Against a backdrop of a recovering real estate market in the UAE and an improving economy, Dubai has managed to put yet another feather in its cap by winning the bid to host the 69th World Real Estate Congress in 2018. For Dubai, this marks an important period of change and learning that can usher in an era of prosperity for the region.
Recently, Dubai Business Events (DBE), the emirate’s official convention bureau and a division of Dubai Tourism, struck a partnership with the Dubai Real Estate Institute (DREI), the education arm of the Dubai Land Department (DLD), made the announcement to host the 69th World Real Estate Congress. The event will be organised by the International Real Estate Federation, FIABCI, and will be held in the Middle East for the first time. The event is expected to attract more than 1,000 real estate professionals from over 60 nations who will put their heads together to discuss the ‘Future of Cities’.
The global event which will be jointly held by DBE and DREI has further enhanced Dubai’s image as an ideal international business hub which can accommodate a vast number of business events. In addition, Dubai also has a strong investment culture made possible through a large number of real estate transactions which in turn reinforced the real estate sector over the years.
All said, Dubai finds itself in a perfect position to benefit from holding the World Real Estate Congress. The event not only provides the best platform for sharing ideas and information between professionals of the highest calibre, but, by doing so, the emirate will expand its knowledge base and quickly find the momentum to transform into a global knowledge city.
Presently, Dubai is internationally recognized as the most cosmopolitan city in the world, thus allowing it to make an attempt at becoming a smart city as well. These factors have been very instrumental in driving the emirate on the path of achieving economic stability which improved the quality of life for residents over the years.
The World Real Estate Congress’s impact on Dubai’s economy is further evident from the fact that the event will pull in businesses and visitors. This will further attract local and international investment into Dubai and lead to the maturation of the realty sector on the home front. In the long run, the emirate can greatly improve its chances of becoming a smart and sustainable city.