Middle Eastern developers 'upbeat' over property market

Property developers in the Middle East are remaining optimistic for the future of the sector despite the global economic downturn.

Speaking ahead of the opening of the Abu Dhabi Real Estate and Investment Show (IREIS) 2009, Antoine Georges, exhibitions director for event organisers Dome, stated that the economy in the UAE remains strong and that there are no plans for real estate firms operating in the region to cancel or postpone any of their projects.

"IREIS 2009 is of special importance because it is the first major real estate show to be held after the aggravation of the global financial crisis," he added, noting that the exhibition is expected to expand by 25 per cent on previous years, with approximately 100 firms attending from ten countries.

A similar event is also taking place in Dubai, with the International Property Show being held in the emirate's International Convention and Exhibition Centre next month, Aim 168 Real Estate reports.

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