HH Sheikh Ahmad Bin Saeed Al Maktoum, head of Dubai’s Supreme Fiscal Committee and Chairman and chief executive of Emirates airline and group, opened Cityscape Global 2014 at the Dubai World Trade Centre on September 21, 2014 with a ribbon cutting ceremony. The 13th edition of the Middle East’s largest real estate event witnessed unveiling of billions of dirhams worth new projects
Since 2002, Cityscape Global has established itself as the region’s largest and most influential international real estate event and the ideal location to drive growth in real estate investment and development across emerging markets globally. It was held this year from 21 - 23 Sep 2014 at the Dubai World Trade Centre. The show is the biggest it has been in five years, with an anticipated 35,000 participants set to visit the exhibition featuring more than 280 exhibitors from 28 countries.
Organisers projected 35,000 people, a mixture of exhibitors and visitors, to attend this year’s show, compared to just over 32,000 a year ago. The three-day property and real estate exhibition has grown by over 25 per cent in exhibition space compared to last year, according to organisers, with the show covering two additional exhibition halls.
Featuring hundreds of exhibitors from more than 30 countries and over 25,000 participants from close to 100 countries, Cityscape also featured several dedicated conference programs including the Global Real Estate Summit, the Future Retail Conference and the MENA Housing Congress.
Wouter Molman, director of Cityscape Group, said: “The general outlook for Dubai’s real estate remains positive across all real estate sectors, supported by a strong economic outlook with a projected GDP growth of over five per cent annually until 2020, and Dubai visitor numbers growing steadily to an expected 20 million tourists by 2020.”
“This has been further highlighted in the build-up to this year’s highly anticipated Cityscape Global, which so far has proved to be one of the most successful editions yet,” Molman added.
Developers unveiled projects worth several billions of dirhams at the event. Emaar displayed the much anticipated showcase of The Opera District in Downtown Dubai. Nakheel launched The Palm Gateway, a three-tower waterfront living and leisure complex with more than 1,300 homes, a beach club, retail, dining and health and fitness facilities. Meydan unveiled two new projects — Mohammed Bin Rashid Al Maktoum City District 11 and Meydan Avenue.
Deyaar unveiled master plan of Dh3.5 billion new upscale development ‘Midtown’. Union Properties launched three projects worth Dh2.15 billion including Dh1.1 billion The Vertex. Dubai-based developer Omniyat also launched three projects worth Dh3.5 billion. Dubai Properties unveiled Dubai Wharf worth Dh800 million while Indigo disclosed the details of Dh1.5 billion Indigo Zen.
Dubai-based Meraas Holding revealed its La Mer project, a mixed-use development that will take shape in Dubai's beachfront district of Jumeirah. Spread across 9.5 million sq ft of existing and reclaimed land, it is set to start in the fourth quarter of this year, the company said in a statement.
Comprising four distinct zones - the beach, a leisure and entertainment hub, North Island, and South Island - La Mer will feature commercial, leisure, residential and hospitality components. On North Island and South Island, La Mer will include residential neighbourhoods totalling 688 apartments and villas as well as a 160-key hotel. It will also launch a range of retail and F&B concepts, some of which will mark their debut in Dubai.
Centrally located, the core value of the project will be a leisure and entertainment hub that focuses on water play, beach sports in addition to skate boarding, outside gymnasia and youth activities. It will also include two marinas for yachts, and a park. Existing beaches are to be redeveloped in order to offer improved high quality beach amenities to Dubai's resident community and visitors, the statement said.
The DAMAC Properties latest luxury master development55 million sq ft project, AKOYA Oxygen in Dubailand was the highlight of a high quality show which reaffirmed the global belief in the Dubai real estate market. DAMAC Properties also revealed that The Trump Organization will manage its 18-hole, championship-standard golf course in AKOYA Oxygen and that it has broken ground on a 1,250 key hotel in Business Bay, in collaboration with Paramount Hotels & Resorts - a project which will create the third largest hotel in Dubai.
The Paramount Hotel Dubai, Downtown’ will showcase timeless Hollywood elegance with contemporary styling and a polished integration of elements of Paramount Pictures movies through high tech media mapping and digital signage.
A third project has been announced by Dubai Properties, this time a luxury hotel on the Culture Village waterfront. Due to open in 2018, it will be operated by Anantara Hotel Resorts and Spa,
and will face Dubai Creek and have 270 rooms, a rooftop pool, promenade and marina.
Tourism Development and Investment Company (TDIC), the master developer of major tourism, cultural, and residential destinations in Abu Dhabi, revealed the first residential development in Saadiyat Cultural District.
The development, named Mamsha Al Saadiyat (meaning Saadiyat Walk), is a 1.4 kilometre beachfront mixed-use project, which will be showcased at Cityscape Global 2014. Comprising five clusters, each nearly 250 metres long, it will feature nine low-rise residential buildings including apartments and townhouses. All buildings will feature ground-level retail offerings and pool terraces.
TDIC also revealed that the final piece of the Louvre Abu Dhabi's mega-structure domed roof was put in place. The dome is 180-metres long (the length of two football pitches) and has a total weight of 12,000 tonnes. It is made up of a steel structure, weighing 7,000 tonnes (almost as much as the Eiffel Tower), and a further 5,000 tonnes of aluminium cladding.