Kuwait Real Estate News

Al-Mazaya confirms participation in Cityscape Dubai 2009

Leading Kuwait-based real estate company, Al-Mazaya Holding, has confirmed its participation in the forthcoming Cityscape Dubai 2009 Exhibition, due to be held between 5th and 8th October 2009 at the Dubai International Convention and Exhibition Center. According to Al Mazaya, this year’s Cityscape (8th edition), comes at a time when the market is making its breakthrough recovery, following economic crisis. The Managing Director and CEO of Al Mazaya, Eng. Khlaid Esbaitah, speaking about the participation of the company in Cityscape 2009, said that stable real estate deals, decline in property prices during second quarter of this year, merger of property companies, and increased launches of new residential units have all immensely contributed to the stability of Dubai real estate market, despite cancellation of several projects. These factors may help in the return of big investors in the real estate market, with brand new series of investments at Cityscape Dubai 2009.

Esbaitah continued that Al Mazaya’s participation in the exhibition reflects the support by the company to Dubai Government’s initiatives in rejuvenating the property sector.

The strategic goals set by Dubai Land Department, presented by launch of commercial complexes are aimed at establishing strong partnerships between Dubai Real Estate Regulatory Authority (RERA) and developers, mediators and investors in the market to re-organize the real estate activities in Dubai, Esbaitah said.

This, coupled with launch of Dubai Metro’s Red Line, and launch of Burj Dubai, the world’s tallest building, and re-organization of several real estate companies, further strengthens the property market of the emirate, he added.

According to Esbaitah, Cityscape Dubai is far from being just an ordinary exhibition. It serves as the perfect platform for latest updates in property markets, offering opportunity to measure movement in the real estate sector.

Al Mazaya plans to showcase four projects at the Cityscape Dubai 2009, which includes The Villa residential project at Dubailand, Al-Mazaya Business Avenue at Jumeirah Lake Towers, apart from7 Zones and Clover Clinic projects in Kuwait.

This year’s event is a great support for Al-Mazaya products, for both that are under development and for those completed.

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