The increase in interest in the three day property event is regarded as a sign of renewed investor confidence in Dubai’s real estate market, event organisers Informa Exhibitions said.
It is the Middle East’s largest real estate event and is set to grow by 50% for the second consecutive year when it takes place in October, with new exhibitors and existing ones expanding.
Several Dubai based developers will be exhibiting for the first time at Cityscape Global, further underlining the emirate’s property market revival, and many more major developers will be returning to the show after a hiatus following the global recession in 2008,’ said exhibition director Wouter Molman.
Several new projects by major developers also are expected to be launched at the exhibition in Dubai and Turkey will have the largest of eight international pavilions, with more than 20 developers including Agaoglu, Eroglu, Vadistanbul and NEF.
Qatar, which is undergoing a major construction boom as it strives to accommodate a rapidly growing population as well as new facilities for the 2022 World Cup, also will have a large representation.
Molman said in 2012 the event attracted more than 25,000 people from 93 countries, an increase of 25% compared to 2011.
‘The global showpiece continues its increasingly significant role as the barometer of the local and international real estate market, and we anticipate that exhibition space will increase by 50% this year for the second year running, while visitor numbers will match this growth,’ he added.
More than AED50 billion, $13.6 billion, worth of property transactions occurred in Dubai in 2012, according to the Dubai Land Department.
About 2200 units were added to Dubai’s residential stock inventory in the first quarter of 2013 and a further 42,000 are estimated to be delivered in the next two years, according to global real estate services firm Jones Lang LaSalle.
Cityscape Global is an annual event involving real estate investors, developers, investment promotion authorities, architects and designers. This year it will be held October 08 to 10 at the Dubai World Trade Centre.
