So, with just over a month to go until Cityscape Global opens its doors in Dubai, we ask what impact the region’s premier real estate exhibition will have on the Dubai property market and what investment opportunities will be on show.
Formerly Cityscape Dubai, and now Cityscape Global, with three mad days of business, presentations, and ‘exclusive’ announcements, is almost upon us.
The show has grown and shrunk in line with the real estate industry in Dubai but is back this year with predictions of a 25% increase in delegates on the 2011 attendance of 17,133.
The 2008 peak of 40,000+ delegates is still a couple of years away, but organizers are certainly talking up this year’s show, which will be further boosted by an increase in international participants.
International pavilions are set to take up 50% of the show for the first time in the exhibitions 11 year history. Delegations from Turkey, Russia, Qatar, Egypt, the Americas, India and Iraq will be among the countries participating all looking for Gulf money to invest in their latest projects.
What of the UAE developers? All of the big boys will be in attendance including DAMAC Properties, Emaar Properties, Dubai Properties Group and Nakheel showcasing what Dubai and the UAE has to offer.
Reports suggest that there could be a few new projects launched this year and there is a lot of talk in the forums that an announcement on an expansion into new areas for the ‘big four’ is expected.
With sentiment in the Dubai property market as high as it has been in the past couple of years, there is certainly a feel good factor going into Cityscape Global this year.
One key sector to keep an eye on will be the banks. Mortgages are being offered again, many with fewer than 5% interest, and we expect the banking sector to announce even more support for the Dubai property market during the show.
While the days of clients buying off-plan properties on the stand are behind us, Cityscape Global still remains the litmus test for the Dubai property market and we wait with eager anticipation for this year’s edition.
Cityscape Global runs from 2-4 October 2012 at the Dubai International Convention and Exhibition Centre.