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Cityscape Global, the UAE’s leading real estate event, kicks off next week in Dubai with a fresh new look as organizers change tactics to accelerate major local, regional and global investment in the UAE’s booming real estate market.
“The Cityscape Dubai 2022 experience has changed to better connect individual buyers, consultants and private property investors with leading developers and real estate agents,” said Alex Heuff, Exhibition Director, Cityscape Dubai, in an exclusive interview. TradeArabia/Gulf Construction Online.
Cityscape will open at the Dubai World Trade Center on 21 November, a three-day event connecting homebuyers with leading developers and offering visitors endless opportunities to invest in the region’s burgeoning real estate market.
The real estate landscape in the UAE is constantly evolving. In the past year, there has been a huge demand for off-plan properties and leisure and entertainment venues across the UAE. The commercial real estate sector is also in high demand, so 2023 could also be a big year for the industry, Heuff said.
Excerpt from the interview:
It is reported that Cityscape Dubai will have a new look this year. What changes can visitors expect?
The strategic shift aims to continue to increase the number and value of real estate transactions in Dubai, as buying a home, especially your first home, is a momentous moment – and it is clear that more and more people are spending time in the emirate that moment. With a brand new approach for this year’s edition, we will provide practical support to help homebuyers make informed decisions, thanks to expert financial and homebuying advisors who will be on hand to give expert advice.
With some of the region’s leading property developers already signed up, we’ll be showcasing the latest projects – both off-the-plan and off-the-shelf – available for purchase on the spot.
In addition, usually an invitation-only event, this year’s Cityscape Intelligence Talks will be open to the public and all visitors are encouraged to interact with key speakers from government agencies, prominent real estate firms and industry analysts to learn more Information about the market, before buying a property.
Beyond that, Cityscape will also offer visitors an opportunity to relax and network over drinks, as the event will see a licensed bar for the first time ever.
What are the key areas of the exhibition?
This year, Cityscape Intelligence Talks will be held in the exhibit halls, giving all visitors access to industry experts. Talks will highlight sustainability and the region’s efforts to achieve net zero goals, share insights into market trends in the region, present CityscapeWIRE: Women in Real Estate discuss the importance of women on boards and how to strengthen relationships among women in the industry Relationships Dubai’s 2040 City Master Plan discusses growth and re-growth strategies.
How did the exhibitors respond to the show? How do you feel about the number of visitors this year?
Compared to previous years, our lineup of exhibitors has been outstanding. Not only has there been an influx of local developers this year, but we have also seen more and more international companies vying to participate in the exhibition. Four countries – Egypt, Pakistan, Turkey and Azerbaijan – will have national pavilions at the fair. Turkey looks to cement its image as a premier investment destination, with pavilion participants including some of the country’s most respected developers such as Ems Yapi, D Vizyon and Areas Insaat. Meanwhile, Pakistan is riding a wave of positive forecasts for its real estate sector, which analysts predict will benefit from a renewed focus on sustainable urban development. The main Pakistani exhibitors were Premier Choice Giga GRO and DCC Developments.
Visitors to Cityscape Dubai 2022 will come from all over the world, as Dubai is a cosmopolitan city that places great emphasis on expats. This year, our key audience markets include India, UK, Russia, China, Ukraine, Turkey, Canada, Pakistan, Italy, Spain, Saudi Arabia, Qatar and Germany.
For exhibitors and visitors, our tracking is very good and on target compared to previous editions.
With Cityscape events happening across the region, how do you differentiate Cityscape Global from those editions?
In the past, Cityscape Dubai followed the same route as Cityscape Global, but based on the current local market landscape, the 2022 edition has changed direction to meet the needs of the public and the market.
Cityscape Dubai has a particular focus on the UAE and domestic expatriate market, with a main focus on business-to-consumer. Visitors will have the opportunity to browse, identify and purchase properties from leading developers directly at the exhibition. Other regional Cityscape events continue to cater very well to the business-to-business and business-to-investor markets.
What are the current challenges and opportunities facing the regional real estate market today?
As global markets remain at high levels of volatility, one of the biggest challenges we continue to face is inflation. Higher inflation makes it more expensive for potential homebuyers to obtain a home loan and delays decision-making until inflation and home loan rates are lower. We have also witnessed supply difficulties, especially in luxury real estate.
That being said, there are incredible opportunities in this industry. Recently, the UAE government introduced the investment visa, which allows potential investors to purchase residential properties worth Dh1 million, and the visa obtained can also be used to sponsor other dependents. Recently enacted laws have opened the doors to the world, and Cityscape Dubai will provide the perfect platform for local and international investors to meet key developers.
What do you see as the key trends for 2023 and beyond?
The real estate landscape in the UAE is constantly evolving. Over the past year, we have seen a huge increase in demand for off-the-plan properties. There has also been a surge in growth and interest in leisure and entertainment spaces in the UAE. We expect these trends to pick up in 2023 and are excited to see how these trends affect and evolve the current real estate landscape. Commercial real estate space is also in greater demand, so 2023 could be a big year for the industry.
Will Cityscape Global have both physical and virtual elements?
Due to the reintroduction of live events to the market over the past 18 months or so, Cityscape Dubai 2022 will be a purely in-person event. Feedback from exhibitors and visitors was that it was important to be able to interact with developers or potential customers. In addition, potential homebuyers enjoy viewing off-the-plan properties up close and browsing at their leisure.
How do you see the impact of disruptive technologies such as artificial intelligence, blockchain, and 3D printing on the real estate industry?
Developments in artificial intelligence, blockchain, 3D printing, etc. do not see these technologies as disruptive threats, but as opportunities that the real estate industry is slowly capitalizing on.
Artificial intelligence opens the door for online brokers as it enables their clients to view and access upcoming projects from anywhere in the world. 3D printing has also transformed the architecture and design industries, allowing architects to be more creative and increase accuracy.
This always affects real estate in a positive way. Depending on how blockchain is implemented, it might be more of a mid-term threat, but ultimately we need to see how it plays out. We have to keep a close eye on its real impact on the real estate industry.
Does Cityscape care about sustainability in the real estate industry?
Sustainability has become a major focus for Cityscape in recent years, as you can see through our Cityscape Intelligence Talks. This year, we’ve added a dedicated section to discuss sustainability topics, such as technology’s critical role in meeting the global Sustainable Development Goals, and take a closer look at the biggest contributors to global emissions.
We will also bring in experts to examine how Dubai can accelerate the region’s progress towards net-zero emissions. Finally, we will also encourage visitors to make an Informa commitment against the city’s sustainability goals to outline how they can and will make a difference.
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