Investors from Britain, India, Iran, Pakistan, and Russia have been tipped as the top five with the most financial potential at Cityscape Global next month, as the final countdown begins for the Middle East’s leading real estate showpiece event.
Wouter Molman, exhibition director of Cityscape Global, which takes place from 8-10 October 2013 at the Dubai World Trade Centre, said that investor confidence has swelled to new heights in the lead-up to the three-day event, with strong interest in particular from the ‘big five’ foreign investors.[ Also Read: Dubai Attracted 5.5 Million Visitors in Half Year ]
“Based on the latest report by Dubai Land Department (DLD), Dubai attracted nearly US$15.9 billion in investments in 2012, making it a defining year for the real estate market,” said Molman.
“Investors from India, Iran, Pakistan, Russia and the UK accounted for 39 per cent of that figure, investing a combined US$6.2 billion in Dubai property.”
According to the DLD, Indian nationals invested US$2.4 billion in Dubai real estate in 2012, British – US$1.3 billion, Pakistanis – US$1.1 billion, Iranians – US$826 million, and Russians US$640 million.
The total amount of all foreign investment into the Dubai property sector in 2012 stood at US$9.8 billion.[ Also Read: DAMAC Brings Luxury Real Estate to Singapore ]
GCC national investors also returned to Dubai real estate in full force in 2012, injecting a combined US$4.8 billion into the market. Of that figure, 1,955 UAE nationals accounted for US$3.5 billion worth of investments (73 per cent of GCC national investment).
Added Molman: “With a GDP growth of 4.4 per cent in 2012, high consumer confidence, strong population growth and its safe haven reputation, Dubai has some very strong fundamentals supporting the re-emergence of the emirate’s real estate sector.
“At Cityscape Global last year, we had more than 25,000 participants from 93 countries. More than 70 per cent of the visitors attending specifically for investment opportunities voiced that they were looking to spend more than US$500,000, and there will be plenty of opportunities this year as we anticipate major new announcements during the show by participating developers.”[ Also Read: Paramount: Hollywood to Hospitality in Dubai ]
Organised by Informa Exhibitions, Cityscape Global is now in its 12th edition, featuring more than 200 international and regional exhibitors covering 25,000 sqm of exhibition space.
The global real estate showcase has been on an upward growth curve since 2010, and will be the largest it has been in four years.
All the major UAE-based developers will have major rolls to play this year, including Foundation Sponsors Emaar, Nakheel, and Dubai Properties Group, and Silver Sponsors Anantara Residences and Pacific Ventures.[ Also Read: Life’s Good with Virtual Home Away from Home ]
The three-day event also returns with Strategic Sponsor Barwa; Official Broker, TRISL Real Estate; Dubai Land Department as Supporter; Al Arabiya as Regional Broadcast Partner; and CNN as the International Broadcast Partner.
Cityscape Global will have eight country pavilions, led by the 1,500 sqm Turkish pavilion, featuring more than 30 companies including Ağaoğlu, Eroglu, Projebeyaz, Vadistanbul, and NEF.
The Middle East’s leading property show is co-located with three dedicated and expert-led conferences, the Global Real Estate Summit, Future Cities, and the MENA Mortgage and Affordable Housing Congress.
It will also feature the Cityscape Awards for Emerging Markets, taking place at the JW Marriot Marquis Hotel Dubai on 9 October.
Photo courtesy: Informa Exhibitions Middle East
Support RMN News Service for Independent Fearless Journalism
In today’s media world controlled by corporates and politicians, it is extremely difficult for independent editorial voices to survive. Raman Media Network (RMN) News Service has been maintaining editorial freedom and offering objective content for the past more than 12 years despite enormous pressures and extreme threats. In order to serve you fearlessly in this cut-throat world, RMN News Service urges you to support us financially with your donations. You may please click here and choose the amount that you want to donate. Thank You. Rakesh Raman, Editor, RMN News Service.