Sustainable real estate summit opens in Dubai
Dubai, May 2, 2013
The Arab International Sustainable Real Estate Conference, which will see discussions between experts aimed at promoting short and long term sustainability in the real estate sector, opened in Dubai yesterday.
Organised by the Government of Dubai Land Department, the two day event is being held in cooperation with the Arab League at the Dubai International Convention and Exhibition Center (DICEC).
The first of its kind event is one of the main activities of the third edition of the Annual Investment Meeting (AIM) which began yesterday. The conference is sponsored by Diamond Developers and Falconcity of Wonders is the strategic partner.
The AIM held at the DICEC is organized by the Ministry of Economy and runs in parallel with the International Property Show 2013 (IPS) which was also inaugurated yesterday and is supported by the Land Department.
Sultan Butti Bin Mejren director general of Government of Dubai Land Department, said: “The conference would address the three dimensions of sustainability (ecological, social and economic). It would also highlight how the activities related to the property sector can match sustainability requirements. Other issues related to finance, regulation, marketing and investment in the sector would be highlighted.”
Bin Mejren noted that the Land Department has taken upon itself to address issues related to sustainability in the real estate sector and to come forth with leading initiatives as the Department considers sustainability as one of its priorities.
The conference would also review previous experiences in real estate sustainability and current practices in order to develop modern standards, he added.
"Organising the first edition of this conference in Dubai is based on the Arab League's belief in Dubai and its ability to meet the requirements of real estate sustainability and its role in promoting such concepts in Arab real estate markets," said bin Mejren.
Prof Refat Al Faouri, Director General of the Arab Administrative Development Organisation (ARADO), working under the umbrella of the Arab League, said: “The Land Department is the first official entity in the Arab world to address the challenges of real estate sustainability in a professional manner.
“The property sector in the Arab world lacks sustainability practices, which are common practices in the international markets. Hosting this conference in Dubai reflects its position as a hub for promoting sustainability concepts and will also help in educating professionals working in this sector about the importance of sustainability."
The conference will discuss sustainability theoretically and practically by showcasing leading practices of real estate sustainability in the UAE and Dubai in particular. Details of ‘Dubai Sustainable City’, the first city of its kind in the region would be revealed during the conference. He said that the new city is expected to be a success and will position Dubai as an active player in real estate sustainability.
Majida Ali Rashid, chairwoman of the LD's Real Estate Investment Management and Promotion Centre, noted that sustainability requires building strategic and solid relationships between parties involved in the real estate sector to create investments, review best international practices, to benefit from experiences and to study the regional and international variables.
The debates at the conference will review the impacts of these variables on the real estate markets and other risks related to investment in this field.
According to her, the sector shall focus on securing alternative finance channels; enhance knowledge of investors, meet their expectations, and convey their concerns to the decision makers.
Dawood Al Shezawi, CEO of Strategic Marketing and Exhibitions, the organizer of the AIM & IPS, said: “This initiative includes a range of programmes and policies in the areas of energy, agriculture, investment and sustainable transport in addition to new environmental and construction policies that aim to raise the quality of life in the country for citizens and residents.” – TradeArabia News Service