$5.4bn contracts awarded for residential projects in UAE
Dubai, August 4, 2014
Contracts worth $5.4 billion were awarded for UAE residential projects in the first half of 2014, according to a new report from Citiscape Global.
While Dubai leads the Arab world as a model for future cities, industry experts say emphasis on design and planning is the key to sustaining major property investment, the report said.
International design, engineering and project management consultants Atkins will use the Middle East’s largest property showcase, Cityscape Global, to underline why excellent design, with a strong lifestyle emphasis, is vital to keep attracting real estate investors.
The 13th edition of Cityscape Global will host more than 250 exhibitors from September 21-23 at the Dubai World Trade Centre.
Atkins, the architects behind the luxury Al Habtoor Residences on Sheikh Zayed Road, as well as a number of high profile cultural and leisure destinations currently under development in Dubai, will be among the exhibitors.
“With the restored investor confidence in the real estate market, competition between developers is fiercer than ever and the emphasis on excellent design couldn’t be higher,” said Rod Stewart, property managing director of Atkins.
“The developer community is now far more mature and advanced than during the last property boom, and they need to look at a whole basket of criteria based on the context and place in which a development sits. It’s vital that new buildings provide a desirable, user-friendly lifestyle offering.
With sustainability now a common theme across many new developments, Lebanon-based architects Green Studios, which will be exhibiting its patented hydroponic outdoor green wall for the first time at Cityscape Global, believes green architecture is the future.
The green wall, which can retain three times more water per square metre than any other system, comes equipped with a command and control smart system that allows any installation to adapt to outside weather conditions, ensuring a healthier lifecycle than any other methods.
Jamil Corbani, CEO of Green Studios said: “Dubai is leading the Arab world as a model for future cities, and with new regulations focusing on environmentally friendly procedures, green architecture is becoming an increasingly popular option for developers.
Supported by the Dubai Land Department, Cityscape Global is the annual meeting point for key real estate investors, developers, investment promotion authorities, architects, designers and other real estate professionals to drive growth in real estate investment and development across emerging markets globally.
Co-located with Cityscape Global are three dedicated conferences – the Global Real Estate Summit, Future Cities and the Real Estate Brokers Summit – which are expected to bring together more than 1,000 delegates and speakers who will explore opportunities and find solutions to key challenges affecting the industry today.
Also running in tandem with the exhibition is the Cityscape Awards for Emerging Markets. The awards programme has attracted hundreds of entries from developers and architects behind real estate developments across emerging markets globally. Submissions are now being reviewed by an independent judging panel. Winners will be announced at a ceremony at the Armani Hotel, Burj Khalifa, on September 22. - TradeArabia News Service