Abu Dhabi companies prepare for Cityscape Dubai

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Abu Dhabi real estate giants such as Aldar, Sorouh, Al Qudra and Masdar among others will all be showcasing their latest projects.

The Cityscape Dubai event is the second to be held in the UAE in 2008.

Cityscape Abu Dhabi was held in May and saw attendance from 48, 354 industry professionals from 107 countries. Projects from the $190bn budgeted for civil construction developments in the UAE capital were showcased.

Among the major works unveiled were the masterplan for Sorouh's Lulu Island, the 1,400 acre development offshore from the Corniche area. Ghantoot City, planned near the Abu Dhabi/Dubai border, and which will feature the emirate's first 'six-star' hotel, was also announced, as was the Blue Dolphin Centre in the Al Raha Beach development, one of the first freehold retail centres in the city.

The latest UAE Cityscape exhibition will present Abu Dhabi's developers with a prime opportunity to showcase ongoing projects to potential investors as well as unveiling new developments, and comes at a time when industry analysts are watching to see if the repercussions of the global economic slowdown have any repercussions on local markets.

'Despite the global credit crunch and the dramatic downturn in certain real estate markets such as the US, UK and Spain, the underlying strength and positive sentiment of the wider regional market is undisputed,' says Rohan Marwaha, Cityscape's MD.

Showing similar confidence in the UAE property market, Aldar Properties has signed on as a platinum sponsor while Al Qudra has signed a deal to be a silver sponsor at the event.

Sales targets,

Abu Dhabi companies will also be in evidence aiming to attract potential business. Sales and leasing company Aswaq Management & Services (AMS) has set itself sales targets of Dhs1bn for Cityscape. AMS will be displaying projects including Carina Views, Najmat Abu Dhabi and will be launching Phase II of the Dhs3bn Bawabat Al Sharq on Bani Yas.

'The highlight of Cityscape Abu Dhabi was the launch of Bawabat Al Sharq, we sold 75% of phase 1 in just four days and we are looking to repeat this success with the launching of phase II of the project at Cityscape Dubai,' says AMS Chairman Nasser Mohammed Al Nowais.

Sales for the 640 apartments in the Central Park residential towers in the Shams project on Reem Island will also be launched at Cityscape.

UK estate agent Humberts will use the Cityscape event to unveil its first Middle East office, to be located in the UAE capital.

Non-UAE developers showcase Abu Dhabi projects

Also on Reem Island, Saudi-based Rakaa Properties will be revealing the winner of the tender bids for the development of their Dynasty and Falcon Crest towers, valued at Dhs1.5bn.

Kuwaiti company Dar Al Dhabi Real Estate will also be presenting to the public the models for the recently announced The Wings development, which forms part of the centrepiece of the group's Dhs6bn Dar Al Dhabi project on Reem Island's Najmat marina.

Manazel Real Estate will have a presence at the event to appraise investors on the progress being made at their Al Reef Villas development.

See also:
Special Report: Buying property in Abu Dhabi
Abu Dhabi property price increases 'certain'