Real estate firms account for the majority of ad spend in the UAE, pumping more money into their advertising budgets than ever before. An industry expert described the situation as an advertising mania, escalating the price of outdoor advertising.
According to a half-yearly report by Pan Arab Research Centre (PARC), four out of the top five firms in the list of top advertisers were property companies. In the top 10 list, eight of them were from the same industry.
Dynasty Zarooni was followed by Nakheel, Deyaar, Emaar, ACI Real Estate, Al Qudra Holding, Better Homes and Dubailand.
Hilal Al Zarooni, President of Dynasty Zarooni and Chairman Kabir Mulchandani said in a statement that the primary reason for the increase in advertising spend was the merger in September 2007 of the Hilal Al Zarooni Group with Dynasty Enterprises Inc to form Dynasty Zarooni Inc with a net equity of Dh1.35 billion. The firm’s ad spend for the first six months of 2008 was estimated at $10.58m (Dh38.8m). Leaping from an almost non-existent advertising spend in 2007, the new ad budget accounts for around 1.8 per cent of the company’s total business of Dh21bn.
UAE Property 