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Confidence boosts Cityscape

Cityscape Global, the Middle East’s largest and most influential international real estate event, is expected to grow by 25 per cent this year, as international developers from the world’s emerging markets look to the region for potential investors.

Taking place from October 2 to 4 at the Dubai International Convention and Exhibition Centre, the three-day event was repositioned three years ago to boost its international appeal, and is now seeing the results, with more than 50 per cent of exhibition space set to be occupied by overseas exhibitors.

Among the major international developers from emerging markets this year include the Russian developer Northern Caucasus Resorts Company and Turkish developer Agaoglu, which will showcase some of its flagship residential and office projects in the most prominent suburbs of Istanbul.

“Agaoglu is one of the largest property developers in Turkey, with more than 50 per cent of our customers consisting of foreigners. The Middle East is particularly important for us, as lately most of our customers have come from the region,” Agaoglu international sales director Nevra Dilmen said.

“We look forward to revealing at the show our latest project consisting of 7,000 units, which upon completion will be the largest project ever developed in Turkey.”

Meanwhile, Qatar’s Barwa Real Estate, another headline exhibitor participating at Cityscape Global, is having a big year in 2012, as it delivers its portfolio of mega developments — Barwa Al Sadd, Barwa Commercial Avenue and Barwa City.

“Locally, we are establishing Barwa’s way of planning and delivering projects and we will replicate our excellence model to other global markets. Through our participation at Cityscape Global, we are demonstrating our unique development approach and creativity focusing on delivering world-class quality standards,” Barwa Real Estate group CEO Eng Abdulla Abdulaziz Al Subaie at said.

The repositioning of Cityscape Global to attract more international exhibitors from emerging markets is well-timed. According to “The World in 2050” report compiled by HSBC Global Research, by 2050, 19 of the 30 largest economies will be from the emerging world, fuelled by improved economic governance, human capital resources, and growing income per capita.

“Cityscape Global has seen a significant increase of international real estate companies and developers seeking a new breed of international investor that Cityscape Global attracts. The growth of the event is largely due to overseas participation from countries including Qatar, Bahrain, Lebanon, Egypt and further afield including Russia, Poland, the UK, Brazil, Chile, the US, India and Turkey,” Cityscape Global executive director Wouter Molman said.

business@khaleejtimes.com