Published: Sep 21, 2014
Source: Khaleej Times

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Cityscape Global seen to lift investor confidence

More than 35,000 participants from across the world and exhibitor numbers have also jumped to more than 280 for the first time in five years

The 13th edition of Cityscape Global is all set to welcome more than 35,000 participants from across the world and exhibitor numbers have also jumped to more than 280 for the first time in five years.

The Middle East’s largest and most influential property show is also co-located with three dedicated and expert-led conferences — the Global Real Estate Summit, Future Cities and the Real Estate Brokers Summit — which are expected to bring together more than 1,000 senior real estate professionals.

Omniyat, Nikken Sekkei, Seven Tides, Sun and Sand Developers and TDIC will be among the leading developers and architects launching new projects at the three-day event.

Dubai World Central, or DWC, the world’s first purpose-built aerotropolis, is presenting the second phase of its Residential District at this year’s edition of Cityscape Global. Real estate developer Damac has announced it will be developing a second golf course and related facilities in Dubai with the Trump Organisation.

Speaking ahead of the event, Rashed Buqaraa, COO of Dubai Aviation City Corporation, said: “Dubai World Central Residential District offers its future residents an unparalleled opportunity to live in a uniquely integrated community that includes high quality amenities to meet all of their needs, incomparable ease of access and exit, and a sustainable urban environment to call home.”

The Dubai Land Department, or DLD, will be conducting a new e-auction during Cityscape 2014. The event, which is being conducted through Emart, the department’s online real estate market portal, will be one of the DLD’s major activities at the international property exhibition.

According to the DLD, supporters of the show, 6,636 properties were registered across the emirate for the first half of the year, further underlining the sustained investor confidence in the real estate market. With Dh113 billion worth of transactions pumped into the Dubai property industry in the last six months, the DLD believes Dubai has now established itself as a prime global destination for real estate, following the implementation of new laws and regulations which safeguard investors.

Sultan Butti bin Mejren, director-general of the DLD, said: “Dubai’s real estate market is unique and offers a diverse range of products and services, meaning that there are opportunities for large and small investors. The renewed confidence in the market is a sign of Dubai’s resilience. It has proved that it can weather adverse conditions and can immediately respond by capitalising on an improving outlook.”

“Our aim is facilitate the market’s expansion. We enact laws and regulations to find proactive solutions to problems, whilst at the same time maintaining the rights of all investors.”

Demonstrating its commitment to innovative designs and sustainability, architectural studio RAW-NYC has launched an upcycling initiative exploring the possibilities of repurposed plastic bottles. It is the first-of-its-kind at Cityscape where used plastics are transformed into art objects that make up the walls for the stand.

Raya Ani, founder of RAW-NYC, who designed the first public green school in New York City, said: “When the decision was made to exhibit at Cityscape Global, I was uneasy about creating a stand made out of construction materials that will be either thrown away, adding to the volume of waste produced each year, or would be stored away taking storage space.”  By Abdul Basit, abdulbasit@khaleejtimes.com

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