The Cityscape Abu Dhabi, the premier real estate development and investment event of the UAE capital, opened to record attendance with a 120 per cent increase upon last year’s event.

The exhibition was inaugurated by Sheikh Mohammed bin Zayed Al Nayhan Abu Dhabi crown prince and deputy supreme commander of the UAE armed forces, at the Abu Dhabi National Exhibition Centre.

The burgeoning property market in the Gulf shows no signs of slowing down. Roads to the centre were initially clogged from early morning and massive queues surprised even the organisers IIR Middle East.
 
The show was sold out some months ago, with over 300 confirmed exhibitors covering more than 30,000 sq m of exhibition space.

Mark Goodchild, project manager, Cityscape Abu Dhabi said: “We have been overwhelmed by the response on the first day of the exhibition. We’ve actually had to deploy extra staff, such was the demand and we didn’t want people waiting around. To anyone who was, I offer our apologies for the inconvenience.”

Goodchild estimates the event, which runs for three days until May 15, based upon the first morning’s attendance, could easily reach in excess of 30,000 visitors, double the numbers recorded last year.

“A lot of people have been talking about the global credit crunch and the impact on property markets, but judging by today there is still a massive interest in the Gulf and Middle East,” added Goodchild. “Liquidity is alive and well, certainly here in the Capital and so are the investment opportunities.”

In terms of ‘home-grown’ support, the Abu Dhabi government and locally-based real estate heavyweights have shown full support for the industry showcase.

Major local developers such as Mubadala, Sorouh Real Estate, Aldar Properties and Al Qudra Real Estate will all have a significant presence.

Two parallel conferences will run alongside on sustainable development and real estate finance and investment.

The green theme continues at the Cityscape Abu Dhabi awards dinner at the Emirates Palace in Abu Dhabi tonight which will recognise excellence in real estate investment and development, including Islamic finance and sustainability awards.-TradeArabia News Service