24 September 2009
The organisers of Cityscape Dubai say they are willing to accept last-minute applications for exhibition space - but have ruled out offering discounts even though rates are seven per cent higher than last year.
The four-day real estate show opens at the International Convention and Exhibition Centre on October 5.
"We can accept new applications for a couple of more days, but only if the companies are willing to be accommodated in the space that is available," Rohan Marwaha, Group Director of Cityscape, told Emirates Business.
A spokesman for RAK Properties said the company was seeking a price reduction before confirming its participation.
"We are hoping to take part in Cityscape but right now we are not sure about it," he added. "We have not yet confirmed our participation with the organisers. There has been a price increase and we are negotiating over the cost."
RAK Properties had 252 square metres of exhibition space at last year's Cityscape.
"We are negotiating for the same space, however, we do not have the same slot that we had last year."
The Abu Dhabi-listed developer has not set a deadline for announcing whether or not it will take part in Cityscape, said the spokesman, who added: "It depends on our management."
Marwaha said any suggestions that reduced prices were available as "untrue".
"We have a set price structure and we haven't reduced any prices for anyone," he said. "All the companies have to abide by all the rules and regulations."
He refused to disclose the price being charged per sq ft, but said rates had been increased by seven per cent compared to last year.
There will be a 30-per cent decline in space and exhibitors at this year's show. Some 215 exhibitors will take part compared to last year's 300, and the event will be spread across halls two to eight.
The organisers are willing to help companies that are facing financial problems.
"We discussed alternative payment plans with those who were unable to make payments upfront," said Marwaha. "But they have to pay in full before the event begins."
He said the organisers work closely with the regulatory authorities and government-backed master developers to understand their objective and market trends.
"We do a lot of research to understand the needs of the market.
"Besides, this year we have introduced Cityscape Connect session, a non-profit initiative, to help the market," said Marwaha.
No discounts for Emaar, Nakheel
Cityscape's organisers are holding discussions with two or three UAE-based developers about whether they will take part, said Marwaha. "We are still in talks with two to three developers," he said, refusing to give names.
Last week Emaar Properties and Nakheel, the real estate arm of Dubai World, said they would take part after they initially announced they would not.
"We haven't offered them any discounts," added Marwaha.
Emirates Business reported earlier that Limitless had decided not to participate.
Who is in, who is not
Rakeen, the Ras Al Khaimah-based master developer, and Aldar Properties are taking part in Cityscape, but Sorouh Real Estate is giving it a miss. "We are participating in Cityscape and have even increased our exhibition space," said Dr Khater Massad, Rakeen's Executive Chairman. "We will be showcasing our projects and are optimistic about the event."
Last year the company booked Stand ZG 20 in Zaabeel Hall and unveiled the new design of its Dh60 billion Dana Island project.
A Sorouh spokesman said: "We will not be hosting a stand at Cityscape Dubai as we decided to concentrate on Cityscape Abu Dhabi held earlier this year. This is due to our focus on delivering our projects, which are all based in Abu Dhabi.
"We are not launching any new developments for the time being; instead we are focusing on prudent cost management and meeting delivery schedules."
Aldar's Media and Marketing Director Ousama Ghannoum, when asked if the developer would be taking part, said: Cityscape is always an important date in Aldar's calendar as it provides us with a great opportunity to showcase the progress of our projects. And it is the perfect forum for meeting all the key players in the market, from investors to developers to authorities and consultants."
Mohammed A Hmeid, Head of Marketing, Omniyat Properties, said: "It is an excellent opportunity to showcase the progress and milestones that Omniyat has accomplished on the ground over the past year, including project completion and the launch of new business units designed to assist our investors and partners with the management of their property."
Amlak Finance will not be participating directly, but Tariq Ajaz, its Senior Vice-President, Corporate Services, said: "The event, historically, has been very successful. Even last year's event drew large numbers of visitors. "We have recently read in many independent reports that the market has stabilised. This is the right time to have such an event that can consolidate the offerings in the market and present them under one roof."
The organisers of Cityscape Dubai say they are willing to accept last-minute applications for exhibition space - but have ruled out offering discounts even though rates are seven per cent higher than last year.
The four-day real estate show opens at the International Convention and Exhibition Centre on October 5.
"We can accept new applications for a couple of more days, but only if the companies are willing to be accommodated in the space that is available," Rohan Marwaha, Group Director of Cityscape, told Emirates Business.
A spokesman for RAK Properties said the company was seeking a price reduction before confirming its participation.
"We are hoping to take part in Cityscape but right now we are not sure about it," he added. "We have not yet confirmed our participation with the organisers. There has been a price increase and we are negotiating over the cost."
RAK Properties had 252 square metres of exhibition space at last year's Cityscape.
"We are negotiating for the same space, however, we do not have the same slot that we had last year."
The Abu Dhabi-listed developer has not set a deadline for announcing whether or not it will take part in Cityscape, said the spokesman, who added: "It depends on our management."
Marwaha said any suggestions that reduced prices were available as "untrue".
"We have a set price structure and we haven't reduced any prices for anyone," he said. "All the companies have to abide by all the rules and regulations."
He refused to disclose the price being charged per sq ft, but said rates had been increased by seven per cent compared to last year.
There will be a 30-per cent decline in space and exhibitors at this year's show. Some 215 exhibitors will take part compared to last year's 300, and the event will be spread across halls two to eight.
The organisers are willing to help companies that are facing financial problems.
"We discussed alternative payment plans with those who were unable to make payments upfront," said Marwaha. "But they have to pay in full before the event begins."
He said the organisers work closely with the regulatory authorities and government-backed master developers to understand their objective and market trends.
"We do a lot of research to understand the needs of the market.
"Besides, this year we have introduced Cityscape Connect session, a non-profit initiative, to help the market," said Marwaha.
No discounts for Emaar, Nakheel
Cityscape's organisers are holding discussions with two or three UAE-based developers about whether they will take part, said Marwaha. "We are still in talks with two to three developers," he said, refusing to give names.
Last week Emaar Properties and Nakheel, the real estate arm of Dubai World, said they would take part after they initially announced they would not.
"We haven't offered them any discounts," added Marwaha.
Emirates Business reported earlier that Limitless had decided not to participate.
Who is in, who is not
Rakeen, the Ras Al Khaimah-based master developer, and Aldar Properties are taking part in Cityscape, but Sorouh Real Estate is giving it a miss. "We are participating in Cityscape and have even increased our exhibition space," said Dr Khater Massad, Rakeen's Executive Chairman. "We will be showcasing our projects and are optimistic about the event."
Last year the company booked Stand ZG 20 in Zaabeel Hall and unveiled the new design of its Dh60 billion Dana Island project.
A Sorouh spokesman said: "We will not be hosting a stand at Cityscape Dubai as we decided to concentrate on Cityscape Abu Dhabi held earlier this year. This is due to our focus on delivering our projects, which are all based in Abu Dhabi.
"We are not launching any new developments for the time being; instead we are focusing on prudent cost management and meeting delivery schedules."
Aldar's Media and Marketing Director Ousama Ghannoum, when asked if the developer would be taking part, said: Cityscape is always an important date in Aldar's calendar as it provides us with a great opportunity to showcase the progress of our projects. And it is the perfect forum for meeting all the key players in the market, from investors to developers to authorities and consultants."
Mohammed A Hmeid, Head of Marketing, Omniyat Properties, said: "It is an excellent opportunity to showcase the progress and milestones that Omniyat has accomplished on the ground over the past year, including project completion and the launch of new business units designed to assist our investors and partners with the management of their property."
Amlak Finance will not be participating directly, but Tariq Ajaz, its Senior Vice-President, Corporate Services, said: "The event, historically, has been very successful. Even last year's event drew large numbers of visitors. "We have recently read in many independent reports that the market has stabilised. This is the right time to have such an event that can consolidate the offerings in the market and present them under one roof."
© Emirates Business 24/7 2009
