Mattar Al Tayer inspects the model of a project after the inauguration of the Cityscape Global 2021 in Dubai on Tuesday.
Sajjad Ahmad, Gulf Today
Mattar Al Tayer, Commissioner-General for Infrastructure, Urban Planning and Well-Being Track, and Chairman of the Supreme Committee for Urban Planning, inaugurated the exceptional 21st edition of Cityscape Global being held at the Dubai Exhibition Centre (Expo 2020 site) until 11 November in the presence of Sultan Butti Bin Mejren, Director General of Dubai Land Department (DLD), and a number of CEOs from DLD.
The global event provided investment opportunities for visitors in the two events, Cityscape and Expo 2020 Dubai, by major and sub-developers, including the diversity and suitability for different investors and those interested in the real estate sector and their needs, whether residents or international visitors alike.
Al Tayer toured the exhibition, visiting the pavilions of a number of government entities and local and international private entities participating in this global event. Al Tayer visited DLD’s stand and was briefed on the innovative services it provides, which directly contributed to enhancing the technical aspect of the real estate environment in Dubai.
During his tour of the exhibition, Al Tayer stopped at stands of a number of private and international entities, including Damac, Dubai Investments, Azizi, and The Avenue, reviewing services, investment opportunities and various experiences in the real estate markets.
More than 70 real estate developers, architecture companies, and leading consultancies in the world will present the latest developments in the various real estate markets, specifically the Middle East, with exceptional opportunities and services at Cityscape Global 2021. It is a unique and comprehensive platform that allows investors, developers and various stakeholders to meet in one place, exchange knowledge and experiences, and attract interested local and international investors looking for properties that meet their various needs. The event continues until 11 November at the Dubai Exhibition Centre (Expo 2020 site).
Azizi is haloing its Riviera Beachfront project, the developer’s French Mediterranean-inspired residential and commercial community. 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.
By mid-2022, Dubai-based Sobha Realty will launch a 200-acre development in MBR City next to Sobha Hartland. According to the developer, the ‘Hartland Sanctuary’ will cost over $4 billion to build. The developer is also showcasing ‘The S’ – a 240-metre high, 60-storey super-luxury mixed-use tower on Sheikh Zayed Road.
Abdulaziz Abdullah Al Zaabi, Chairman of Rak Properties, assured that the establishment of the Cityscape 2021 exhibition at Expo 2020 Dubai, puts the local real estate sector at the center of the world’s attention. In addition, it enables real estate developers to access the comprehensive group of investors and visitors participating in the largest exhibition hosted by the UAE to date.
He pointed out that Rak Properties is on the verge of a qualitative leap in its projects. It recorded an increase of 383% in net profits in the third quarter of this year.
RAK Properties is currently busy with construction on two five-star hotel projects, with the 351-room Intercontinental Mina Al Arab Hotel and Resort expected to start operating during the first quarter of 2022, followed by the opening of the Anantara Mina Al Arab Hotel and Resort in 2023. In addition, the developer will soon start the handover of residential projects in Hayat Island in RAK and Al Reem Island in Abu Dhabi, respectively.
Al Zaabi expressed confidence that the company will be one of the first real estate developers to benefit from the growing global interest in UAE real estate, especially in light of its tendency to launch distinctive projects aimed at enhancing tourism, in the hospitality sector.
Danube Properties showcasing it latest project Skyz at Cityscape Global 2021.The Dhs475 million project provides an ideal investment opportunity for investors.
The company expects greater investor interest in the new project, which will be the focus of its marketing and sales campaign at the Cityscape Global exhibition.
“The Skyz Tower is an ideal property for end-users and investors who want a 2nd home in Dubai as prices of properties have started to appreciate due to higher investor demand,” Rizwan Sajan, Founder and Chairman of Danube Group, said.
“Buyers of the properties can expect to benefit from 20 per cent premium if they sell the property after two years when we will hand over the building to the buyers. This translates to a straight 15 per cent annual profit – making it a very high return on investment.”
Residential property prices in Dubai increased 4.4 per cent on average in the first eight months of the year, registering the highest annual growth since February 2015, according to real estate consultancy CB Richard Ellis (CBRE). Average apartment prices increased 2.5 per cent and average villa prices increased 17.9 per cent, CBRE said in its third quarter market report recently.
“But those shy away from investing – might miss the boat. Think of those who bought properties last year when the prices and market sentiment was the lowest in the middle of the pandemic – and made a killing by selling them at 30-40 percent premium earlier this year – a solid return in just six months,” Rizwan said.
“I urge the investors not to miss the boat this time. It is a golden opportunity – as property price now are still 36 percent lower than the previous peak of 2014. So, prices are still low and attractive. You may not make the same profit if you buy later.”
#PunjabEase at Pakistan Pavilion: Thousands of visitors including Pakistani expats residing in UAE have attended a number of activities as part of the #PunjabEase campaign for the Pakistan Pavilion at the Expo 2020 Dubai, as the province goes global to attract investors and international business collaborators.
The inaugural week of Punjab’s show has already attracted a high number of visitors, with the pavilion seeing more than 35,000 visitors in the first 5 days alone. Visitors and potential investors had the opportunity to attend seminars, panel talks and project displays by 18 different departments and industries of Punjab. For the month of November, various departments of the Punjab Government are hosting a range of seminars and showcasing presentations, documentaries and exciting augmented reality immersion which will allow visitors to experience the colours of Punjab.
The first week has focused on housing, construction and urban development as Ravi Urban Development Authority (RUDA) and the Central Business District Development Authority (CBDDA) presented projects and investment opportunities for urban development, construction and the housing sector. The two departments presented a series of seminars on cross-disciplinary approaches to development, with seminars focused on eco-cities and tech-cities. Bank of Punjab also hosted a seminar at the Pakistan Pavilion focusing on their Roshan Digital Account and Ease of Access for expats.
Special seminars were also conducted to highlight Punjab Government’s efforts to increase the ease of business to connect the region to global markets and potential investors.
#PunjabEase led by PBIT at the Pakistan Pavilion in showcasing the history, natural beauty, multiculturalism, hospitality, contemporary entertainment and emerging modernity of the province via a series of seminars, concerts, art installations and performances.
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