Arab real estate summit to shape post-crisis future

Solutions to boost the real estate sector in the Middle East and proposals of new partnerships between Arab League states are some of the issues that will be discussed at the Arab real estate and urban development conference.

The three-day conference, which will be held at Dubai Chamber of Commerce from October 19 until October 21, will see real estate professionals, government officials, real estate regulators and investors coming together to co-ordinate and approve the plans that will shape the future development and performance of the Arab World's real estate sector.

Representatives from 22 Arab states and the world's major economies will gather at the Dubai Chamber of Commerce and Industry to decide on possible remedies for the changes that have affected the real estate market during the past year.

Dubai's Real Estate Regulatory Agency (Rera) and the US authority the Appraisal Foundation are behind some of the key initiatives of the conference.

The summit delegates will be presented with their blueprint to create a new institution to transform the regional sector's professional standards and practices. Leading organisations such as the UK's Royal Institution of Chartered Surveyors, the World Association of Valuation Organisations, and continental and national equivalents in Europe and Singapore were part of the consultation process.

"The Arab World's commitment to co-operation and to integrating standards and practices can only benefit the real estate sector as a whole," said Sultan bin Butti bin Mejrin, Director-General of the Land Department, Rera's parent organisation.

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