Real estate developers from the Middle East are showing growing interest in investment and cooperation opportunities from China, Shanghai Daily has learnt from an ongoing B2B property investment and development forum which started yesterday at Shanghai New International Expo Center in Pudong.
More than 60 exhibitors from 15 countries and regions are taking part in the three-day Cityscape China 2008, a leading industry exposition open to architects, designers, banks and financial institutions, property advisers, investment promotion agencies, project managers as well as municipal and regional governments.
"Among all participants, some two-thirds are from overseas and 15, or about a quarter, come from the United Arab Emirates," said Graham Wood, exhibition director for Cityscape Asia and Cityscape China. "They wish to raise their corporate awareness, generate interest and look for joint venture partners through this kind of trade event."
Major property developers from UAE at this year's event include Meydan LLC, Fortune Group, ETA Star Property Developers LLC and Best Homes Emirates Real Estate.
While some companies from the Middle East are not newcomers to the event, more are making their debut in the country with grand projects.
Meydan LLC, a leading Dubai real estate developer, unveiled plans yesterday for Meydan, a landmark mega-development in the United Arab Emirates with a 76-million-square-feet racecourse, a 43-million-square-feet building complex, a gallery and museum, a five-star hotel, as well as a golf course, business park, marina and multiple recreational centers.
"This is the first roadshow held outside of Dubai for Meydan, which is set to become the latest of Dubai's impressive mega projects that have garnered the world's fascination and attention," said Saeed H. Al Tayer, chairman of Meydan LLC. "With a strong economy and rapid development of its real estate industry, China is a major part of the world where we would like closer relationships. We welcome investors from China to come and visit Meydan and be part of this incredible development."
Investors can now either buy land or properties including retail, residential and commercial developments in this mega project, due for completion by 2010, the company said.
(Shanghai Daily June 26, 2008)
