DUBAI – Global Property Guide estimates that Gross Rental Yield in Dubai stands at 6.63 percent per annum. According to the authoritative guide, the index of Dubai's residential real estate rose by 13.46 percent in 2013, against a decline of 1.8 percent in 2011. These figures testify the dramatic turnaround of the real-estate sector in Dubai in record time, according to organizers of the International Property Show (IPS) 2014. “The report further reveals that markets like UK, Singapore and Tokyo saw declines of 3.97 percent, 2.88 percent and 1.94 percent respectively, in sharp contrast to Dubai's impressive growth. The double-digit growth in the residential index in Dubai demonstrates the growing global confidence in the emirate's real-estate sector and its potential,” said Dawood Al Shezawi, CEO, Strategic Marketing & Exhibitions, organizers of IPS. The Global Property Guide statistics were highlighted in the run-up to the IPS which will be held on April 8-10 at the Dubai International Convention and Exhibition Centre. IPS is a leading property show in the region, which is supported by the Dubai Land Department, and has expanded by 20 percent in the number of exhibitors over the past 5 years. Al Shezawi added: “The remarkable growth of IPS is an indicator of the accelerating pace of Dubai's property sector. The 2014 edition of exhibition has generated participation of 80 countries, marking it the biggest to date since inception a decade ago.” Al Shezawi said: “The commercial, residential, office and retail segments represent 63 percent of the overall exhibitors at IPS 2014. Exhibitors are upbeat about the growth of the local sector, especially in residential, office and retail segments. Exhibitors look at the IPS as an ideal platform to establish partnerships, expand operations, and adopt latest global practices in the contracting and construction sectors.” Al Shezawi added: “We invite all real estate developers, brokers, investors and contractors to gain from the three-day exhibition and benefit from the phenomenal growth potential of the sector, which is expected to a record a huge leap during 2014.” — SG
