Top property expo eyes 'big5' investors
Dubai, September 28, 2013
Investors from Britain, India, Iran, Pakistan, and Russia have been tipped as the top five with the most financial potential at Cityscape Global next month, as the final countdown begins for the Middle East’s leading real estate showpiece event.
Wouter Molman, the exhibition director of Cityscape Global, which takes place from October 8 to 10 at the Dubai World Trade Centre, said that investor confidence has swelled to new heights in the lead-up to the three-day event, with strong interest in particular from the ‘big five’ foreign investors.
“Based on the latest report by Dubai Land Department (DLD), Dubai attracted nearly $15.9 billion in investments in 2012, making it a defining year for the real estate market,” said Molman.
“Investors from India, Iran, Pakistan, Russia and the UK accounted for 39 per cent of that figure, investing a combined $6.2 billion in Dubai property.”
“The indications in 2013 and beyond are that this increasing confidence will continue, and at Cityscape Global this year we expect a very strong turnout of visitors from all over the world, and in particular from these countries as they look to maximise their investment potential in this lucrative market.”
According to the DLD, Indian nationals invested a total of $2.4 billion in Dubai real estate in 2012, British - $1.3 billion, Pakistanis - $1.1 billion, Iranians - $826 million and Russians $640 million.
GCC national investors also returned to Dubai real estate in full force in 2012, injecting a combined $4.8 billion into the market. Of that figure, 1,955 UAE nationals accounted for $3.5 billion worth of investments (73 per cent of GCC national investment), it added.
"With a GDP growth of 4.4 per cent in 2012, high consumer confidence, strong population growth and its safe haven reputation, Dubai has some very strong fundamentals supporting the re-emergence of the emirate’s real estate sector," remarked Molman.
“At Cityscape Global last year, we had more than 25,000 participants from 93 countries. More than 70 per cent of the visitors attending specifically for investment opportunities voiced that they were looking to spend more than $500,000, and there will be plenty of opportunities this year as we anticipate major new announcements during the show by participating developers,” he stated.
Organised by Informa Exhibitions, Cityscape Global is now in its 12th edition, featuring more than 200 international and regional exhibitors covering 25,000 sqm of exhibition space. The global real estate showcase has been on an upward growth curve since 2010, and will be the largest it has seen in four years.
All the major UAE-based developers will have major roles to play this year, including Foundation Sponsors Emaar, Nakheel, and Dubai Properties Group, and Silver Sponsors Anantara Residences and Pacific Ventures.
The three-day event also returns with Barwa as the strategic sponsor; TRISL Real Estate as the official broker; DLD as supporter; Al Arabiya as regional broadcast partner; and CNN as the international broadcast partner.
Continuing its strong international appeal, Cityscape global will have eight country pavilions, led by the 1,500 sqm Turkish pavilion, featuring more than 30 companies including Agaoglu, Eroglu, Projebeyaz, Vadistanbul, and NEF.
Cityscape is co-located with three dedicated and expert-led conferences, the Global Real Estate Summit, Future Cities, and the Mena Mortgage and Affordable Housing Congress, and will also feature the Cityscape Awards for Emerging Markets, taking place at the JW Marriot Marquis Hotel Dubai on October 9.-TradeArabia News Service