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IPS 2007 to have strong showing by major players in regional property and home financing industry |
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1/16/2007 1:47:48 PM |
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Reflecting the explosive growth of the regional real estate industry and the consequent demand for innovative and flexible financing options in the UAE, the forthcoming International Property Show (IPS 2007), the comprehensive annual trade exhibition for international and Middle East property markets, will witness a strong showing by key players in the regional property and home finance industry.
Scheduled to take place from April 3rd to 5th, 2007 at the Dubai International Exhibition Centre (DIEC), IPS 2007 in its role as the region’s path-breaking property event, will put up an extensive showcase of home financing plans and mortgage schemes devised by regional banking and finance institutions, led by industry pioneer Amlak Finance. This significant presence of such leading players in the Middle East at IPS 2007 is consistent with industry growth forecasts which predict that the booming property mortgage market in Dubai will touch AED17.5 billion this year.
As the only licensed transactional property exhibition in the region, IPS 2007’s decision to serve as an effective industry platform by according prominent space for the growing home finance institutions is timely. IPS 2007 targets growing demand for effective and flexible financing options from the broad range of property investors and end-purchasers, seeking to benefit from the recent opening up of the emirate’s property market and the new property ownership laws, which have given further boost to the domestic home finance sector.
“The real estate and property sector in the UAE has flourished in recent years, reflecting the remarkable economic progress the country has achieved over the decades. Our decision to market our home financing solutions at IPS 2007 is in response to the exponential growth of Dubai’s real estate market and the resultant boom in the home finance sector,” said Khalid Zainal, Head of Retail, Amlak Finance. “Analysing last year’s industry feedback and footfall figures, we are confident that IPS 2007 will serve as the ideal platform for us to showcase our Shariah compliant products and reach prospective investors.”
Founded in 2000, Amlak Finance is the first mortgage company in the Gulf to bring a totally new but universally accepted concept in residential property financing to the region. Amlak Finance serves the expatriate and resident property market and fills a vital gap in the range of financial services available to potential homeowners in the UAE and Egypt.
“With the region's economies returning massive budget surpluses and numerous world class developments either already under construction or fresh off the drawing board, IPS 2007 is becoming the most eagerly anticipated property event of the year. Having increased the amount of exhibition space by 35 per cent this year, IPS 2007 will make a positive contribution towards the further growth of the home financing industry,” said Dawood Al Shezawi, Managing Director, Strategic Marketing & Exhibitions.
”We are looking to differentiate IPS from other real estate trade exhibitions by hosting an exceptionally strong exhibitor base encompassing the entire spectrum of real estate activities, including developers, brokers and service providers. The support of Amlak Finance as a platinum sponsor will expand the show's reach and increase its broad-based appeal,” concluded Al Shezawi.
About Amlak:
Amlak Finance PJSC (Amlak) was established in November 2000 as a wholly - owned subsidiary of its still major shareholder Emaar Properties PJSC (Emaar). The Company ceased to be wholly- owned in 2003 following a tripling of the capital base. An IPO was held in January 2004 and the Company was listed on the Dubai Financial Market in March 2004. Emaar currently owns 45% of the Company. No other shareholder has a stake of 5% or above. As at end 2004 non-national shareholders held an aggregate 22.8%.
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