Bishoy Azmy
CEO of Al Shafar General ContractingYou said “The UAE’s construction industry is presently valued at more than a trillion dollars and even as we speak new projects are being planned and announced.”
Robert Lee
Nakheel Managing Director for investment projects of Nakheel The universe is our future. That is basically our plan for the future as to what’s coming next. It is a new waterfront development or community that is going to be 10-15 years down the road. What’s important is that it’s showing the grand master plan: what’s possible and where there’s more and in that spirit we’re saying look: this is what is coming up, this is how we are solving some of the issues and this is how it’s going to look like as sharing our grand master plan.
Dr. Sulaiman Al Fahim
CEO of Hydra PropertiesThe way Abu Dhabi is growing is by supporting the industrial zones and cities, by improving the ports, creating new university cities and media cities; that will support the real estate. We are going to see how Abu Dhabi will be for the next ten years; the prices are going to go up and appreciate. Also, demand won’t match supply; there will be much more demand than supply.
Merwiss Azizi
Founder and Chairman of Azizi InvestmentsFirst, thank you very much. My story is that I left Afghanistan in 1988. At that time there was a war with the Russian army inside Afghanistan.
Dr. M Taheri & Steve Nosrat
CEO of Azizi Investments and Marketing Director of Azizi InvestmentsThe report by EFG-Hermes estimates that more than 100,000 new apartments will hit the market by 2008 alone and that the total supply of housing in Dubai will double by 2010.
Imad Dana
CEO of Al ZorahAl Zorah development is worth 220 billion U.A.E. dirham ($59.9 billion) will be a 12-kilometer squared self-contained city with housing, offices, retail, schools, hospitals and leisure facilities, including marinas and a number of 5-star resort hotels completed in different phases and within a time frame of seven to 15 years.
Syed Mohammad Ali & Najia Mahboob
CEO of Fortune Group and Director of Business Development of Fortune GroupMoody’s believes that the region’s property boom is driven by strong fundamentals and rules out that the bubble being built could be pierced.
Andrew Chambers
Managing Director of AstecoDecree No.27 for 2007 states that “rent will be capped by 5%, which is a drop of 2% from 7% last year. In 2008 we have seen the rent lower from 7% in 2007.
Muath A. Jalil
General Manager of Rasyat Real EstateI am not saying we are only short – we are suffering from the short supply. To recover from that short supply, we need a minimum of more than 6 years of development to cover such a supply. As has been planned by one of the codes of the Urban Planning Council, so far up to this year, there is a 270 billion US dollars project launch, and there is another one expected within the next two years of 190 billion US dollars, to be launched again for more projects.
Lesley Sayle
Central Project Officer of Union PropertiesMotorcity is the first project of its kind in the world. It’s been operational for about three and a half years. It started with the Dubai Autodrome, which is the racetrack. It’s developed into a development that consists of five components. Dubai Autodrome is the first one that we launched, about three and a half years ago, and we’ve been hosting a number of races; there’s also the race school with a race track.