Youth in real estate investment was the focus of the second day of the 69th edition of the International Real Estate Federation’s FIABCI World Congress, which was inaugurated on Monday 30th April in Dubai and will run until 2nd May under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
During the event, which is being held for the first time in the MENA region under a ‘Happy Cities’ theme, Dubai Land Department (DLD) organised a youth seminar in cooperation with the Emirates Youth Council and in the presence of a group of developers to discuss the challenges facing youth in real estate investment.
During the seminar, His Excellency Marwan bin Ghalita, CEO of the Real Estate Regulatory Agency (RERA) – the regulatory arm of DLD — said: “The real estate market has been experiencing a boom since 1997, with AED 1.1 trillion worth of investment. 25% of this investment, or AED 286 billion, has come from Emiratis, which reflects how interested UAE citizens are in investing in the real estate market.”
Ghalita outlined the opportunities offered to youth by developers, particularly highlighting that the younger generation can save 30-40% of their monthly income to buy a property. He stressed the need to qualify this generation of young Emiratis to work in the real estate sector.
The seminar was attended by a group of developers and discussed the opportunities and challenges facing the youth in real estate investment, ways to encourage them to enter the real estate market and benefit from investment opportunities, and the distribution of income sources among youth.
His Excellency Marwan Al Sarkal, CEO of the Sharjah Investment and Development Authority (Shurooq), and Al Harith Al Moosa, Vice Chairman and Deputy General Manager of Falconcity, participated in the youth seminar, as well as several developers including MAG Lifestyle Development, Dubai South, Jumeirah Golf Estates, Madain Properties and Harbor Real Estate.
Falconcity of Wonders has announced its participation in FIABCI Dubai 2018 as a Platinum Sponsor. Through its sponsorship, Falconcity of Wonders aims to enhance Dubai's position and reputation as one of the world's leading destinations for innovation, trust and happiness.
His Excellency Salem Almoosa, Chairman and General Manager of Falconcity of Wonders, commented: “With its strategic geographic location, which makes it the gateway between the east and the west, Dubai has established itself as a rapidly growing global trading centre with more than 50% of business events taking place in the Middle East, including the largest events of their kind in the world.”
The congress has attracted a number of sponsors from both the public and private sectors, including RTA as Support Partner, Dubai Tourism as Official Partner, and Dubai Properties as Strategic Partner. The event is also supported by Platinum Sponsors Jumeirah Golf Estates and Falcon City of Wonders, Gold Sponsors Dubai South and DAMAC, and Media Partner MBC Group.
Source: Land Department Media