Cityscape: Towering success

The model-makers have worked overtime, the goodie-bags have been stuffed, and the vast stands are nearing completion for the biggest property showcase in the world.

Cityscape Dubai, arguably the most impressive four-days on the global real estate calendar, kicks off on Monday at Dubai International Exhibition Centre.

And despite a global downturn in property markets, organisers are predicting a record turn-out, with 60,000 participants set to throng the vast halls, and representatives filling the emirate's hotel rooms.

And while "uncertainty" may be a watchword in the West, "sustainability" is the phrase on the lips of many developers at Cityscape.

Among the companies attending Cityscape is Damac Properties, the region's largest private developer. Outlining the firm's confidence in the UAE market, Chief Executive Officer Peter Riddoch said: "It is worth pointing out the UAE real estate market is standing firm, when the markets elsewhere are witnessing the impact of global slowdown.

"This market is rapidly developing, when compared to markets in places such as the United States and the UK, with the UAE Central Bank revealing that mortgage lending in the UAE jumped 55 per cent in the first quarter of this year as compared to same period in 2007.

"Cityscape is an established event on the calendar of every international property developer and we

are delighted to be here again to showcase our projects," said Riddoch.

The event is such a draw that it has property giants eager to sponsor even the shuttle buses taking visitors around Dubai International Exhibition Centre.

Limitless, the global real estate arm of Dubai World, has won the honour and will have its branding in position to greet event-goers while in transit.

Limitless spokeswoman Rebecca Rees said: "From an environmental perspective, it shows our commitment to moving people not cars. We will be transporting participants from the main car park to the entrance, which in the Dubai heat is a tiring walk.

"Anyone who's anyone in the property world will be at Cityscape this year. As a global developer, we want to make sure we're ready to show the world what we're doing."

The shuttle bus contract is a part of Limitless' multi-million dirham advertising drive launched earlier this week. The firm said the 'Human Thread' campaign was to encourage eco-friendly alternatives to the car.

Rees said Limitless expected a healthy turnout at its stand, despite concerns about the impact of the current global financial turmoil. Last year it welcomed 5,000 people, and anticipates the number will jump substantially.

"The global downturn won't dramatically affect the pricing of our projects as they are all unique concepts, such as the Arabian Canal," she said.

"Because we're constructing cities that can take seven to 12 years to complete, rather than individual buildings, it means we can review the product mix at different stages accordingly.

"They've even extended it to four days, from three last year, which just goes to show the sort of demand and excitement surrounding the event this year," she said.

Shabnam Rawal, Group Director of Cityscape Conferences, said: "You only have to look out of any window to see the astronomical property growth that is transforming cityscapes.

"While much of the West appears to be heading for a slump, the property business in the Gulf, along with China and India, continues to grow. This is just one of the many intriguing areas that will be covered in the widest range of conferences yet at Cityscape."

On the international front, Iskandar Investment Berhad (IIB), the investment arm and developer within Iskandar Malaysia region, will be among the organisations attending Cityscape Dubai for the first time.

"As Islamic states, the Gulf Co-operation Council countries and Malaysia share similar investment values and principles, Cityscape Dubai is the most appropriate venue for IIB to make its presence known in the Gulf," said IIB Managing Director Arlida Ariff.

Three times the size of Singapore, Iskandar Malaysia in southern peninsular Malaysia, spans 2,217 sq km and is a mixed-use development planned for completion in 2025.

Now in its seventh year, Cityscape Dubai is the largest business-to-business real estate investment and development event in the world.

This year, the event even has former London mayor Ken Livingstone chairing a session called The World Architecture Congress.

Cityscape Dubai will kick off with the Real Estate Leadership Strategy Summit addressing trends and strategies in the global market place.

"With so many uncertainties in the world combined with a region that appears to be bucking the international trends, there is considerable excitement throughout the industry and all its sectors about this year's programme of Cityscape conferences," Rawal said.


The interest

Cityscape Dubai attracts regional and international investors, property developers, governmental and development authorities, architects, designers, consultants and professionals involved in all aspects of the property industry.

Cityscape Dubai 2007 set new records as 51,855 professionals from 136 countries attended it.

A total of 849 exhibitors showcased their projects and services on 74,240 sq m of exhibition space.

Cityscape Dubai 2008 is expected to substantially top that with more than 60,000 participants.

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