Property development giants dismantled their stands at the end of an international real estate show in Abu Dhabi yesterday after netting more than Dh20 billion and revealing major projects for potential investors.
Despite a surge in property prices because of strong demand and soaring construction costs, real estate has remained the most profitable sector in the UAE, while developers were surprised at the rush by potential buyers from the UAE and other countries.
Exhibitors at the four-day Cityscape Abu Dhabi described the rush at the sprawling Abu Dhabi National Exhibition Centre as a stampede and some had to cordon off their stands and recruit scores of security men to restore discipline. Besides property companies, banks benefited from the show as hundreds of clients were seen queuing at their stands for mortgage loans.
SOURCE: Emirates Business 24/7 – Cityscape rings up sales worth Dh20bn.