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Major coalition developers and real estate consultants preparing to participate in Cityscape Global 2021 stated that the Covid 19 pandemic has forever changed the international, regional and local real estate business, which is the region’s key authority in real estate, real estate development and investment.
Forecasts by Key One Realty Group, KEO International Consultants, and Land Sterling indicate that technology and re-allocated buyer and investor wish lists will drive the development of the entire GCC industry. Prior to the 20th flagship live event, all three consultants will participate in Cityscape’s virtual investor intelligence summit and online seminar, which will be in the heart of the Expo 2020 venue-Dubai Exhibition Center (DEC)- Held. November 7-11.
The consultants are optimistic about the impact of the 2020 World Expo on the local industry. Key One, headquartered in the UAE, is expected to drive residential demand throughout the UAE. Diana Magariu, CEO of Key One Group, explained: “It allows people to visit Dubai, but it actually helps them understand the country, appreciate it and want to live in it.”
Regional consultant KEO believes that the 2020 World Expo will bring opportunities and challenges to the development and real estate industry. Darryl Custer, Executive Director of the KEO Design Department, commented: “Although the real impact of Expo 2020 will take some time to become apparent.” “Although the long-term benefits have not yet been determined, history is very friendly to the host countries of previous Expos. With the vigorous development of infrastructure projects and the growth of business demand, the whole of Dubai can already see economic changes.”
The British pound stated that it has benefited from the benefits of Expo 2020. “We have noticed an increase in international inquiries regarding various real estate services, such as the sale and acquisition of residential units, opening new offices, and acquiring new development land for potential hotel projects. Land Sterling Managing Director Hamza Betraoui explained that inquiries From countries with which the UAE has recently signed treaties and Dubai’s incentives to promote foreign direct investment.
“This event allows us to re-adjust our expansion strategy. We are considering setting up more local offices to cater to new businesses, strengthening our marketing team, and establishing future strategic alliances with foreign companies.”
Chris Speller, Cityscape Group Director of Informa Markets, the event organizer, said that the reimagined GCC market is taking Cityscape Global to an indispensable new stage.
“The transformative nature of the industry now makes Cityscape an important knowledge platform for everyone in the industry, whether it is a supplier, a developer or an investor,” he said. “Those who fail to keep up with emerging trends and the technologies and innovations required to respond to and take advantage of them will be left behind. Now, perhaps more than ever, Cityscape Global will be the place to accurately predict the future of the industry, its members The ability to establish partnerships will enable the industry to enter an era of reshaping driven by technology, changing lifestyles and reassessing the value of life.”
“Although real estate transactions will continue to increase in the next 6-12 months, I believe prices will still fall, which will make residential properties in Dubai attractive to investors. As people continue to look for larger houses, villa prices will increase. Stable, we expect the secondary market transaction volume to increase further. However, in order to trigger a recovery, investors are back and we believe it is necessary to reduce the housing supply,” Magariu added.
According to Custer, the COVID-19 crisis has also brought major changes to the design and development industry, especially in the way projects are programmed and built.
“In terms of design, we are seeing a growing demand for built-in flexibility in spaces, especially in public areas,” Custer commented. “Another change is the need for a higher level of built-in “future-oriented” to prepare for new and future technologies, all of which are designed to predict unknowable changes. In terms of programming and building projects, we see designers and related management There is a greater need for comprehensive thinking between institutions and developers to jointly develop more comprehensive solutions.”
The main emerging development trends identified by KEO include net-zero design and decarbonization as part of climate action, sustainable cities and communities that provide users with good health and well-being, sustainable infrastructure innovation, and responsible material sourcing and production. The benefits of circular economy, recycling and sustainable resources.
On-site activities will be conducted in accordance with Informa AllSecure, Enhanced health and safety standards, raising the standards for safe, hygienic, efficient and high-quality organized event experience. For more information, please visit: www.cityscapeglobal.com
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