Developers eye Cityscape Abu Dhabi 2017 to propel mega real estate projects
International and domestic realty developers are eyeing the 11th edition of one of region’s biggest property and real estate events, to showcase mega projects. The Cityscape Abu Dhabi 2017, scheduled from April 18-20 at Abu Dhabi National Exhibition Centre, will see a number of developers putting a spotlight on existing and upcoming developments. Since it is visited by seasoned real estate players and first-time buyers with equal enthusiasm, the event is an ideal marketing forum for real estate developers offering commercial, residential and investment opportunities.
Developing needs
With the city’s population growing in numbers each passing day, the need for real estate options in residential, commercial as well as hospitality segments of the market is fast arising. Also, these options need to fall in more varied price brackets rather than for the luxury segment alone. The supply of affordable options has become all the more necessary given Abu Dhabi’s plans of becoming a leading tourism destination in the region within the next decade. The capital’s plans to host 7.9 million annual tourists by 2030 needs a solid infrastructure and real estate stock that caters to the needs of all sorts of end users across all price points. But the government and developers have taken this need into account well in advance, and a number of projects for various market segments will probably be launched at the upcoming event.
Key projects
This year’s Cityscape will feature some notable projects by renowned international and domestic developers. RAK Properties, the leading real estate developer in Ras Al Khaimah will be showcasing their AED 5 billion project in its grand development in Mina Al Arab. RAK Properties plan to introduce investors and buyers to Gateway Residences, the first low-rise residential tower in Mina Al Arab.
Gateway Residences will have 144-apartments suitable for young families. Sharjah’s Tilal Properties will be participating with their state-of-the-art Tilal City project. The large community will provide international clients a chance to own properties in Sharjah on a 100-year lease, while Arabs will be able to buy properties on a freehold basis.
International attractions
Another lucrative project coming to the Cityscape this year will take investors to the tropical paradise that is the Maldives. Managed by the Maldives government’s Housing Development Corporation Ltd (HDC), Hulhumalé will be the first planned smart city in the tourism hub and its most ambitious land reclamation project. The city will accommodate close to 240,000 residents over an area of 400 hectares.
Hulhumalé has been designed to be a smart city with smart traffic management systems, automatic surveillance, ERP systems and efficient public transportation systems. Besides, a smart grid will enhance residences’ experiences of water, electricity, fire and sewage systems.
Apart from the attraction from Maldives, a luxury development from Morocco will also be targeting buyers in the UAE. The Ritz-Carlton Marrakech will built in the heart of Morocco’s fourth largest city and will offer 85 private residences, an 80 key Ritz-Carlton hotel and polo club. The developers will be unveiling the first phase of the villas exclusively for investors in Abu Dhabi.
The event
The Cityscape Abu Dhabi is held under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Besides providing a launchpad for real estate projects, the event will also offer crucial insights into the market to visitors. Also, the event is to have a new show floor feature, Cityscape Talks, in which renowned industry experts will highlight the needs of the market and discuss possible solutions. Cityscape Talks will run throughout the exhibition and offer information for visitors and industry experts across a wide range of topics straight from the show floor. Manazel Real Estate, Aldar Properties, Eagle Hills, Mubadala, and United Gulf Properties along with first timers Al Sharq, the National Investment Corporation and Tiger Properties are among dozens of local and international exhibitors that will be part of the event.
