April 25 2017
By Lookup.Ae Editorial Team
Cityscape Abu Dhabi 2017, being held at ADNEC (Abu Dhabi National Exhibition Centre) from April 18 to April 20, 2017, brought in thousands of real estate professionals, investors and buyers from Abu Dhabi and around the UAE. We saw developers showcasing their latest and upcoming projects, with some also offering promotions for the Cityscape exhibition. The first day also featured a conference which included speakers from the industry, as well as panel discussions.
Major Exhibitors & Projects
Cityscape Abu Dhabi had numerous exhibitors showcasing their product. Some of the major developers were:
Aldar Properties was one of the busiest booths at Cityscape Abu Dhabi. They launched their latest project in Reem Island, The Bridges. The Bridges is a development 1,272 apartments within six towers featuring studios, one, two, and three bedroom units. Aldar has only launched two towers at Cityscape Abu Dhabi. Prices started from approximately AED 450,000. Completion is expected in 2020. Sales commenced on the first day of Cityscape.
Imkan had one of the most unique booths at Cityscape, unveiling their latest project by offering visitors a visual experience. It announced its plans to develop Maker’s District on Reem Island, a residential, commercial, retail, and hospitality hub. The Artery was unveiled at Cityscape, which is expected to be the centerpiece of the Maker’s District.
Bloom had its various projects at display, showcasing both its Dubai and Abu Dhabi projects. These include Stella Maris, Soho Square, Bloom Heights, Bloom Marina, and its latest project Bloom Towers. Bloom Towers is a mid-market residential project in Jumeirah Village Circle, Dubai with prices starting at AED 343,000 and offering an 11% yield. Completion is scheduled for the last quarter of 2020.
Eagles Hills displayed their projects in various cities. These include Saraya Aqaba (Jordon), Fujeirah Beach, The Address Fujeirah Resort & Spa, as well projects in Jordon and Serbia.
TDIC (Tourism Development and Investment Company)
TDIC had one of the largest stands at the exhibition, showcasing projects in Mamsha, Jawahar, and Lagoons. There has be a lot of interest for their projects. TDIC launched Mamsha Al Saadiyat at Cityscape, a project offering one, two and three bedroom apartments, as well as lofts and townhouses, located along a beachfront in Saadiyat Cultural district.
Department of Municipal Affairs and Transportation
The Department of Municipal Affairs and Transportation displayed models of Mohammed Bin Zayed City Community Market, Shakhbout City Community Market, Bani Yas Community Market, Al Shamkha Community Market, and Souq Al Zaafarana Development Project.
Other developers participating include Aabar Properties, Azizi Developments, Danube Properties, Eshraq, Manazel, Kleindienst, Tamouh, Tiger, and Tilal amongst many others.
Cityscape Abu Dhabi also had some international developers and brokers exhibiting international developments such as Paddington Gardens by Elysian Real Estate and Battersea Power Station by Copperstones in London, as well as projects in Istanbul, Bosnia, Azerbaijan, Egypt, Morroco, and Serbia.
Day one of the exhibition featured a conference with speakers from within the industry offering their analysis. The conference started off with H.E. Khalifa Bin Salem Al Mansouri, Undersecretary at the Abu Dhabi Department of Economic Development, giving the welcome address. An overview of the Abu Dhabi market was provided by David Dudley, International Director & Head of Abu Dhabi Office JLL. Key points from his talk were:
- Abu Dhabi market lags the Dubai market, meaning the effects happening in Dubai are usually seen a year later in Abu Dhabi.
- Rental and sales demand has declined in the past two years due to job cuts and oil prices.
- Although there have been declines, these have still been above the troughs of the previous recession.
- The past two years (2016 – 2017) were consolidation years for Abu Dhabi, however, looking ahead, there will be renewed growth.
Following this, Omar Al Busaidy from the Tourism & Cultural Authority, Abu Dhabi gave a key note presentation on how Abu Dhabi is becoming a tourism hub and what initiatives are taking place to attract visitors from key markets.
Another speaker, Lara Al Barazi from YouGov, gave a presentation on Investors’ sentiment on Abu Dhabi. The findings of her research indicate that the investment outlook is positive and respondents have a more aggressive investment strategy. Overall real estate is still a proffered investment choice and overall sentiment is positive for the real estate markets in Dubai and Abu Dhabi.
Ann Boothello from Dubizzle gave a presentation about changing times and how to evaluate your business to find opportunities and grow.
The conference also featured two panel discussions: one discussing Abu Dhabi as an attractive destination for real estate investors, and the other discussing the free zones and how those are driving investment.
One major takeaway from the conference was the positive sentiment all speakers had towards future of the real estate markets in Dubai and Abu Dhabi and how it is headed towards recovery and improvement in the coming years.
Overall, Cityscape Abu Dhabi 2017 was a success in educating and connecting a wide range of real estate professionals and investors, as well as exhibiting many new interesting developments.
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Studios and One Bedroom Apartments starting AED 343,000 in Bloom Towers, JVC
Three tower residential project featuring studios and one bedroom apartments in Jumeirah Village Circle.