Dubai wins bid to host World Real Estate Congress

Hosting the World Real Estate Congress will contribute towards Dubai's maturing real estate market.

Dubai has won the bid to host the 69th edition of the World Real Estate Congress in 2018. The event will be held for the first time in the Middle East.

The debut congress in the region is expected to attract more than 1,000 real estate professionals from over 60 nations to explore the theme 'Future of Cities'.

This year's congress was held in Panama City, Panama, from May 21 to 26 under the theme 'Connecting Development for a Better World,' which focused on topics including affordable housing, real estate opportunities through globalisation, smart cities and international property ethics.

Dubai Business Events (DBE), the city's official convention bureau and a division of Dubai Tourism, in partnership with the Dubai Real Estate Institute, the education arm of the Dubai Land Department (DLD), made the announcement on Saturday about winning the bid for this real estate event.

The announcement also boosts the city's growth as a leading global hub for investment and contributes towards its maturing real estate market that strives on innovative developments and a healthy regulatory environment.

Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, said: "Our successful bid reflects the country's acclaimed top ranking as a global investment haven and the emirate's strengths in attracting and hosting international business events of the highest calibre."

Sultan Butti bin Mejren, director-general of the DLD, said: "The fact that the emirate has been chosen as the first city in the Middle East to host this event demonstrates how Dubai has emerged as the pre-eminent real estate hub for the region."

Bin Mejren added: "This World Real Estate Congress 2018 will strengthen Dubai's economy through attracting business and leisure visitors, and inward investment into the emirate not only from the region, but also from across the world, further building towards a continued maturation of the Dubai property market. Today's announcement also bolsters the Dubai Plan 2021, which aims to build a smart and sustainable city with strong infrastructure capable of supporting economic and social life and contributing to the emirate's future growth."

The World Real Estate Congress connects real estate professionals from around the world to discuss themes and trends that are driving the real estate market. It also provides a platform for sharing best practices in addressing evolving needs, sharing information and conducting international business. Delegates represent all industry sectors, including commercial, residential, luxury, retail and industrial.

- abdulbasit@khaleejtimes.com