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On-site sales back at Cityscape Global

dubai - Developers will be allowed to sell their UAE-based projects on the exhibition floor

The Dubai Land Department (DLD) has confirmed that real estate developers taking part at Cityscape Global 2018 will be allowed to sell their UAE-based projects on the exhibition floor.

The decision was made after Dh870 million worth of on-site transactions were recorded during the 3 days of Cityscape Global last year.

In a post-show report compiled by Informa, organisers of Cityscape Global, some 67 per cent of the 37,821 visitors who attended the event expressed an interest in making a purchase or doing business with an organisation they met at the exhibition over the course of the next 12 months.

Tom Rhodes, exhibition director at Cityscape Global, said: "Permitting on-site transactions was a significant milestone in the history of Cityscape Global and it allowed us to enhance the experience of all participants, whether they are property developers, home buyers, investors or agents."

Many exhibitors reported a successful 2017 at Cityscape Global: Azizi Developments sold out their phase 1 units for the Dh12 billion waterfront project, Azizi Riviera; an anonymous buyer of one of Omniyat's One Palm units broke the record for the most expensive penthouse, with a final price of Dh102 million; and Aldar's 'Water's Edge' project generated $109 million (Dh400 million) in sales of the first phase.

The show witnessed a host of new project launches and masterplan unveilings from major developers such as Nakheel's Dh4 billion worth of developments; Union Properties' Dh8 billion masterplan for MotorCity; and Deyaar's Dh1 billion South Bay in Business Bay.

Regional developers are now preparing to participate in Cityscape Abu Dhabi, taking place from April 17 to 19 at the Abu Dhabi National Exhibition Centre. On-site transactions will be permitted in Abu Dhabi for the fourth consecutive edition.

World Congress comes to Dubai
The DLD has announced that it will host the 69th 'FIABCI World Congress' in Dubai over 6 days from April 27 to May 2. The '69th FIABCI World Congress' is expected to attract over 1,500 real estate professionals from around 70 countries to exchange views and explore the event's 'Happy Cities' theme.

Sultan Butti bin Mejren, director-general of DLD, said: "Dubai has successfully won the bid to host FIABCI in the Mena region for the first time. Hosting this event is a new milestone for Dubai and will serve to enhance our city's global reputation further. Dubai won the bid thanks to the combined efforts of a number of government entities, with support from the Department of Tourism and Commerce Marketing, Emirates airline and other local partners."

The International Real Estate Federation is the organiser of the 69th FIABCI World Congress.

Farook Mahmood, world president of FIABCI and CMD Silverline Group, said: "The convention will attract many investors and industry stakeholders from around the world."

The 69th International Real Estate Congress 2018 will be hosted in partnership between the International Real Estate Federation, the Dubai Real Estate Institute - the DLD's educational arm - and Dubai Business Events, the Dubai Department of Tourism and Commerce Marketing's office for organising conferences.

- deepthi@khaleejtimes.com