Cityscape paving the way for Dubai’s next chapter

Cityscape paving the way for Dubai’s next chapter

Dubai’s reality check leads to more transparent business models and considered decisions as new real estate era beckons says Cityscape Dubai organiser

Worldwide economic upheaval combined with a radical shakeout in the regional investment landscape promise to make Cityscape Dubai 2009 (5-8 October) the most important real estate event in Dubai’s history, according to leading industry experts.

“With tumultuous international circumstances having taken their toll on the Middle East’s most liberalised economy, now is the time to focus on reality and the opportunities that still exist in this most dynamic of Gulf cities,” says scholar, investor and author Dr Christopher M. Davidson.

“There’s no escape from the fact that this year we will be meeting under very different circumstances,” added Davidson author of Dubai: The Vulnerability of Success, and a keynote speaker at the Cityscape Dubai conference. “We are living in a fast changing world, the very foundations of which have been rocked and will continue to be buffeted by unprecedented economic turbulence.”

Times of volatility will eventually be over, Davidson believes. “The growth and vision that has accompanied the rise of this astonishing city is nothing short of phenomenal,” he said. “And that same energy will find a way forward, paving the way for Dubai’s next chapter.”

Cityscape Dubai 2009, now in its eighth year and part of the largest business-to-business real estate investment and development brand in the world, encompasses a major exhibition and a series of conferences taking place at the Dubai International Exhibition and Convention Centre.

Davidson will give a keynote address – 2010: Can Dubai weather the storm? – on the opening day of the main Cityscape Dubai conference. The speaker line-up for the conference is unrivalled in the Middle East, bringing together some of the world’s most powerful investors, developers and economists for five days of discussion on the global real estate market. Included among them is Donald Trump Jnr., President of the Trump Organisation on Dubai: Why it is a long term investment for us.

In 2008, the Cityscape Dubai attracted 80,297 participants and 954 exhibitors. “Clearly, while it is still far too early to make accurate forecasts, we are not anticipating the same level of participation,” said Chris Speller, Cityscape Group Director.

“Like the rest of the world, the real estate investment business in Dubai and the region has had a reality check,” Speller added. “We are now seeing the emergence of more measured, more transparent business models. While considered decisions may take away some of the market dynamism, that is probably no bad thing at this present time.

“With a return to real market values Cityscape Dubai, like its sister event in Abu Dhabi, will return to its roots free from amateur investors and speculators. As such Cityscape Dubai 2009 will be truly business-to-business and the definitive platform with the greatest influence on the real estate industry.”

Alongside the main Cityscape Dubai event is the World Architectural Congress from 5 – 7 October at which some of the world’s most respected architects and visionaries will share with their experiences and outlook on architecture in a global recession.

The Cityscape Dubai Facilities and Asset Management Conference is on 4 – 8 October attracting delegates in the design, build and post-occupancy of buildings. There will also be a Cityscape Dubai “Green Day” on 7 October which will include green communities, green construction methods, energy saving issues, financing green buildings, regulations, facilities management, whole life costs and new materials and products.

For more information about Cityscape Dubai 2009, please visit www.cityscape.ae