Dubai: The UAE’s property market may have been quiet in recent months from a lack of buyer support, but developers were not letting that be a distraction to their plans. At the latest edition of Cityscape Global, they had their eyes cast firmly on the future, even longer term ones of 10 years and more.
In short, they were going for the big picture. And that canvas will lead to multiple makeovers for Dubai’s older locations, while new ones finally get a chance to be on the development bandwagon. In the case of Sharjah, a whole new ‘city’ was what a developer had in mind with the unveiling of an ambitious waterfront project.
Some of the developers are using the three days of Cityscape to test out investor appetite for new launches. Affordability was also a key theme with developers, while Damac Properties went the branded upscale way with the launch of its Bugatti residences at Akoya Oxygen.
Developers were clearly deploying multiple strategies to get back the distracted buyer. They would have been enthused by reports, such as the one from CBRE, that talked about Dubai still offering value for investors on a like for like basis compared with other global realty investment destinations.
