The ninth edition of Cityscape Abu Dhabi (CSAD) will see more than 130 companies displaying property developments in the UAE and abroad this week, for all budgets. The event starts tomorrow and runs until Thursday at the Abu Dhabi National Exhibition Centre and is estimated to be 15 per cent larger than last year. Here are some reasons to visit.
1 The perfect platform
Cityscape Abu Dhabi has traditionally been seen as a barometer for the real estate market, so you can expect developers to launch new projects and make big announcements, says Wouter Molman, Director, Cityscape Group.
Aside from developers and banks such as Aldar, Mubadala, Al Qudra, Manazel, Wahat Al Zaweya, Eshraq, National Bank of Abu Dhabi (NBAD) and Masdar, the CSAD has new participants such as Eagle Hills, while returning companies include
Al Forsan and Reem Developers.
Alongside the show is the Abu Dhabi Market Overview Executive Luncheon, which draws attention to the emirate’s latest initiatives, including anticipated new real estate regulations. “The main focus of this forum will be on supporting differentiation and creating sustainable economic growth,” adds Molman. Key speakers are Fergal Harris, Global Head of Real Estate and Family Conglomerates, NBAD, and David Dudley, Regional Director and Head of Abu Dhabi Office, JLL.
A visual feature will showcase Abu Dhabi through the ages and its fast-changing skyline.
2 Legitimacy assured
CSAD is working with government partners such as the Abu Dhabi Department of Municipal Affairs and the Abu Dhabi Urban Planning Council, as well as Dubai Land Department and the Real Estate Regulatory Agency to ensure ethical and legitimate sales at the event.
“If it would turn out that any of the clients don’t hold relevant licences or permits to participate in our events or showcase a specific project, we would follow instructions given by the relevant authorities,” Molman says. For off-plan sales, exhibitors will need to have the relevant approvals in place.
3 Absolutely Abu Dhabi
If you’re wondering why the two large real estate markets in the UAE can’t just have one combined property event, bear in mind that Dubai and Abu Dhabi have different regulations, as well as supply and demand fundamentals.
“One frequently hears that Abu Dhabi is typically a year or two behind the market trend in Dubai, which explains why the Abu Dhabi market is still witnessing growth — though no longer double-digit like last year — and the Dubai market [has been] more stagnant in recent months,” says Molman.
Where CSAD focuses on the local market, Cityscape Global is positioned as a more international event, welcoming more overseas exhibitors from across the Middle East and North Africa (Mena), Europe and Asia. Even in terms of local UAE participation, each event has a distinct offering, with only few larger Abu Dhabi developers such as TDIC, Wahat Al Zaweya and Bloom exhibiting at both events.
4 Feel the pulse
Why attend a property exhibition at all? Cityscape is a great place to connect with the real estate industry and learn about upcoming projects.
Haider Ali Khan, CEO of UAE property portal Bayut.com, says, “I expect a good turnout at the event with buyers and investors looking for great deals.
“What makes a smart investor is an in-depth understanding of the market. The deals you find today won’t be available tomorrow and that is precisely why it is important to come and see what’s available.”
5 Green benefits
For those concerned about mitigating their environmental impact without compromising on their lifestyle, Masdar City is the only place in the UAE that offers up to 40 per cent energy and water savings as well as green spaces with play areas for children, paths for walking and cycling, and eventual access to a public transport system connecting to the greater metropolitan area.
At CSAD, Anthony Mallows, Director of Masdar City, will highlight the cost-effectiveness of sustainability and how cities such as Masdar are able to stand out. “For a long time, building sustainability was prohibitively costly, particularly in the GCC where there was a short supply of low-carbon, sustainable building materials,” says Mallows. “Now, architects, developers, investors and urban planners have access to better resources to ensure they can be as sustainable as possible.”
6 Foreign investments
According to international real estate firm JLL, investors in the GCC pumped $4.5 billion (Dh16.5 billion) into the global property market in the last quarter of 2014, of which more than $3.08 billion was into the UK. Investors will be able to capitalise on a wealth of global opportunities at CSAD.
“Over the years there has been a drastic rise in investment purchases from the region because investors in the Middle East see the UK as a secure region for long-term investment. Buyers from the UAE now represent more than 18 per cent of such property deals to foreign investors,” says Bob Clarke, Managing Director of Herald Land Real Estate Brokers. The company’s new student accommodation project, which has occupancy rates of 99 per cent, is one such opportunity.
Eagle Hills Abu Dhabi, which is associated with Emaar Chairman Mohammad Al Abbar, is focused on developing large-scale real estate projects in Bahrain, Serbia and Nigeria. Belgrade Waterfront in Serbia is a smart city for a future that combines commerce, culture and community. Centenary City in Abuja, Nigeria, offers both an impressive downtown skyline and peaceful suburban living and will be home to Nigeria’s first The Address Hotel. Marassi Al Bahrain is an opulent yet sustainable development that will deliver a waterfront lifestyle, offering luxury hotels, high-end apartment buildings, business centres, entertainment facilities and a harbour for cruise liners.
7 Turkey focus
But perhaps the most interesting foreign market is Turkey. Experts have highlighted the country as one of the most attractive real estate investment destinations in the region, and it has the largest international presence at this year’s CSAD.
First-time exhibitors such as New Life Turkey have appointed a new Arabic-speaking team specifically catering to the needs of Mena and specialising in properties along the Turkish Riviera. Another project to be showcased is Botanica Istanbul located in Beylikdüzü, one of the rapidly developing and expanding districts of Istanbul. It offers five-star living comfort in the middle of the city, with ample social spaces, terraces, pergolas, summer houses and
sun terraces.
