Cityscape takes off with 500-strong team of North American brokers

Inayat-ur-Rahman

Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA), officially opened Cityscape Global 2019 - the 19th annual edition of the gateway event for regional real estate investment - at Dubai World Trade Centre (DWTC) on Wednesday.

Sheikh Ahmed was joined by a delegation of top-ranking VIPs, including Sultan Butti Bin Mejren, Director General of the Dubai Land Department, and Helal Saeed Almarri, Director General of the Dubai World Trade Centre Authority (DWTCA) and the Dubai Department of Tourism and Commerce Marketing (DTCM), amongst others.

During the opening tour, Sheikh Ahmed stopped for detailed briefings at numerous exhibitors’ stands, including the Dubai Municipality, where he received an update on its Building Information Modeling (BIM) and automated code checking systems, which cover all construction projects in the Emirate of Dubai.

Sheikh Ahmed also visited the stands of Nakheel Properties; the Saudi Arabia Ministry of Municipal & Rural Affairs; Aldar, the Abu Dhabi-headquartered real estate development, management and investment company; Binghatti Developers; Tilal Properties, a joint venture between Sharjah Asset Management and Eskan Real Estate Development; RAK Properties, a PJSC formed with the support of the Government of Ras Al Khaimah; District 2020; Arada Developments; Azizi Developments; and Meydan Real Estate.

During the official VIP tour, Sheikh Ahmed also met representatives from a 500-strong delegation of North American agents and brokers attending Cityscape Global to explore their clients’ portfolio opportunities in Dubai. With combined annual sales of $2.2 billion in 2018, the delegation is part of the show’s strategic partnership with the Dubai Land Department and Dubai-based Century 21.

With major domestic real estate development companies represented across Cityscape Global, the show also features numerous country pavilions outlining property development and investment opportunities in Bahrain, Egypt, France, India, the Kingdom of Saudi Arabia, Oman, Pakistan, and Russia, Turkey and the UK.

With DLD announcing on the eve of the show that the Emirate’s real estate sector has generated an investment value of more than Dhs56 billion in 2019, Chris Speller, Group Director of Cityscape, which is organised by Informa Markets, reiterated the catalyst role Cityscape Global plays in evolving and driving the sector’s long-term sustainability.

“Cityscape Global provides a strategic platform for local and international real estate developers to display local, regional and international real estate market projects to an audience of active and engaged investors and buyers,” said Speller.

“In that vein, our 500-strong North American delegation of major brokers represents the latest evolution to our investor relations outreach programme, comes as a direct result of our long-term partnership with Dubai Land Department – an association which continues to drive increased confidence in both Cityscape Global and the regional real estate sector.”

Cityscape Global is sponsored by The Ministry of Municipal and Rural Affairs in Saudi Arabia as Platinum Sponsor; Arada as Official Partner; DLD as Strategic Partner; and Nakheel as Foundation Partner.

Farhad Azizi, CEO of Azizi Developments told Gulf Today that as one of the region’s key real estate events, Cityscape Global is an important platform for Azizi Developments to showcase the impressively diverse portfolio of projects that we are developing across the emirate. At a time when the sector’s regulatory authorities are showing invaluable support to the industry, and in light of upcoming opportunities like Dubai Expo 2020, we are confident that this year’s Cityscape Global will prove to be a fertile ground for us to reach out to our potential customers.”

“It is a buyer’s market, with affordable prices and outstanding offers that allow investors to get promising returns through growth-inclined rental yields and value appreciation, and that enable end-users to move from renting to lucrative, cost-saving home ownership. We are excited to introduce more property intenders to the value that we can present them with”, he added.

Riviera, Dubai’s new waterfront landmark and the firm’s flagship community project located in the heart of Meydan, is one of the projects that will be highlighted during the event. With its extensive canal walk featuring artisan eateries and boutiques, its retail boulevard, and Les Jardins, a lush-green social space, Azizi Riviera draws inspiration from the French-Mediterranean lifestyle. An escape within the city, the development immerses residents in a ‘joie de vivre’, a celebration of life and an exultation of spirit. Riviera comprises over 16,000 units across 71 mid-rise buildings, and is in proximity to all key business, leisure and retail hubs of the city.