Industry stakeholders to test the market at Cityscape Global

DUBAI: Cityscape Global, the rebranded Cityscape Dubai, is expected to be a platform for industry stakeholders to network and get a feel of the global property market, reported Gulf News on Sunday, Oct 3.

Ronald Hinchey, a partner at Cluttons Middle East told Gulf News that many are expecting this year's Cityscape Global to be a networking event. In general, participants want to get a feel of where the market stands now compared to last year and where it is heading, added Hinchey.

This year’s event will take place on Oct 4 to 7 at the Dubai International Exhibition Centre.

Over 131 exhibitors have signed up for the real estate investment exhibition, with foreign players making up over 30% of the exhibitors.

According to Cecilia Reinaldo, managing director of international real estate broker Fine & Country, this year’s smaller participation reflects the difficult market in general and particularly in Dubai.

"There is no space to play around in this market anymore,” said Reinaldo.

Developers are also taking this opportunity to reassure investors that projects in Dubai are going full steam ahead despite delays, while special deals on existing stocks may be offered, she added.

Fine & Country will focus on real estate offerings in Cyprus and Brazil instead of Dubai, underscoring the global aspect of the exhibition, reported Gulf News.

Clutton’s Hinchey also expects the issue of building occupancy rates in Dubai to be brought into question.

alt"Some sought-after buildings have had a waiting list for the last 25 years and suddenly for the first time there are empty units, which kind of tells the story," he said, adding that the issue is about making Dubai more affordable.

With the best infrastructure and lifestyle in the region and softening rents, Hinchey believed that these factors should attract more people to live and work in Dubai.

The conference is also scaled down in size and focuses on real estate investment issues, global economy, hospitality and analysis of opportunities in the region.

Major developers in the region including Emaar, Nakheel, Rakeen Development, Dubai Silicon Oasis, and Dubai Properties Group, will be participating in the exhibition.

The annual Cityscape Global is one of the world’s largest international business-to-business real estate investment and development conferences, and features an exhibition that brings together regional and international companies from various fields related to property.

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