Cityscape Abu Dhabi prepares to open its doors for three days of property launches, offers, sales and networking
Abu Dhabi, UAE, 16 April, 2018: Confidence in the property market is on the up among industry experts as the UAE capital prepares to host thousands of local and global real estate developers and investors when Cityscape Abu Dhabi opens tomorrow.
According to CBRE’s latest Global Real Estate Market Outlook, capitalisation rates will be largely stable globally throughout the rest of 2018, as strong investor sentiment, capital availability and economic growth offset rising interest rates in some parts of the world.
Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the 12th edition of Cityscape Abu Dhabi will run Tuesday 17 April to Thursday 19 April 2018 at the Abu Dhabi National Exhibition Centre.
Developers from across the UAE and beyond will be out in force at the three-day investment and development event, where sales on the show floor will be permitted for the fourth consecutive year, and H.E Sultan Al Shakra, CEO at Sharjah Oasis Real Estate Development believes that 2018 will be a year of significant change for the Sharjah property market in particular.
He commented: “Off-plan sales revived market sentiment in Sharjah, while an abundance of supply opened the doors for many affordable opportunities and more options in the market. We have also sensed a real interest in waterfront projects with affordable luxury from different levels of investors and end users.”
Sharjah Oasis Estate Development is taking part in Cityscape Abu Dhabi to feature its flagship project, Ajmal Makan Sharjah Waterfront City, a series of residential, retail, and commercial properties interconnected by natural canals and spread across 36 km of coastal land on Sharjah’s northeast coast.
Another major draw for investors on the show floor is UAE developer Imkan, renowned for creating soulful places that enrich lives, which will showcase a number of projects in the Emirates and globally, including Makers District, an 18-hectare mixed-use waterfront development in Abu Dhabi’s Reem Island.
Walid El Hindi, CEO at Imkan, confirmed the company’s assurance in the real estate market both home and abroad, and said: “Our outlook for the local and global real estate markets is a positive one. Close to home we see great opportunities as a result of government infrastructure projects and preparations for Expo 2020.
“The market has been stabilising and investors, developers, and consumers are adapting to new realities. Our portfolio spans four continents and our outlook across the world, particularly in the regions where we have a presence such as Asia, Europe, Africa and North America, is optimistic.
“Cityscape is the leading real estate platform in the region and we are excited to once again take part in the prestigious and influential event in Abu Dhabi, which we see as an ideal opportunity to provide an update on our portfolio and build awareness around our upcoming projects,” he said.
Representing British real estate opportunities, Northacre, a leading developer of luxury schemes in London and a wholly owned subsidiary of the Abu Dhabi Financial Group (ADFG) has also expressed optimism towards the real estate market.
Niccolo Barattieri di San Pietro, CEO at Northacre said: “In general, real estate investment remains a reliable asset, especially in London. The British capital is known internationally and historically as a ‘safe haven’ even during periods of adverse and political unrest.
This is due to its enshrined property rights and undisputed desirability as the number one city for shopping, finance, education, entertainment, and connectivity. Driven mainly by international buyers, especially from the Middle East and Asia, demand for prime Central London property during 2017 increased as buyers were benefiting from the weak pound sterling. We expect this to continue throughout 2018.”
Cityscape Abu Dhabi returns with support from Platinum Sponsor Azizi Developments and Gold Sponsor ARADA. The Cityscape Abu Dhabi Conference, running on Tuesday 17 April is supported by Gold Sponsor Kohler and Silver Sponsor ADCP. For more information visit: www.cityscapeabudhabi.com.