Cityscape Global Opens Tomorrow as Market Recovery and Proptech Boost Real Estate Industry

 

Dubai, UAE - 09, November 2021: The 21st edition of Cityscape Global, the Middle East’s leading real estate exhibition, opens its doors tomorrow at Dubai Exhibition Centre (DEC) on the Expo 2020 Dubai site, with top development enterprises including DAMAC Properties, Dubai South and Azizi Developments showcasing an array of new to market projects.

 

The UAE’s legacy real estate sector event opens amid a market-wide rebound over the past 12-18 months. According to the UAE Real Estate Market Report Q3 2021 by JLL MENA, Dubai’s residential stock increased to 629,000 units in Q3 2021, with 11,000 new units added over the three months period. An additional 23,000 units are expected to be delivered this year. In Abu Dhabi, approximately 2,900 residential units were completed in Q3 2021, bringing the total stock to 270,000 units, with a further 2,000 units expected before year-end.

Strong demand for villas and townhouses continues to drive the recovery, with tangible sale prices growth across both cities. Apartment prices have picked up in Dubai due to higher demand but they remain stagnant in Abu Dhabi. At a city level, residential sale prices in both Dubai and Abu Dhabi were up by around 4% year-on-year in Q3 2021.

 

Some of the UAE’s leading property developers, including Azizi, DAMAC, Arada, Dubai South and Land Sterling are all set to showcase their latest projects at Cityscape Global this week.

Azizi is haloing its Riviera Beachfront project, the developer’s French Mediterranean-inspired residential and commercial community. The project comprises residences with direct access to – and stunning views of – Azizi’s newly announced 2.7-kilometre-long crystal lagoon in MBR City, one of Dubai’s most sought-after neighbourhoods. Other Azizi projects on show include the Mina on Palm Jumeirah and Creek Views I and II, which will have scale models on the developer’s stand.

 

Farhad Azizi, CEO of Azizi Developments, said: “The UAE continues to demonstrate superlative real estate investment opportunities in-line with the country’s status as a major business, tourist, and innovation destination. Year after year, Cityscape grants visitors a remarkably comprehensive platform that attracts both local and international investors seeking an in-depth understanding of the UAE’s property landscape. The event is a key platform for important conversations addressing the resurgence of the market, facilitating knowledge transfer and ideation that stimulates demand, healthy competition, and innovation among all industry stakeholders, with investors reaping the benefits. 

 

“Cityscape Global is a key exhibition we are thrilled to be a part of; it is perfectly aligned with our pursuit of showcasing Dubai’s many marvels to the world, especially now, with it being on the Expo 2020 Dubai site.” 

 

Another key event partner showcasing new to market technologies is strategic partner Dubai Land Department (DLD), which will, through various organisations and sectors, present several smart and innovative projects, services and initiatives that seek to enhance Dubai's real estate sector in accordance with international best practices. 

 

According to DLD, the projects highlighted within its platform at Cityscape Global include numerous initiatives, including the smart valuation initiative, Dubai REST app services, and the brand-new Building Classification Survey project that will be launched on the event’s side-lines on 10 November.

“Cityscape Global 2021 offers our industry unparalleled B2B and B2C networking opportunities. As we ready to open our doors at Dubai Exhibition Centre in Expo 2020 Dubai, the event will connect the entire real estate universe to network, develop new partnerships, do business, and sell. Our 21st edition has lots to offer investors, home buyers, and industry professionals with plenty of content, exciting new projects and unbeatable offers specific to our event from some of the region’s leading developers,” said Chris Speller, Cityscape Group Director.

The live and in-person event will be held in adherence with Informa AllSecure, an enhanced health and safety standards that raise the bar on safe, hygienic, productive, and high-quality organised event experiences.