Real estate market to boom in near future

Burooj Properties, the real estate arm of Abu Dhabi Islamic Bank and a leading real estate company in the UAE and the Middle East, announced that it is optimistic about the future of the real estate market, which is expected to see a remarkable improvement in the next period. Burooj Properties made this announcement after the conclusion of its participation in a number of real estate exhibitions and events, the latest of which was the 23rd edition of the Egyptian Real Estate Investment Gathering, which was held recently at Sheraton Corniche Abu Dhabi. During its participation at the exhibition, Burooj showcased its ‘Village Gardens Katameya’ project located in East Cairo, in which Burooj owns 425 housing units. The project targets Egyptian Expatriates living in the UAE and other GCC countries. Underlining the importance of its participation in real estate related events and arenas, Adel Ahmed Al Zarouni, Managing Director of Burooj Properties, said: “As part of our endeavors to enhance our relations with our current clients and further attract new clients, we are always keen to participate in various events that offer us the opportunity to highlight promising investment opportunities in the local and Egyptian markets.”   Al Zarouni expressed his satisfaction with the results the company has realized through its participation in various related exhibitions, especially the Egyptian Real Estate Investment Gathering. In this regard, he said: “We believe that these events and business community gatherings dedicated to real estate affairs contribute significantly to developing our services by bringing us up to date with the needs of the real estate market in the country and the region.” He added that the participation in this forum was of significant importance because it was held in the UAE capital of Abu Dhabi and attracted a number of leading real estate companies and property developers from the UAE and Egypt. Burooj Properties sees Egypt as one of the most important real estate markets, and hence the event offered us a platform to boost public trust in our services, in line with our plans aiming at identifying our diverse portfolios of services, including management, brokerage, development and finance,” Al Zarouni said. He praised the organizers of the event for their efforts and applauded the success of the forum which witnessed a huge response from Egyptian companies and the Egyptian community in the country, as well as from Emirati investors. He also remarked that the property market is showing great promise as is clearly manifested in the increasing demand for real estate projects being developed and managed by Burooj Properties.