Aj­man Real Es­tate Con­fer­ence sheds light on mas­sive growth po­ten­tial

Kuwait Times - - BUSINESS -

DUBAI:

The Aj­man Real Es­tate Con­fer­ence 1, be­ing or­ga­nized by the Real Es­tate Reg­u­la­tory Agency - Aj­man [ARRA], the state-run in­sti­tu­tion man­dated with reg­u­lat­ing the real es­tate ac­tiv­i­ties and de­vel­op­ments in Aj­man, was in­au­gu­rated this morn­ing by Sheikh Ab­dul Rah­man bin Ali bin Khal­ifa Al Khal­ifa, Di­rec­tor Gen­eral of Sur­vey and Land Regis­tra­tion Bureau - Bahrain, Sheikh Mubarak Al-Otaibi, prom­i­nent busi­ness leader - Saudi Ara­bia and Mr Fa­rook Mah­mood,Founder Pres­i­dent and Vice Chair­man NAR - India Sil­ver­line Realty P LTD

Be­ing held un­der the pa­tron­age of H.H. Sheikh Hu­maid Bin Rashid Al Nuaimi, Ruler of Aj­man and Mem­ber of the UAE Supreme Coun­cil and in the pres­ence of HH Sheikh Am­mar Bin Hu­maid bin Rashid Al Nuaimi, Aj­man Crown Prince and Pres­i­dent of the Ex­ec­u­tive Coun­cil, the theme of the one­day con­fer­ence at Aj­man Emi­rates Hos­pi­tal­ity Cen­ter fo­cused on ‘Sus­tain­able De­vel­op­ment Ac­cord­ing to Global Stan­dards’.

The con­fer­ence not only show­cased the Real Es­tate project pipe­line in the Emi­rate but also re­in­forced the Emi­rate as a sta­ble in­vest­ment des­ti­na­tion. The con­fer­ence was a huge suc­cess and brought 350 del­e­gates and in­vestors from across the GCC re­gion, India, South Asia, and Pak­istan among oth­ers and was aimed at har­ness­ing the po­ten­tial of the Real Es­tate sec­tor in the Emi­rate.

HE Yafea Al Faraj, Ex­ec­u­tive Di­rec­tor of Real Es­tate Reg­u­la­tory Agency Aj­man, said: “The ‘Aj­man Real Es­tate Con­fer­ence 1’ by Real Es­tate Reg­u­la­tory Agency - Aj­ma­nis a ma­jor step for­ward for Aj­man real es­tate sec­tor and co­in­cides with the strong growth on wit­ness in the Emi­rate. These are ex­cit­ing times for Aj­man, and the im­mense growth po­ten­tial on of­fer will get a ma­jor boost from the con­fer­ence.”

He added: “The real es­tate trans­ac­tion reg­u­la­tions in Aj­man have been tight­ened and es­crow ac­counts put in place. This, cou­pled with a sta­ble mar­ket, of­fers the right en­vi­ron­ment for in­vest­ments. Aj­man has over 18,000 ready-to-oc­cupy units avail­able in the mar­ket by re­puted de­vel­op­ers, at un­be­liev­able price points. We be­lieve the Emi­rate of­fers re­turns on in­vest­ments which are un­matched across the re­gion.”

The ‘Aj­man Real Es­tate Con­fer­ence 1’ was or­ga­nized in the midst of strong growth trends in the Aj­man Real Es­tate sec­tor. The Emi­rate has seen ro­bust real es­tate ac­tiv­ity in the year to date, with trans­ac­tions worth Dh1.5 bil­lion fi­nal­ized. More than 18,000 free­hold units were trans­acted dur­ing this pe­riod, up 39% com­pared to 2015.

The Con­fer­ence also of­fered ple­nary ses­sions and work­shops on the fu­ture of real es­tate and sus­tain­able prac­tices for real es­tate de­vel­op­ment in Aj­man. Be­sides high­light­ing the fu­ture of real es­tate in Aj­man, the con­fer­ence also shed light on the In­ter­na­tional prop­erty mea­sure­ment stan­dards, sus­tain­abil­ity in real es­tate projects, the role of so­cial me­dia in real es­tate mar­ket­ing and held ses­sions for own­ers’ as­so­ci­a­tion.

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