CITYSCAPE GLOBAL 2015
Welcome to Cityscape Global, the world’s largest and most influential real estate investment and development event for emerging markets. From 8 -10 September 2015, over 300 local, regional and international exhibitors will showcase their latest projects and products at the Dubai World Trade Centre.
Now in its 14th year, Cityscape Global has grown to be the world’s largest real estate investment and development event for emerging markets.
This year brings together more than 300 exhibitors from 30 different countries in 2015, marking the biggest assembly of exhibitors since 2008.
Despite the recent market correction which saw transactions volumes and sales process decline, the continued growth of Cityscape Global, which is considered as the barometer of the regional real estate industry, highlights a healthy medium to long-term future for Dubai real estate.
According to global property consultancy JLL, the single digit price correction observed in the first half of the year is a sharp contrast to declines that followed the property crash and is a clear indication that the market is maturing.
And this is no coincidence. While Dubai’s Expo 2020 win caused a sharp rise in property prices at the end of 2014, steps taken by the government have helped regulate the market and the establishment of a rent index has created more clarity for investors.
In addition to price stabilisation and better regulations, other signs that the Dubai market is maturing are a reduction in off-plan sales, more cautious property funding provided by banks as well as ‘smarter’ developers, who have recognised the necessity to align new levels of supply with real demand, property consultancy JLL says.
Furthermore, from an investment perspective, Dubai continues to maintain its status as the preferred destination for foreign investment in the Middle East. As a safe haven in a volatile region, Dubai’s key attraction points for investors include political and economic stability and market transparency. The local market is also benefitting from its position as the headquarters location of choice for global corporates servicing the wider Middle East region, whilst the recently announced expansion of the DIFC and potential for new business in Iran will act as a catalyst for the commercial property sector, experts say.
All of the above is a positive indication that the Dubai market is headed for more sustainable real estate growth in the future, with Cityscape Global providing the ultimate platform for developers to showcase some of the emirate’s most stunning real estate projects in the making.
The UAE’s leading developers
At Cityscape Global 2015, all of the region’s key real estate companies are once again present at the exhibition, including Emaar Properties, Dubai Properties Group, Dubai World Central, Meydan Group, Meraas Holding and Nakheel while first-time exhibitors include Kleindienst Group, DMCC, Al Barari and Majid Al Futtaim Properties.
Dubai Properties Group (DPG), a member of Dubai Holding and master developer of world class destinations that support the long-term development of Dubai including Business Bay, DUBAILAND, The Walk at JBR and Culture Village, will showcase several of its flagship developments at Cityscape Global 2015.
Jumeirah Beach Residence (JBR) is a prime waterfront location with upmarket apartments, containing 40 towers (35 residential and 5 hotel towers) and has over 7,000 apartments ranging in size from studios to expansive penthouses. The Walk at JBR is Dubai’s first outdoor shopping destination by the beach, attracting over 12 million visitors in 2014. The Walk stretches across a 1.7 kilometre long avenue overlooking the Arabian Gulf, and boasts over 305 retail outlets on both its ground and plaza levels.
DPG’s Business Bay is a prime hub of residential space, international and local businesses, financial institutions and retail and hospitality options. Business Bay is home to some of the biggest international corporations, first class dining and retail options as well as upscale residential space.