Real estate projects worth $45 billion sustain interior design industry in emirate
July 15, 2006 (PRLEAP.COM) Lifestyle NewsFreehold and leasehold property laws allowing non-GCC expatriates to own homes in various emirates have rejuvenated the real estate market, bringing to end the uncertainties about properties already bought or booked. This in turn has paved the way for buyers to focus on the design and decoration of their homes.
For such buyers, the ideal opportunity comes in the form of Dubai Ideal Home Show (DIHS) that is scheduled to take place at the Airport Expo Dubai from November 30 to December 3, 2006.
Recent estimates suggest, that real estate projects worth US$45 billion are currently under construction in the emirate, with another $45 billion in the development stages.
The GCC and the Middle East regions have witnessed sustained buyers interest including from internationally renowned professionals following the move by Dubai back in 2002 to allow freehold property for expatriates. Major projects announced subsequently have seen most of the properties being bought by either investors or homeowners.
“The cultural and ethnic mix of Dubai and the neighboring regions offers businesses an opportunity to target their varied tastes at the Dubai Ideal Home Show,” said Messe Frankfurt’s Exhibitions Director, Christopher Hudson. “In order to address all aspects of a home, the show will have individual zones including Interior Design, Kitchen to Table, Home Tech, Arts and Crafts, Garden & Landscaping, Property and Festive Zones,” he added.
For homeowners who have bought property recently or who are planning to do so in the future, the show can present innumerable choices to design and decorate their place of dwellings.
The Dubai Ideal Home Show 2006 will have zones with special themes including Interior Design and Furniture Zone, Kitchen to Table Zone, Tech Zone, Arts & Crafts Zone, Garden Zone and Property Zone.
Recent trends indicate there has been a shift in the buying patterns with more buyers being homeowners than investors. This has been facilitated by the recent updated Dubai property laws, several attractive mortgage financing offers and an increasing availability of quality properties.
The Dubai Ministry of Planning predicts that at the current rate of growth, Dubai's population will almost double by 2010 to more than two million people, and by 2017 up to four million. In addition, the number of tourists visiting Dubai grew by almost 50 per cent from 2001 to 2004 to 5.4 million people, with Dubai government figures targeting 15 million visitors by 2010.
DIHS is an ideal platform for the several segments in the industry including Interior Design, Kitchen to Table, Home Tech, Arts and Crafts, Garden & Landscaping, Property and Christmas Wonderland. At last year’s show there were more than 200 exhibitors and over 7,500 visitors who had a chance to choose and decide their home environment. The attendance and participation this year is expected to be much higher following the coming together of the two leading publishing houses in the UAE.
Issued on behalf of Messe Frankfurt by BIZ COM.
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