Business | Property
Projects worth Dh70b launched at region's premier property exhibition
Cityscape Dubai, the region's largest real estate exhibition, concluded yesterday, recording over Dh70 billion in announcements, according to information made available yesterday.
- Staff Report
- Published: 23:32 October 18, 2007
- Image Credit: Tracy Brand/Gulf News
- Enthusiastic visitors get up close to models that promise architectural nirvana.
Dubai: Cityscape Dubai, the region's largest real estate exhibition, concluded yesterday, recording over Dh70 billion in announcements, according to information made available yesterday.
This include Dh40 billion Mudon project by Dubai Properties and a roughly Dh15 billion Remraam project being developed by Mizin, part of Dubai Holding's arm, Tatweer. These were in addition to a number of smaller announcements that made the three-day event a success, according to sources close to the organisers.
"By midday on Thursday, the number of visitors crossed 34,000. We estimate the event could have seen the participation of 50,000 visitors, participants and exhibitors," said a spokesperson.
Meanwhile, Middle Eastern developers looking to expand and diversify their interests outside the region can use a new report commissioned by Cityscape Market Intelligence Service (CMIS), launched at Cityscape Dubai.
Real estate guide
The Market: Real Estate 2007, published by the Oxford Business Group (OBG), has been hailed as a ground-breaking guide for real estate investors in 23 emerging markets in Asia and Africa, as well as the Middle East. The report, also available thorough a new online subscription service from CMIS, has ranked emerging markets according to investment opportunities in residential, commercial, hospitality and retail development.
Topping the overall rankings is India, with the Philippines in second place. Turkey is placed third and Morocco and Egypt placed fourth and fifth respectively. Saudi Arabia is identified as the strongest investment prospect in the Arabian Gulf, while Syria presents a "notable opportunity" for hotel and tourism development.
"It is not necessary that countries be wealthy to perform strongly," said the authors of the report.
"That India ranks first in three of our four indices, and second in the fourth is unlikely to surprise most people working in the Gulf as they are able to see India's attractive market potential and well-designed investment context," said Kate Godfrey, OBG consultant.
"What the OBG indices do show, however, is that there are other sizeable and investment-friendly markets which have attracted less global attention. Philippines's topping our residential rankings will be a surprise to many, but its population of over 90 million and GDP per capita approaching that of oil-rich states at Libya.
Business Editor's choice
-
Ranking initiative seeks to inspire small firms
Ahmad honours companies for excellence
-
Challenging year ahead for IPOs
Companies looking to raise equity must prepare for stringent listing regulations
-
Boeing banks on single-aisle jets
Planemaker aims to convert over 1,000 commitments into firm orders this year
