Dubai Urban Development Continues to grow and Asian Investors get a Preview of New Developments

Between now and 2015, Dubai will witness nearly 15 square miles added to its urban area from a single development. Dubai World Central

In an effort to attract investors from Asia to the region, property investors will get a preview of all major Dubai real estate offerings with the largest of them – DWC is a 55 square mile US$ 33 billion urban land project – and is currently being offered at the Asian International Investment & Property Show (AIPS) taking place from 25-27 June in Seoul, South Korea.

The show was opened by H.E. Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade and Chung Jong Hwan, South Korean Minister of Land, Transport and Maritime Affairs, accompanied by Lee Hee Beom, Chairman, Korea International Trade Association (KITA).

DWC has been steadily increasing its sphere of influence and sees the Far East real estate market as a place to attract industry heavyweights to invest in the multi-billion-dollar Dubai property sector.

Khalid bin Harib, CEO, DWC Real Estate said: "Dubai World Central Real Estate has something to offer Asian property developers, government authorities, leading architects, designers, consultants and key senior professionals involved in the real estate industry gathered at this premium event.

"DWC's three real estate components - DWC Residential City, DWC Commercial City and DWC Golf City - aim to raise over US$ 65 billion over the next decade. We have just scraped the top of the local property investor market by raising US$ 2.3 billion within a year through land sales.

"Investors from the Far East have shown huge interest in our property as it provides them easy access to our markets because of the proximity to the world's largest airport - Al Maktoum International Airport."

According to DWC, the second phase is expected to be completely sold out, and will generate around $1.6 billion.