Investor Confidence in Dubai Real Estate Sets Tone for Big Year at Mid East’s Largest Property Show
Cityscape Global prepares to host more than 200 exhibitors as Dubai real estate benefits from AED50 billion investment surge in 2012.
Dubai, UAE, 17 July 2013: The renewed investor confidence in Dubai’s real estate market is reflected in the emirate’s largest property showcase, Cityscape Global, as the three-day event prepares to host more than 200 exhibitors in 2013 for the first time in four years.
According to the Dubai Land Department, more than AED50 billion was invested into Dubai real estate in 2012, while Cityscape Global, the Middle East’s largest and most influential international real estate event, is expected to grow by 50 per cent for the second year running.
Several Dubai-based developers will be exhibiting for the first time at Cityscape Global, further underlining the emirate’s property market revival, and many more major developers will be returning to the show after a hiatus following the global recession in 2008.
MAG Group, Omniyat, Tanmiyat, Jumeirah Golf Estates and Union Properties return for the first time in several years with new developments and project updates, while Diamond Developers, SKAI, and Sobha Group take their place among a group of newcomers to the showpiece event, which takes place from 8-10 October at the Dubai World Trade Centre.
The event’s organisers, Informa Exhibitions, also expect several exciting new project launches from local powerhouses including Emaar, Nakheel, Dubai Properties Group, Meraas, Dubai World Central, and Meydan, as the key developers look to drum up demand from investors at their largest show stands yet.
“Jumeirah Golf Estates is one of the most eagerly anticipated luxury residential golf communities in Dubai, which has generated significant interest from investors around the world,” said Ms Muna Al Haddad, Commercial Director, Jumeirah Golf Estates.
“With the first batch of villas from the development set for handover in the fourth quarter of this year, it was imperative that we participate in Cityscape Global taking place in October, given its status as the region’s biggest real estate event.
“We look forward to capitalising on the event’s broad appeal to network with potential investors and industry peers, while promoting the distinguishing factors of Jumeirah Golf Estates that make it one of the region’s most attractive sporting, leisure and luxury residential destination.”
For the first time since 2008, all sectors of the Dubai real estate market are now on the upswing. According to global real estate service firm, Jones Lang LaSalle, 2,200 units were added to Dubai’s residential stock inventory in first quarter of 2013, bringing the total inventory in the emirate to 357,000 units, with a further 42,000 estimated to be delivered in the next two years.
Maintaining its appeal to international developers, Cityscape Global has attracted dozens of big-name organisations from emerging real estate markets this year. Turkey represents the largest out of eight international pavilions, as more than 20 developers including Agaoglu, Eroglu, Vadistanbul, and NEF showcase their latest mega-projects in the country’s property market.
A large representation from Qatar will be also take part as the thriving Gulf state continues on its ambitious development plan as the host of the 2022 FIFA World Cup – Msheireb Properties, Mall of Qatar, Barwa and United Development Company (UDC), the company behind the Pearl Qatar, are among the headline developers on show.
Wouter Molman, Exhibition Director for Cityscape Global said: “The 12th edition of Cityscape Global will return this October after a hugely successful year in 2012, in which it attracted more than 25,000 visitors from 93 countries – an increase of 25 per cent year-on-year.
“The global showpiece continues its increasingly significant role as the barometer of the local and international real estate market, and we anticipate that exhibition space will increase by 50 per cent this year for the second year running, while visitor numbers will match this growth.”
Supported by the Dubai Land Department, Cityscape Global is the annual meeting point for key real estate investors, developers, investment promotion authorities, architects, designers and other real estate professionals to drive growth in real estate investment and development across emerging markets globally.
The property event is co-located with three dedicated conference programmes – the Global Real Estate Summit, Future Cities, and the MENA Mortgage and Affordable Housing Congress, bringing together a combined 750 senior real estate professionals who will explore opportunities and find solutions to key challenges affecting the industry today.
Also co-located with the exhibition is the Cityscape Awards for Emerging Markets. The awards programme attracts hundreds of entries from developers and architects behind real estate developments across emerging markets globally.
Entries from other Cityscape’s Awards programmes in Qatar, Egypt and Saudi Arabia are also entered to compete for the ultimate accolade, with winners to be announced at an elaborate ceremony taking place at the JW Marriot Marquis hotel on 9 October in Dubai.
Cityscape Global 2013 returns in October with support from Foundation Sponsors Emaar, Nakheel, and Dubai Properties Group; Strategic Sponsor Barwa; Silver Sponsors Anantara Residences and Pacific Ventures; Al Aribya as Regional Broadcast Partner; and CNN as the International Broadcast Partner.