UAE sees increased interest

The increased attendance at this year's Cityscape real estate expo in Dubai indicates interest in UAE property is growing, it has been suggested.

Organisers of the event said the number of attendees in the first two days equalled the total of the whole three-day expo last year, the Associated Press reports.

While Dubai thronged with potential property buyers, Abu Dhabi saw the unveiling of a tower branded by former racing driver Michael Schumacher.

Robert Troup, the managing director of architecture firm Aedas, said the mood in the emirates was "upbeat", telling the news provider: "There's a lot of confidence in the region. Both Abu Dhabi and Dubai have development plans in place and they'll see those plans through."

Another official, executive director of ETA Star Abid Junaid, told AFP News that if there is a property correction in Dubai soon it will be confined to the "uppermost end" of the sector.
 

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