Jul 18 2013
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Dubai to host Mideast's largest property show amid confidence
According to the Dubai Land Department, more than AED50 billion was invested into Dubai real estate in 2012, while Cityscape Global, the Middle East's largest and most influential international real estate event, is expected to grow by 50 per cent for the second year running.
Several Dubai-based developers will be exhibiting for the first time at Cityscape Global, further underlining the emirate's property market revival, and many more major developers will be returning to the show after a hiatus following the global recession in 2008.
MAG Group, Omniyat, Tanmiyat, Jumeirah Golf Estates and Union Properties return for the first time in several years with new developments and project updates, while Diamond Developers, SKAI, and Sobha Group take their place among a group of newcomers to the showpiece event, which will take place on Oct. 8-10 October at the Dubai World Trade Centre.
The event's organizers, Informa Exhibitions, also expect several exciting new project launches from local powerhouses including Emaar, Nakheel, Dubai Properties Group, Meraas, Dubai World Central, and Meydan, as the key developers look to drum up demand from investors at their largest show stands yet.
"Jumeirah Golf Estates is one of the most eagerly anticipated luxury residential golf communities in Dubai, which has generated significant interest from investors around the world," said Muna Al Haddad, Commercial Director, Jumeirah Golf Estates.
"With the first batch of villas from the development set for handover in the fourth quarter of this year, it was imperative that we participate in Cityscape Global taking place in October, given its status as the region's biggest real estate event."
"We look forward to capitalizing on the event's broad appeal to network with potential investors and industry peers, while promoting the distinguishing factors of Jumeirah Golf Estates that make it one of the region's most attractive sporting, leisure and luxury residential destination."
For the first time since 2008, all sectors of the Dubai real estate market are now on the upswing. According to global real estate service firm, Jones Lang LaSalle, 2,200 units were added to Dubai's residential stock inventory in first quarter of 2013, bringing the total inventory in the emirate to 357,000 units, with a further 42,000 estimated to be delivered in the next two years.
Maintaining its appeal to international developers, Cityscape Global has attracted dozens of big-name organizations from emerging real estate markets this year. Turkey represents the largest out of eight international pavilions, as more than 20 developers including Agaoglu, Eroglu, Vadistanbul, and NEF showcase their latest mega-projects in the country's property market.
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