Cityscape to showcase Dubai mega projects from today
Cityscape, the world's biggest real estate show opening today at the Dubai International Exhibition Centre, will see the unveiling of a spate of spectacular worldclass projects worth more than $200 billion.
Reflecting the mind-boggling property boom in the Gulf region, which has currently more than $1 trillion worth of ongoing projects, the three-day show will line up leading regional and international developers and real estate professionals.
Last year's event broke records with announcements of $160 billion worth of real estate projects — a seven-fold increase on the $20 billion announced before the previous Cityscape.
“This year, new project announcements will be worth more than in 2006, as the region, riding a crest of record oil revenues, is set for a sustained upswing in the property sector," real estate experts said.
"The UAE, which is home to some of the global real estate heavyweights, is driving the regional property boom.
“Most of these major developers will be vying with each other to woo investors with some of the most stupendous projects ever conceived on the planet."
"With the UAE accounting for one-third of the mega developments in the region, the property exhibition will showcase some of the iconic and breathtaking projects which will redefine the country's landscape," a leading property developer said. With 45,000 real estate professionals from 102 countries and more than 700 exhibitors taking part, the show is spread over 70,000 sqm exhibition space.
The event also features the World Architectural Congress and Cityscape Architectural Review Awards. The congress brings together leading international architects to discuss best practice in architectural design in the Middle East and internationally. Some 350 entries from emerging countries around the world will compete for the awards, which are recognised as the most prestigious of their kind in the region.
"The recent slow down of stock markets has served in reminding investors of the dangers of being overweight in equities and has renewed interest in the region's property sector which is realising excellent returns on investment,” said Adel Al Zarouni, Managing Director, Burooj Properties, an exhibitor at the show. “The region's continuous real estate boom stems from the fact that direct investment through real estate funds can be an ideal building block for enhancing and safeguarding the assets of any investor's portfolio. They are particularly beneficial to investors who are heavily concentrated in highly market sensitive asset classes, and are therefore a lucrative way of diversifying a portfolio.” Source
Reflecting the mind-boggling property boom in the Gulf region, which has currently more than $1 trillion worth of ongoing projects, the three-day show will line up leading regional and international developers and real estate professionals.
Last year's event broke records with announcements of $160 billion worth of real estate projects — a seven-fold increase on the $20 billion announced before the previous Cityscape.
“This year, new project announcements will be worth more than in 2006, as the region, riding a crest of record oil revenues, is set for a sustained upswing in the property sector," real estate experts said.
"The UAE, which is home to some of the global real estate heavyweights, is driving the regional property boom.
“Most of these major developers will be vying with each other to woo investors with some of the most stupendous projects ever conceived on the planet."
"With the UAE accounting for one-third of the mega developments in the region, the property exhibition will showcase some of the iconic and breathtaking projects which will redefine the country's landscape," a leading property developer said. With 45,000 real estate professionals from 102 countries and more than 700 exhibitors taking part, the show is spread over 70,000 sqm exhibition space.
The event also features the World Architectural Congress and Cityscape Architectural Review Awards. The congress brings together leading international architects to discuss best practice in architectural design in the Middle East and internationally. Some 350 entries from emerging countries around the world will compete for the awards, which are recognised as the most prestigious of their kind in the region.
"The recent slow down of stock markets has served in reminding investors of the dangers of being overweight in equities and has renewed interest in the region's property sector which is realising excellent returns on investment,” said Adel Al Zarouni, Managing Director, Burooj Properties, an exhibitor at the show. “The region's continuous real estate boom stems from the fact that direct investment through real estate funds can be an ideal building block for enhancing and safeguarding the assets of any investor's portfolio. They are particularly beneficial to investors who are heavily concentrated in highly market sensitive asset classes, and are therefore a lucrative way of diversifying a portfolio.” Source
No comments:
Post a Comment