Mid East developers eye 'endless opportunities' in Asia

Cityscape Asia, which takes place from 15-17 April 2008 at Suntec, Singapore, is part of the global Cityscape portfolio, organised by IIR Middle East. The flagship event, Cityscape Dubai, shattered all previous records in October 2007 with 52,000 participants from 120 countries. Other events include India, China and South America.

Underscoring the strength of the regional property market, the inaugural Cityscape Asia in 2007 welcomed more than 4,500 participants from across the region and beyond, representing prominent investors, developers and industry experts in the fields of urban and environmental planning as well as architecture and design.

A prime example of growing investor sentiment towards Asia is provided by Platinum sponsor Limitless, a Dubai World company and a global real estate developer - one of a number of Middle East companies that will be participating at Cityscape Asia. Limitless has been taking Asia by storm of late with Singapore now the nerve centre for projects across the region.

Saeed Ahmed Saeed, CEO of Limitless, describes South East Asia in particular as "one of the most exciting and dynamic regions" providing "endless opportunities to demonstrate our core skills of master planning large-scale, balanced projects and waterfront development."

Asia is home to Limitless' first international project - Halong Star - a $220m mixed-use development in Halong Bay, Vietnam. More opportunities are being pursued in the region, with several expected to come online in 2008.

A further perspective is provided by Gold sponsor Aseana Properties, a company listed on the London Stock Exchange and focusing on property development opportunities in Malaysia and Vietnam, with approximately $250m of assets under management.

Late last year Aseana Properties announced its first acquisition in Vietnam with the purchase of 202,800 square metres of seafront development land. The estimated total development value of the project is $150m. The project will include a luxury hotel and resort-themed residences comprising a condominium tower and other facilities such as a conference centre and recreational clubs.

Cityscape Asia has also attracted new exhibitors from the Americas. The MGM Mirage CityCenter development on the Las Vegas strip in the United States will be putting on a big show. With a total cost expected to exceed $7.8bn, the MGM Mirage CityCenter is the largest privately financed development in the US. Dubai World paid $2.96 billion for 50% of the equity in the mixed use, residential, resort and retail complex.

"Singapore is a natural choice to host Cityscape Asia," said Graham Wood, Exhibition Director, Cityscape Asia. "Singapore gives access to a regional market of 2.8 billion people and with one of the highest per capita GDP it is the Lion of the Asian market," he added.

Cityscape Asia 2008 also hosts the International Property Investment and Development Conference with more than 50 outstanding speakers including CEOs, managing directors and government officials.