Abu Dhabi's real estate projects to hit US$500
billion
05-10-2008
UAE.
Abu Dhabi, the richest city in the world, has
seen its gross domestic product (GDP) soar from
US$40.6 billion in 2002 to US$108.9 billion in
2007 (more than 8% per annum). The booming real
estate and tourism sectors are playing a
significant part in this success story as the
total value of announced projects in the capital
inches towards the US$500 billion mark (AED 1.83
trillion).
It is at this crucial time that MEED, the
business intelligence expert in the Middle East,
and the Abu Dhabi Department of Planning &
Economy have announced details of its Abu Dhabi
2008 conference.
Contributing to the us$500 billion portfolio are
large-scale real estate projects such as Al Raha
Beach (AED 58 billion), Al Reem Island (AED 35
billion), Das Islands (AED 43 billion) and the
AED 100 billion Saadiyat Island development. Abu
Dhabi’s economic growth as a whole can also be
credited to the government’s determination to
diversify the economy away from its reliance on
oil and gas: non-oil and gas GDP has risen by
87% to US$43.3 billion over the past five years.
The pace and scale of economic growth in Abu
Dhabi presents huge challenges for all those
working to promote long-term sustainable
development in the capital. MEED’s Abu Dhabi
2008 conference will be an invaluable event for
everyone wishing to make the most of this
opportunity. The conference is supported by the
Abu Dhabi Department of Planning & Economy and
supported by the Abu Dhabi Chamber of Commerce
and Industry. Sorouh Real Estate, Abu Dhabi
Commercial Bank, Al Qudra and Burooj Properties
are Platinum sponsors, and HSBC and Pacific
Controls are Gold sponsors.
The Abu Dhabi Conference 2008 will be held at
the Emirates Palace in Abu Dhabi from 8 to 11
November.
This is the third conference of its kind and
presents a unique opportunity to listen to and
network with business leaders working within
urban planning, real estate, tourism and
culture, banking and finance, the environment,
transport, infrastructure, petrochemicals,
utilities, sports and leisure, education and
healthcare industries.
Edmund O’Sullivan, Chairman, MEED Events
commentED: “2008 is a crucial point in the story
of this great city and this event is essential
for all those involved in, and with a stake in,
its future success. This forum is an invaluable
opportunity for those at the cutting edge of Abu
Dhabi’s future to discuss its development.
“Away from the formality of the conference
rooms, networking is another key benefit of the
event. Unlike many others this conference allows
for exceptional contacts to be made, including
CEOs, VPs, CFOs and chairmen from the key growth
industries and government departments. We are
now in our third year with this event and it is
undoubtedly one of the most important
conferences in our calendar.”
Mounir D Haidar, CEO of Sorouh Real Estate, who
is speaking at this year’s event added: “MEED’s
Abu Dhabi Conference 2008 is for a key event for
Sorouh. Almost every stakeholder involved in the
development of Abu Dhabi will be present, which
is true of no other event of this size. As the
pace of Abu Dhabi’s growth accelerates, it is
important that there are forums such as these
for the continued sharing of experience and best
practice. We are all working towards one goal:
the successful growth and development of Abu
Dhabi."
Some key speakers addressing vital issues around
development include HE Al Soweidi, Chairman of
the Department of Planning & Economy; HE Waleed
Ahmed Al Mokarrab Al Muhairi, the Director
General of the Abu Dhabi Council for Economic
Development; Falah Al Ahbabi, General Manager of
the Urban Planning Council; HE Majid Al Mansouri,
Secretary General of the Environment Agency, Abu
Dhabi; HE Hussain Al Nowais, Chairman of the
Khalifa Fund; HE Salah Salem bin Omeir Al Shamsi,
Chairman of the Abu Dhabi Chamber of Commerce
and Industry; Jaber Hareb Al Khaili, CEO of
ZonesCorp; Mukhtar Hussain, Global Head of HSBC
Amanah and MENA Head of Global Banking and
Markets; and Mounir D Haidar, CEO, Sorouh Real
Estates.
Delegates for MEED’s Abu Dhabi Conference 2008
also have the opportunity to attend a
post-conference masterclass that will look at
the current state of the real estate market and
forecast growth trends; profitable investment
and development strategies; contract negotiation
and valuation techniques, contracts, and better
risk management.
UAE.
Abu Dhabi, the richest city in the world, has
seen its gross domestic product (GDP) soar from
US$40.6 billion in 2002 to US$108.9 billion in
2007 (more than 8% per annum). The booming real
estate and tourism sectors are playing a
significant part in this success story as the
total value of announced projects in the capital
inches towards the US$500 billion mark (AED 1.83
trillion). 
