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Dubai Markets its Properties at Shanghai Show

Dubai Markets its Properties at Shanghai Show

Wednesday, 29 August, 2018 - 09:15
Chinese nationals are among the top 10 investors in the Dubai property market
Dubai - Asharq Al-Awsat
The Dubai Land Department (DLD) is organizing this month the 8th Dubai Property Show that is set to be held in the Chinese city of Shanghai for the second time.

DLD said it has collaborated once again with Sumansa Exhibitions “for this unique real estate showcase of Dubai realty.”

“The best real estate developers will attend the event in Shanghai this year to promote Dubai as a real estate investment destination to Chinese investors,” it said.

The exhibition will be held at the Shanghai Everbright Convention & Exhibition Center from August 31 till September 2.

According to DLD, Chinese investors pumped up to AED 14.3 billion (USD 3.8 billion) into the Dubai property market and are among the top 10 investors.

These property transactions are also projected to increase thanks to Chinese nationals being granted their visas on arrival to Dubai, it said.

Majida Ali Rashed, Assistant Director General, Head of the Real Estate Investment Management and Promotion Center, described Dubai as one of the most attractive cities for foreign investors.

“DLD is always looking for ways to further strengthen the Emirate’s position in achieving the sustainable growth of its real estate sector,” she said.

The property show in Shanghai comes as Dubai developer Emaar announced last month plans to build the Middle East’s largest Chinatown within the retail district of its mega development Dubai Creek Harbour.

The retail precinct will occupy a central location within the 6 sqkm mega project and will feature local brands and global fashion brands that appeal to Chinese tourists, it said.

The company also announced that it will open three dedicated pavilions in China – in Beijing, Shanghai and Guangzhou – to promote tourism, education, trading and investment between the UAE and China.

Chairman of Emaar Properties Mohamed Alabbar has said that “the UAE and China share strong bilateral trade and cultural relations, which are bolstered by the presence of over 200,000 Chinese citizens who live in the UAE and the hundreds of thousands of Chinese visitors that the nation welcomes annually.”

"The development of the new Chinese retail and lifestyle district at Dubai Creek Harbour - as well as Emaar’s expansion into China, both in property and hospitality - highlight our commitment to the country, and our focus on contributing to the strength and success of UAE-China relations."

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