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Saturday, October 27, 2007

Malaysian property players make their mark at Cityscape Dubai

By New Straits Times

THE Malaysian pavilion at Cityscape Dubai, a real estate expo, may be small with only six companies participating but the enthusiasm shown by these exhibitors has succeeded in attracting potential investors.

The companies comprising real-estate developers, architects, interior designers and those involved in children games and theme park equipment received more than 408 enquiries during the three-day event where about 1,000 exhibitors displayed a dazzling variety of real-estate projects.

They recorded sales under negotiation of over RM1.75 billion while actual sales reported stood at RM7,000, said Malaysia External Trade Development Corporation (Matrade) Dubai which organised the pavilion.

Trade commissioner Noraslan Hadi Abdul Kadir said this was the fourth time Malaysia participated in Cityscape Dubai, the region's largest real estate event which ended last Thursday.

The exhibition, which attracted over 45,000 real estate professionals and investors from more than 120 countries, was a good platform to boost investments in Malaysian companies, he said in Dubai on Tuesday.

He said that Dubai, which is at the forefront of construction activities in the region, has ongoing projects valued at around US$100 billion (RM335 billion). "Another US$50 billion (RM167.50 billion) worth of projects in other parts of the United Arab Emirates and the Gulf states were launched during the show," he added.

Last year, the construction sector contributed 10 per cent of Dubai's non-oil gross domestic product and it has been growing by an annual average rate of 5.4 per cent for the past 10 years.

Hadi said the construction sector in Dubai had benefited from the consistent growth in population, trade and tourism.

"As a result, much of the construction activity in recent years has focused around both residential and commercial properties such as building of hotels, resorts, leisure facilities and shopping malls," he said.

The companies which took part in Cityscape Dubai were Arch Collection Sdn Bhd, MK Land Holdings Bhd, Maymont Development Sdn Bhd, Park Games Equipment (M) Sdn Bhd, Unique Green Recreation Sdn Bhd and Veritas Architects.

The Malaysian Institute of Architects also participated. - Bernama

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