube Properties. “Most of our clientele are from Abu Dhabi and we were able to secure unprecedented exposure and network with some of the leading professionals of the industry. With our participation we promoted our newly launched projects in Business Bay and have been able to generate interest within the local community of Abu Dhabi. Danube recorded an AED 1.9 billion inventory last year and this year we are looking to double it”.
Gold Pillars Properties, authorized agents of Emaar Properties, were among the major participants of the exhibition. Mahmoud Al Tamimi, Sales and Business Development Director of Gold Pillars Properties commented, “2017 has been a very good year especially for developers. The 3rd quarter of the year was an eventful one for us, having more handover of units. Now we are focusing more on offering affordable units with regards to the increasing demand for this type of development. Moreover, the International Real Estate and Investment Show is a way for us to present our company in Abu Dhabi and generate interest in Emaar’s properties in Abu Dhabi”.
Mohamed Akbik, Sales Manager of FAM Holding discussed the offers they highlighted during the exhibition, saying, “With our participation in IREIS 2017, we have received a favorable response among potential clients and visitors who are looking to invest on properties in the Emirates. We are excited to unveil our latest launches – our new tower in Sharjah and our soon-to-rise resort in Al Marjan Island, Ras Al Khamiah – along with our exclusive payment plans at IREIS 2017.
G&Co. Properties’ Head of Sales, Rohit Saluja explained, “At IREIS, we were able to highlight our phenomenal 10-90 payment plan where you pay 10% now and 90% to be paid on handover. IREIS provides an extensive insight for property developers like us on the latest market trends and gives us a first-hand opportunity to grasp interested investors Out of the 90%, 75% is available as guaranteed finance from us. Visitors also had a look at our property portfolio where we exhibited Cassia at the Fields, an array of villas in Mohammed Bin Rashid City ideally for families”.
Mr. Mohanad Alwadiya CEO of Harbor Real Estate and Advisor at the Dubai Real Estate Institution said, “I am so happy that IREIS is back given that it is the oldest real estate and investment show of Abu Dhabi. It has made a comeback at an important and strategic moment in time as 2017 is the year for capturing opportunities before 2018 and 2019 that leads up to Expo 2020. In addition, the variety of exclusive special offers, discounts, added values, payment plan schemes that were available only during the three-day show were truly unrivalled”.
“I am highly impressed with the positive feedback garnered from investors and visitors. I also found the timing and duration of the exhibition to be relevant. Unlike most real estate exhibition, it is occurring during the weekend making it ideal for buyers and families that can utilise the unique opportunities the show presents itself with”.
Among the associated events were the Residency & Citizenship by Investment pavilion where international real estate experts presented various potential investment options and answered queries on real estate investment abroad. IREIS also hosted a panel discussion- ‘International Residency & Citizenship Conference 2017’ where leading domain experts such as Arton Capital, CS Global Partners, Apex Capital Partners, REAL21, Chetcuti Cauchi, SKIPA and Invest Turkey talked about opportunities of procuring residency permits and citizenship in these countries through property investment.
Micha-Rose Emmett, CEO of CS Global Partners commented, “There is no substitute for engaging with potential applicants or collaborators in person. At this year’s event we have been fortunate to have meaningful interactions with people from across the globe – all of whom have a strong desire to live a more mobile life with greater opportunities for investment.”
Guests were also privy to the International Investment Meet that saw the participation of representatives from USA, UK, Turkey, Georgia, Cyprus, Malta, St Kitts and Nevis, Portugal, Greece, Grenada, St Lucia, Antigua & Barbuda, Spain, Bosnia and Dominica.
IREIS 2017 is an annual show that presents investment opportunities for high net worth individuals who intend to invest in local and international real estate, and premium luxury properties. Regarding the recent interest in international investment, Antoine Georges, Managing Director of Dome Exhibitions, Organisers of IREIS 2017 said, “UAE’s residents are increasingly looking for good realty investment opportunities both in UAE and abroad”.
Record low interest rates, easy payment plans, direct B2C engagement, and a diverse portfolio of a range of projects have been cited as the factors behind the fuelled growth of the real estate show. “The UAE Market is currently showing an upward trend in the last quarter of 2017, making it a desirable location for inward investments. In addition, the Expo 2020 is a catalyst in the real estate market that is attracting investments from all over the world,” added Mr. Georges.