Developers at Cityscape Abu Dhabi showcase latest projects as UAE economy displays healthy signs of recovery
In light of the UAE’s preparations for the Expo 2020, the country is expected invest US$40,554 million in supporting infrastructure as developers in Abu Dhabi and the other emirates aim to capitalise on increasing tourist and visitor numbers over the next three years.
Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the 11th edition of Cityscape Abu Dhabi will open its doors at 10am tomorrow morning (Tuesday 18 April) at the Abu Dhabi National Exhibition Centre and run until 20 April.
Carlo Schembri, Exhibition Manager for Cityscape Abu Dhabi said: “The positive sentiment within the market coupled with the expected government spending into new non-oil projects will help drive recovery and prevent an oversupply in the market.”
According to a report published by FocusEconomics, partner of the show and a leading provider of economic analysis and forecasts for countries in Africa, Asia, Europe and the Americas, the UAE is predicted to record a 2.5% growth in GDP this year and a further 3.2% in 2018.
Added Schembri: “We are expecting this year’s edition of Cityscape Abu Dhabi to be the largest in terms of announcement projects and exhibitor participation since 2011. With over 100 confirmed exhibitors and the increased development of free zones, opening up diverse opportunities for investors, Abu Dhabi is making positive steps towards its Vision 2030.”
In addition to the host of returning exhibitors, the free to attend Cityscape Talks will also make their debut at the show off the back of its success at Cityscape Global last year, and will offer live content direct from the show floor opening up discussions on key themes within the industry.
The Talks will provide a unique platform for the audiences of Cityscape Abu Dhabi to engage and discuss a wide range of topics, which include residential market activity, investment hotspots, real estate finance as well as industry outlooks and trends.
Top representatives from some of Abu Dhabi’s influential companies such as Frank Wiesse, Director, Drees & Sommer ME; Ahmed Hamam, Lead Product, Collections & Liquidity Management, ADCB; and John Hanafin, CEO, Arton Capital will take the stage for discussions on improving efficiency in construction projects, regulations on escrow accounts and empowering global citizenship and residency, respectively.
In accordance with the rules and regulations administered by the Abu Dhabi Municipality, sales will be permitted directly from exhibitor stands as thousands of individual investors and real estate professionals will discover the latest developments within the capital’s property market.
A number of diverse exhibitor projects will be showcased including Abu Dhabi’s Marina Mall extension, The Wave Tower and luxury villa complex Marina Sunset Bay as well as future Saadiyat Island, Abu Dhabi projects.