01 April 2014

MORE than 120 new and returning exhibitors eager to tap into the renewed investor confidence in Abu Dhabi and across the GCC are expected to take part in the eighth edition of Cityscape Abu Dhabi, which will take place this month (April 22 to 24) in Abu Dhabi, UAE.

The three-day event will take place at Abu Dhabi National Exhibition Centre (Adnec) under the patronage of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces.

The participation of a good number of new exhibitors underlines the upbeat sentiment of Abu Dhabi’s real estate market where the residential, office, retail, and hotel sectors is gearing up for double digit growth this year, according to Informa Exhibitions, the organiser.

“According to global property experts Jones Lang LaSalle’s (JLL) Q4 2013 Abu Dhabi Real Estate Overview report, 22,000 residential units are expected to be delivered in Abu Dhabi this year, a 10 per cent increase year-on-year, bringing the total number of units in the emirate to 240,000,” said a spokesman for the organiser.

“Delivery of office and retail space for the remainder of 2014 is also expected to grow by 16 per cent and 20 per cent respectively, with 507,000 sq m of office space and 388,000 sq m of retail space due to be added to existing stock by the end of the year,” he added quoting the report.

Among the key exhibitors returning in 2014 having not participated last year include Tamouh, Baniyas, and Masdar, while first-time exhibitors include Farglory, and the event’s official broker Flash Properties and headline sponsor Ejadah Asset Management Group.

Other key exhibitors at Cityscape Abu Dhabi include Platinum sponsors Emirates Steel and official mortgage provider Abu Dhabi Finance, while a strong international contingent is led by major developers from Turkey, Egypt, the US, Russia, the UK, and Oman.

Wouter Molman, director of Cityscape Group at Informa Exhibitions, said: “The outlook for Abu Dhabi’s real estate sector is certainly positive as more jobs and strong economic performance contributes to growing investor confidence, while the general market sentiment across the whole of the UAE has improved since Dubai’s successful World Expo 2020 bid.

A VIP networking reception will also provide a platform for influential decision makers and international investors.

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