Annual property event Cityscape started off on a positive note in Dubai today. Inaugurated by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai, the three-day event is widely expected to mirror the trends in Dubai’s property market.
“As observers, we have seen lots of people here,” said Nick Maclean, managing director at CBRE Middle East. “The first day has started well with people queuing to get in and there are some new products here and I think that’s reflective of the attitude within the property market.
“But the real key to its success will be how many people are here on Thursday. So we will reserve judgement on that,” he added.
At the event this year, Dubai-based Meydan Group is announcing the launch of a brand new tower on Sheikh Zayed Road, offering residential, commercial and leisure options. This is the developer’s first offering outside of Meydan City, and will include office and retail spaces, a hotel and serviced hotel apartments, private sky gardens, a restaurant and nightclub, an indoor running track, infinity pools and a tennis court.
Damac Properties will showcase its serviced hotel apartment offering and its new Suites and Spa service. The developer plans to have 4,000 hotel apartments under development by the end of 2013.
Other major UAE developers taking part at Cityscape this year include Emaar Properties, Dubai Properties Group, Nakheel, Meraas, Falconcity of Wonders and the Tourism Development and Investment Company (TDIC).
The event is expected to attract more than 20,000 participants over the next three days.
“We’re now in the position where the event is seeing growth for the first time in three years. We’re growing by 40 per cent this year in terms of floor space. In terms of registrations, we’re well on par to exceed what we achieved last year and that has not happened in any of the previous three editions; it’s substantial growth,” Rohan Marwaha, managing director of Cityscape Global told Gulf Business last month.