Dubai: This year’s Cityscape Global event in Dubai, scheduled for early October, will allow developers to sell units in UAE based projects at their stands. This is the second year in a row that this has been allowed after a decade’s hiatus when no such on-site deals were allowed.
The clearance was confirmed by the Dubai Land Department.
Meanwhile, the upcoming Cityscape event in Abu Dhabi will continue to have on-site sales for a fourth straight year.
“Permitting on-site transactions was a significant milestone in the history of Cityscape Global and it allowed us to enhance the experience of all participants whether they are property developers, home buyers, investors, or agents,” said Tom Rhodes, Exhibition Director.
“Through the implementation of new regulations in the real estate market Dubai has become one of the most transparent places to invest globally. These regulations are critical to the development of the market in the UAE for both local and international investors and illustrates the government’s commitment to a fair and transparent property market.”
In a post-show report compiled by Informa, organisers of Cityscape Global, some 67 per cent of the 37,821 visitors who attended the event expressed an interest in making a purchase or doing business with an organisation they met at the exhibition over the course of the next 12 months.
An estimated Dh870 million worth of on-site transactions was recorded during the three days of Cityscape Global last year.
