DUBAI, 11th December, 2018 (WAM) — The Dubai Land Department, DLD, organised the LPS Shanghai, at the Shanghai Convention Centre, China.
The DLD was accompanied by a delegation of senior real estate developers in Dubai as strategic partners of the show, which took place from 7th to 9th December, 2018.
The Dubai pavilion was inaugurated at the LPS Shanghai in the presence of Rashid Matar Al Siri Al Qemzi, UAE Consul-General in Shanghai; Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at the DLD, and a number of senior developers from the UAE and the GCC. A meeting was held to bring together participating developers at the LPS Shanghai to strengthen relations between the DLD and its strategic partners, enhancing Dubai’s global reputation and position, and honouring their outstanding contributions to providing a bright picture of Dubai’s real estate market.
As part of the efforts of DLD’s real estate promotion trustees, a Memorandum of Understanding, MoU, was signed between UC Forward and Century 21 to promote Dubai’s real estate among Chinese investors in Shanghai. The LPS Shanghai attracted around 15 thousand VIPs interested in luxury real estate, products, and services that were provided by 200 exhibitors from 35 countries.
Rashid stated, “In line with Dubai Plan 2021 to make the emirate the preferred place to live, work, and visit, Chinese investors have the opportunity to invest in the most important real estate hub in the world, especially as Dubai provides a range of options for investors, ranging from studio apartments to luxury properties designed to meet the needs of a wide range of investors. The Dubai Government is working to provide facilities and incentive initiatives for the benefit of investors.”
“The DLD provided a distinguished pavilion to promote Dubai’s luxury properties through real estate developers, especially as Chinese investors rank high on the list of top nationalities investing in Dubai’s real estate market where they ranked sixth according to a recent report issued by DLD. Since 2006, Dubai has attracted around 6,000 Chinese real estate investors in Dubai, who now own 10,844 properties valued at nearly AED16 billion. Chinese investors numbering 937 entered the market with 1,124 transactions worth over AED1.65 billion between January and September 2018,” she explained Rashid said that the DLD has developed many smart applications to serve investors, saving them time and effort, and reinforcing Dubai’s global position as the preferred destination for living, working, and investing. These applications include the Smart Investment Map application that attracts key investors for available projects, enabling investors to access investment projects through their smart devices; the Dubai Brokers application, which provides accurate information on licenced and accredited brokerage offices, and Mashrooi, which was designed for real estate developers and investors to provide information about developers and escrow accounts.
“Last July, the UAE-China Week was held to celebrate the cultures of the two countries, resulting in recent changes such as granting Chinese citizens visas upon arrival in Dubai and providing direct flights to 13 Chinese cities, increasing the attractiveness of the UAE and Dubai to investors,” she added.
Several local companies recorded a significant presence at this global event, including Meraas, Dubai Properties, DAMAC, Falconcity of Wonders, Meydan, Sobha Realty, Rukan, RICHLAND, Danube Properties, Al Habtoor City, Fidu Properties, AlDar, Fam Holding, Jumeirah Luxury, Global 99, Hamptons International, ELLINGTON Properties, and Al Barari.