Cityscape Abu Dhabi rivals Dubai with deals worth $36bn

Explaining how this colossal sum was calculated, Mark Goodchild, Project Manager, Cityscape Abu, said, 'Many of the master developers made contact with institutional or private investors, which will require due diligence on both sides prior to closing any deals. We have estimated the amount of projected business both during and after the event that this represents.'

He added, 'Furthermore, we have also included the high levels of business activity between real estate developers for land sales and joint venture projects and the considerable amounts of business conducted by architects, consultants, engineers, contractors and other service providers.'

The three-day event, which was held at the Abu Dhabi National Exhibition Centre, on 13-15 May was extended by one extra day after the organizer, IIR Middle East, received a formal request from the Abu Dhabi Government. The show closed on Friday 16 after a surprise second visit by His Highness General Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the patron of Cityscape Abu Dhabi.

According to Goodchild, HH Sheikh Mohammed has taken a keen interest in the development of the show and praised the visionary projects on view, expressing his confidence in the future landscape of the UAE capital.

In no uncertain terms, the level of interest shown by the Abu Dhabi Government, clearly underlined the importance of the event as a showcase for the capital's intricate planning, sustainable projects and investment transparency.

Both the Abu Dhabi government and locally-based real estate heavyweights lent their full support for the industry showcase. Major local developers such as Mubadala, Sorouh Real Estate, ALDAR Properties and Al Qudra Real Estate all had a significant presence. Indeed the top ten projects in the capital, showcased at Cityscape Abu Dhabi were valued at $190bn alone.

'After Cityscape's stunning debut last year in the capital, we forecast that the expanded 2008 event would attract around 25,000 visitors. However it was evident during the first day, when queues started forming around the exhibition centre, that even our most optimistic projections would be shattered. With a grand total of 50,000 participants, that proved to be the case,'

commented Goodchild.

Two parallel conferences also ran alongside the exhibition, examining sustainable development and real estate finance and investment. Those themes were prevalent throughout, especially at the Cityscape Abu Dhabi awards dinner, which was held on 13 May at the sumptuous Emirates Palace.

The Urban Planning Council scooped two awards: In the Architecture section for Best Urban Design and Master Planning; and in the Future Retail category for its 2030 initiative. Also honoured were Aldar Properties for Best Islamic Real Estate Finance and Masdar for Best Developer - Sustainable Development for the incomparable Masdar City.

'The aim of the awards is to celebrate excellence in real estate investment and development by rewarding truly exceptional achievements and thereby raising the bar for the industry as a whole. The Cityscape Abu Dhabi Awards definitely achieved that objective and some,' stated Goodchild.

Dates for the eagerly awaited 2009 version of Cityscape Abu Dhabi, are yet to be confirmed, however IIR Middle East are looking to bring the showcase forward to take advantage of the cooler weather and to coincide with the opening of the new Abu Dhabi Marina.

The Cityscape portfolio of events now returns to Dubai with Retail City 2008, which will take place at the Dubai International Exhibition Centre from 1-3 June 2008. Retail City, which focuses on retail developments, will bring together global retailers, investors, shopping centre developers, franchise networks, shopping centre managements, architects and regional authorities to focus on all aspects of the retail development cycle.

Platinum sponsors of Cityscape Abu Dhabi include Mubadala, Aldar, Sorouh, Al Qudra, The Land Holding Company and Escan. Gold sponsors include Dubai World Central, Tameer and Saudi Oger, with Future Brand and East & West Properties taking silver status. The Department of Municipal Affairs of Abu Dhabi is associate sponsor, Urban Planning Council of Abu Dhabi is Strategic Planning Partner while HSBC is investment sponsor.