Aldar Properties chairman introduces Abu Dhabi in Singapore

Aldar Properties chairman introduces Abu Dhabi in Singapore
Asian based ultra high net worth and institutional investors are keen to learn more about Abu Dhabi property. Around 400 of the world's most influential real estate investors, made up of private banking and institutional clients from Citi, attended the inaugural Citi Asia Pacific Property Conference held in Singapore.
United Arab Emirates: Wednesday, June 06 - 2007 at 15:23

Aldar chairman Ahmad Al Sayegh woos Singapore.

The two-day networking conference brought together high net worth investors, developers, promoters and various other players from the Asia Pacific, Middle East, Europe and the United States to discuss investment opportunities in the property sector.

These include the hospitality, office, residential, commercial, industrial segments as well as real estate investment trusts and real estate private equity.

The keynote speaker for the event was one of the Middle East's most distinguished real estate developers, Ahmad Al Sayegh, Chairman of Abu Dhabi-based Aldar Properties.

He showcased the dynamic real estate market of Abu Dhabi and the United Arab Emirates, pointing out that the UAE's developments, valued at $230 billion, account for one-third of the entire Middle East's real estate projects.

Mr. Sayegh urged Asian investors to consider Abu Dhabi as a separate investment destination in the real estate asset class, pointing to signs of strong demand and tight supply in all four key segments: residential, office, commercial and hospitality.


Demographic powerhouse
The Aldar chairman noted the economic strength of Abu Dhabi which generates 60 per cent of the UAE's GDP and a 75 per cent increase in population in the past decade. These are factors, together with concerted government initiatives, that are expected to provide a sustained boost to Abu Dhabi's real estate sector.

'The discussions at the Citi Asia Pacific Property Conference were aimed at drawing attention to the depth and diversity of the real estate markets in the some of the world's fastest growing economies,' said Mr Akbar Shah, Chief Executive Officer of Citigroup Global Wealth Management Middle East.

'We have brought together some of the best researchers and most prominent players in the real estate sector in a unique forum, not only to provide ideas, but also to help our clients to build networks, joint ventures and other forms of business partnerships in the real estate sector.


Citi initiative
'In recent years, Citi Private Bank has been especially prolific in expanding our real estate capabilities. We have been studying this asset class closely in how it complements our clients' wealth portfolios before creating the capabilities and investment opportunities for our clients.'

The participants of the event included 150 ultra high net worth clients of Citi Private Bank - the largest gathering ever of high net worth clients for a regional conference on the real estate sector. It was almost certainly the first presentation of the new Abu Dhabi property market in Singapore but not likely to be the last.