Dubai property show opens to subdued demand

There has been a weak response to the opening of this year's International Property Show in Dubai, it has emerged.

The expedition, which began on Sunday, has seen far fewer visitors than when it was held last year, the Khaleej Times reports.

Dawood Al Shirawi of event organisers Strategic Marketing and Exhibition said that holding the event during the recession has been a "big challenge".

"Developers need to remain focused on their goal of continuing with the projects that they have already started and ensure that these projects are delivered on time," he told the news source, adding that Dubai is one city that is likely to recover from the credit crunch the fastest.

However, Abdullah M Al Shizawi of agricultural land firm Heart of Capital was less optimistic, stating that it could be take up to half a decade for the real estate industry to improve.

It was recently announced that Dubai's World of Discovery theme park, which is being developed by Nakheel, has been delayed by 12 months due to the credit crunch.

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