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INTERNATIONAL PROPERTY SHOW

DUBAI - The 20th edition of the International Property Show (IPS) 2024 kicked off on Tuesday, February 27, 2024, at the Dubai World Trade Centre.

Ugandan real estate and property dealers taking part in the show are using the opportunity to interest Ugandans working in the United Arab Emirates (UAE) to invest back home and seek business ventures with well-established property business moguls.

“We are here to interest Ugandans and other foreigners to invest in Uganda. We want Ugandans living in the UAE to stop losing their savings to some unscrupulous property brokers,” Godfrey Babi Kimera, the team leader of City Sites Limited said.

Kimera explained that as a real estate dealer for low-income earners, the show has exposed him to lessons and great innovations in the property industry if when applied would have a multiplier effect on Uganda. 

“UAE real estate has grown faster because the government here charges no tax to all investors in real estate. This has attracted many property developers from across the world to invest in real estate and build good hotels hence Dubai becoming the hub for tourists. If such a developed country has such incentives, I call upon our government to borrow a leaf if our sector is to develop to create more jobs for Ugandans,” he said.

The remittances of Ugandans working in the UAE have jumped from $50m in 2018 to $1.5b today while foreign direct investment rose from $600m to $1.5b.

Last year, President Yoweri Museveni appealed to the business community in UAE to come and invest in Uganda and take advantage of the many untapped opportunities available in the country.

Addressing the UAE-Uganda Presidential Initiative on Investment Summit in the UAE capital Abu Dhabi, Museveni told the participants that although Uganda’s economy is growing at 6% per annum; the economy has great potential to grow faster.

The President described Uganda and the African continent as a gold mine with many untapped business and investment opportunities that he encouraged the United Arab Emirates investors to take advantage of.

The 20th edition of the International Property Show (IPS) 2024 kicked off on Tuesday, February 27, 2024, at the Dubai World Trade Centre.

About the International Property Show

IPS is the leading platform for showcasing local and international real estate projects in the Middle East.

The event aims to highlight the latest trends in the global real estate industry, showcasing commercial and residential real estate projects to a worldwide audience of investors, homebuyers, professionals, and real estate industry leaders.

It offers a one-stop shop for buyers to purchase local and international properties, as well as legal services and expert insights on the real estate industry.

Since its inception, IPS has become a key meeting point for exchanging knowledge, networking, and conducting business deals in the real estate industry.

A distinctive feature of the International Property Show is its ability to bridge global markets by providing a platform where international developments and local projects are presented alike.

This makes it an ideal opportunity for affluent investors to explore the latest and most promising property offerings and establish direct business relationships with providers.

The two-day event program includes the IPS Conference, which is one of the main activities accompanying the exhibition and brings together elite real estate experts, senior officials, and representatives from government agencies and international institutions, to exchange knowledge, experiences, and visions and learn about the latest trends, innovative technologies, and investment opportunities in the global real estate sector, in addition to the possibility of presenting ideas and exchanging them with various segments of the real estate community.