Dubai Land Department (DLD) is planning to explore new destinations, including Russia, for promoting the emirate’s real estate market through its flagship event, the Dubai Property Show.
The plan follows DLD's successful exhibitions in Hong Kong, London, Mumbai, and Shanghai, the last two of which generated AED1.2 billion and AED800 million of investments respectively, state news agency WAM reported.
The DLD has signed a memorandum of understanding with Sumansa Exhibitions, the organisers of the Dubai Property Show, with the aim of taking Dubai’s real estate opportunities further around the globe.
Under the agreement, DLD will be launching a Global Investment Promotion Plan to venture into key destinations around the world with the show and drive new investment in Dubai’s real estate market.
Majid Al-Marri, senior director, Real Estate Promotion Department at Real Estate Investment Management and Promotion Centre, the Investment arm of Dubai Land Department, said: "We are pleased to be reinforcing our strategic partnership with Sumansa Exhibitions at a time when Dubai’s real estate market is ideally poised to attract greater outside investment.
"Our partnership with Sumansa has already allowed us to reach important investment countries including China, India and London, and we look forward to exploring new avenues to build on this success," he added.
Sultan Al Suwaidi, partner at Sumansa Exhibitions, said: "Our experience with Chinese, Indian and British investors has been very encouraging and has convinced us to take the Dubai Property Show to further countries... we are now planning to explore Russia over the coming year."
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