Major developers from the UAE and around the world have launched a number of high-profile projects comprising leisure, hospitality, retail, commercial and residential components at the Cityscape Global expo in Dubai.

The expo, which was officially opened by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, on Tuesday, runs until tomorrow.

The Middle East’s largest and most influential property investment show saw thousands of international and local visitors descend upon Dubai World Trade Centre on the first day.

A total of 324 international and regional developers are showcasing their projects on a 41,000-sq-m area, according to the event organisers.

A significant focus has been placed on completing phases of developments ahead of the World Expo 2020, they stated.

The Villages, an innovative concept in urban living has been unveiled by Dubai South; while Meydan One by Meydan City Corporation and Burj 2020 by Dubai Multi Commodities Centre (DMCC) were the other debut projects.

Speaking at the Cityscape Global Conference, Lara Al Barazi, the head of Real Estate Research, YouGov, said: "The positive market sentiment and growth expectations in Dubai illustrated by UAE industry experts, together with an anticipated rise in sales and rental property prices, are all indicative of how appealing the current market is for investment."

"As long as Dubai provides stability and greater investment protection, the real estate market will remain a priority amongst investors," noted Al Barazi.

The show, which is set to attract 47,000 participants from around the world, acts as a barometer that reflects where the property market in the UAE and the wider region currently stands, said the organisers.

Wouter Molman, the director of Cityscape Group, said: "All indications in the run-up to the show were pointing towards an incredibly busy, profitable opening day and the attendance so far from international investors has been impressive."

“Given the growth of the exhibition and strong visitor turnout to date, we are confident that the event will strengthen the long-term confidence in the market for both investors and home buyers,” he observed.

A number of major developers in the UAE are present at the event, with market leaders including Emaar, Dubai Properties, Nakheel, Meraas, Damac, Dubai South, Union Properties and Deyaar showcasing their latest portfolio to regional and international investors.

Projects taking centre stage at the event include 1/JBR, a new luxury residential development by Dubai Properties; Creekside 18 residences in Dubai Creek Harbour by Emaar, and Palm Promenade by Nakheel, which will transform Palm Jumeirah trunk into a pedestrian-friendly beach, park, retail and café complex.

Gautam Sashittal, the chief executive of DMCC, said: "This is our debut show and what a great start we have had. We’re very excited to profile two very important projects, Burj 2020 district and 1 JLT tower."

"We’ve seen a lot of excitement in our stand, it has been full of visitors all day. The event is creating the right opportunities for us and it is absolutely the best venue for DMCC to launch such important projects," he noted.

A major highlight was Sharjah Waterfront City, a series of 10 islands interconnected by man-made canals and spread across 36 km of coastal land on the north-eastern coast of Sharjah, which proved a popular hit with visitors.

The development, once completed, is expected to be the largest commercial, residential and tourism development in the emirate, said Hayssam El Masri, the president of the Sharjah Oasis Real Estate Development.

"As a developer, we are extremely excited to officially launch Sharjah Waterfront City, a project which is so ambitious in its planning, so grand in its nature and so effective in its economic and social impact at Cityscape Global. The interest that we have received so far from investors and from the public has exceeded our expectations," stated El Masri.

"Our objective is to develop Sharjah Waterfront City as the epitome of privacy, luxury and status to foster what we like to call, a modern utopia; the ideal destination for those in search of a new home, not just an escape, but a life where our synergetic developments connects societies and cities for a sustainable future," he added.

“We believe we can significantly add value to the emirate’s overriding goal of establishing itself as the cultural capital of the UAE.”

While all the big local players are out in force at Cityscape Global this year, international representation is also strong, with Turkey representing the largest international pavilion, covering 4,200 sq m of exhibition space, said Molman.

Vadistanbul, one of the 50 Turkish exhibitors taking part in the show, launched the third stage of its Vadistanbul project, which consists of a 120,000-sq-m office area, 1,000 flats and 24,000 sq m of retail stores which will bring the total area of the development to 110,000 sq m, he added.-TradeArabia News Service