01 November 2018

Nearly 300 leading players from the real estate and property development sector showcased their innovative projects at Cityscape Global, the largest real estate and investment event in the Middle East, held in Dubai last month (October 2 to 4).

The 17th edition of Cityscape Global was inaugurated by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, in the presence of Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Civil Aviation Authority and CEO of Emirates Group, Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation and other senior officials.

Out of the 300 companies at Cityscape Global, five local developers exhibited projects worth a total of Dh38.7 billion ($10.5 billion). These included:

• Nakheel with Dh713-million Dragon Towers, a twin high-rise apartment complex. The project will be built at Dubai’s rapidly-expanding Dragon City mixed-use community;
• Aldar Properties with Dh10-billion Al Ghadeer project, featuring more than 14,000 units, located on the border of Abu Dhabi and Dubai;
• Sharjah developer Arada with its Dh24-billion Aljada development;
• Binghatti Developers with its Dh1.5-billion portfolio projects, which included the recently announced Millennium Binghatti Residences (Dh400 million) and Binghatti Stars (Dh250 million); and
• Union Properties with its Dh2.5-billion Avenue District. 

Other major developments and projects launched included Marsa Meydan by the Meydan Group, a Newport Beach-style residential and lifestyle community in Jebel Ali featuring a climate-controlled marina and waterfront villas with private pontoons, a first in Dubai.

Meraas’ Port de la Mer – set to be a beachfront masterdeveloped project in the heart of Jumeirah – was also announced during the first day of the event.

Other leading developers included Marjan – which made its first appearance as the master-developer of freehold property in Ras Al Khaimah – Dubai Investments, Azizi Developments, Dubai Properties, Falconcity of Wonders and Majid Al Futtaim.

Exhibitors reported good response to their stands, with Arada, the UAE’s newest developer, announcing that it sold a record 652 homes worth Dh545 million ($148 million) during the three-day event, thus registering a 42 per cent increase on the company’s performance last year, when it launched Aljada. 

 The UAE, Egypt and Malta were among the countries featured at this year’s exclusive Cityscape Business Hub and Hosted Investors’ Programme, which aimed to boost the relationship between investors – both local and international – and developers, government authorities from around the world, and real estate professionals to drive investment.

Named as the event’s Country of Honour, Egypt’s Ministry of Housing brought 18 of its top developers to their pavilion, showcasing ambitious master-developed projects such as the New Administrative Capital, Central Business District, New Al-Alamein City and New Mansoura City.

Backed by Malta’s Tourism Authority and Economic Development Agency, the country’s pavilion had its largest participation on the show floor to date. 

Also held concurrently was Cityscape Global Conference.

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