The second ACRES real estate exhibition kicked off on Monday in Sharjah, with over 100 real estate companies participating. Shaikh Saud Bin Khalid Bin Sultan Al Qasimi, a consultant in Sharjah Ruler’s office, opened the event yesterday and conducted a tour of the exhibition space. Shaikh Saqr Bin Ahmed Bin Sultan Al Qasimi, chairman of Emirates Vision events management, organisers of the exhibition, said in a statement the event was originally meant to coincide with the region’s economic development and growth of real estate activities. Shaikh Saqr added that Sharjah’s economy is testament to the success of Shaikh Sultan Bin Mohammed Al Qasimi, ruler of Sharjah and supreme council member.
While the financial crisis has cast a shadow on all economic divisions in many regions of the world, the real estate sector continues to be highly efficient and effective, the statement said. Shaikh Saqr attributed this to the attractive investment climate established by the UAE government and a country that is secure, safe and strong in the areas of communications, business and infrastructure. Ahmed Mohammed Al Midfa, chairman of Sharjah chamber of commerce said projects such as Sharjah Marina, Emirates Industrial City and the Star Islands illustrate the progress being made in the real estate sector in the emirate, despite economic fears. There is a 20 per cent increase in the size of exhibition space on last year’s figure with a total area of more than 12,000 square metres. The Gulf and other Arab countries make up around 30 per cent of the total number of exhibitors, with European countries such as Spain and the UK, participating for the first time.
