Organisers confident Cityscape Abu Dhabi will be bigger than ever, despite global slowdown

Cityscape goes back to its roots

Organisers confident Cityscape Abu Dhabi will be bigger than ever,despite global slowdown

With the global economic slowdown dampening enthusiasm for short-term speculative property investment, Cityscape Abu Dhabi which opens today (Sunday 19 April 2009) is going back to its roots, say organisers IIR Exhibitions.

Despite the downturn, however, the real estate event of the year for the capital of the United Arab Emirates will be more than 30% bigger than in 2008 in terms of exhibition space with virtually all major developers taking part.

Cityscape Abu Dhabi runs until Wednesday (22 April 2009) at the Abu Dhabi National Exhibition Centre and brings together investors, architects, designers, developers, government authorities and key decision makers involved in the design and construction of public and private real estate developments.

“This year we have nine halls plus the atrium, which is more than 40,000 square metres of exhibition space,” said Mark Goodchild, Exhibition Director for Cityscape Abu Dhabi. “That is almost 10,000 square metres more than 2008. In addition the event has the support and sponsorship of some of the region's biggest real estate players as well as the government of Abu Dhabi.”

A change in the profile of visitors compared with last year is expected by IIR Exhibitions. “Demand for real estate was at its peak during last year’s event and speculators and amateur investors were eager to capitalise on short term premiums,” Goodchild added. “That situation will not prevail this year and we expect the show to return to its real roots and by that we mean professional private and institutional investors looking at mid to long term opportunities.

“This is a reflection of the fact that while the global property development industry is facing challenges, Abu Dhabi is still moving ahead with infrastructure and project developments as well as taking a global lead in sustainable development.”
An example will be the unveiling at Cityscape by the Abu Dhabi Urban Planning Council of the massive Capital District project. Once completed, the 4,500-hectare Capital District will serve as a government and economic centre. It is planned as a sustainable, mixed-use city for 370,000 residents as well as major universities, hospitals and knowledge-based employment sectors, federal buildings, embassies and international institutions.

Running alongside the exhibition is the Real Estate Finance and Investment Conference, featuring more than 100 speakers from the world’s leading finance, investment and real estate companies. The conference will be a forum for in-depth discussion of current market challenges.

Real estate development and architectural companies at the forefront of the industry will be recognised at the Cityscape Middle East Real Estate Awards, sponsored by Etisalat, RAK Ceramics, Gaggenau and 2ig. Entries will be judged on their contribution to world architecture culture, innovation and imagination, respect for people, the planet, context, environmental awareness and appropriateness throughout the Middle East and North Africa.

Cityscape Abu Dhabi 2009 has received widespread backing from industry leaders. Headline sponsor is Mubadala Real Estate and Hospitality; Platinum sponsors are Aldar, Sorouh Real Estate, Al Qudra Real Estate, The Land Real Estate Investment and Development Company, Qatari Diar Real Estate Investment Company, and Burooj Properties; Investment sponsor is Abu Dhabi Investment House; Associate sponsor is the Abu Dhabi Department of Municipal Affairs. Gold sponsor is Tameer and Al Maabar; Silver sponsors are Aqaba Development Corporation and HSBC. The sponsor of the Real Estate Finance & Investment conference is Brand Experience. International Broadcasting Partner is CNN International and regional broadcasting partner is Al Arabiya.

For more details about Cityscape Abu Dhabi, please visit www.cityscapeabudhabi.com