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Sat 11 Mar 2006 04:00 AM

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UAE developers descend on Cannes

UAE developers set to make up the lion’s share of Middle East developer contingent at the annual MIPIM in France

The largest ever contingent of UAE developers will descend on MIPIM this week — the world’s glitziest annual event for developers, contractors and property companies.

A total of 16 companies from the UAE are showcasing their projects at this year’s show — compared to just three from Bahrain, one from Saudi Arabia and none from either Oman or Qatar.

The big turn-out comes as an increasing number of local residential developers are targeting European-based investors. At the same time, several UAE-based developers have announced regional expansion plans in recent months.

Among the UAE contingent jostling for position this week in Cannes are Tameer, Aldar, Emaar, Union Properties, ETA Star Property Developers and Dubai International Properties, which has one of the largest stands at the show. An absentee from this year’s exhibitor list is Nakheel.

MIPIM spokeswoman My-Lan Cao, said: “Without doubt this is the biggest contingent from the UAE we have seen, and the number of companies participating in MIPM from the UAE is increasing every year.”

Dubai International Properties has the third-largest stand at this year’s show and is now one of the most internationally active of Dubai’s developers.

Its projects include Salam Resort & Spa in Yiti, Oman; Salam Beach Resort & Spa in Bahrain; Dubai Towers - Doha in Qatar; Dubai Towers - Istanbul in Turkey and a mixed-use urban community development, Amwaj, in Rabat, Morocco. But it will be showcasing its Business Bay and The Villas projects at MIPIM.

Meanwhile, Soldiere’s Marina Towers development in Beirut has become the first Lebanese residential project to be nominated for 2006 MIPM awards. The project is being developed in conjunction with property developer, Stow.

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