- World’s Biggest B2B Real Estate Event Brand Provides Platform for Mid East & International Developers to Lure Chinese Investment Funds
SHANGHAI, China, June 26 /Xinhua-PRNewswire/ --
Major developers from around the world including a strong Middle Eastern delegation are on show at Cityscape China 2008, which is currently taking place at the Shanghai New International Expo Centre in Pudong and which concludes Friday 27 June.
Global property firms are targeting China’s rapidly-growing club of super-rich investors with their iconic developments. Dubai-based Meydan, ETA Star and the Fortune Group are among several Gulf-based companies that are showcasing mega developments here in the Chinese commercial capital.
A rising star in terms of wealth creation, China’s transition to a market-oriented economy is producing a stream of ‘nouveau riche’ and China’s millionaires club is expanding rapidly. With the Chinese economy surging at more than 10% annually over the past five years, the country boasted 345,000 dollar millionaires by the end of 2006. Some 5,000 mainland Chinese had assets exceeding $30 million, accounting for a third of Asia-Pacific’s super-rich.
During the opening ceremony Ronnie Chan a Hong Kong-based major real estate developer and entrepreneur highlighted the importance of real estate investment and development and commented on how many economies shadow the performance of their respective real estate industries. "When real estate prices are rising the economy is usually growing, when prices are falling, sooner or later the economy starts to slowdown."
Graham Wood, Exhibition Director of Cityscape China, thought that Chan’s real message was thinly veiled and aimed at potential investors, "It was interesting that Chan stated that one third of the world’s billionaires made their first million through real estate..."
Echoing that sentiment, Mohammed Abdul Nasser Al Khayat, Commercial Director of Meydan, the UAE’s new iconic horseracing development, commented on the educational aspect of showcasing Meydan in Shanghai,
"We’ve had many enquiries and several questions about how to invest in Dubai, about ownership and the laws and regulations for owning property, as well as how safe it is to invest. We explained the different rules and regulations, talked about RERA and how investors are protected."
In total over 60 international exhibitors from 15 different countries covering in excess of 6,000 square metres, are showcasing projects from the four corners of Asia. Cityscape China is an extension of the phenomenally successful Cityscape Dubai, organised by IIR Middle East, which is the world’s biggest business-to-business real estate event brand.
For more information about Cityscape China 2008 and related events, please visit: http://www.cityscapechina.com
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