The UAE capital will host several local and global real estate developers and investors when Cityscape Abu Dhabi opens on Tuesday. The 12th edition of Cityscape Abu Dhabi will run until Thursday at the Abu Dhabi National Exhibition Centre.
Developers from across the UAE and beyond will be out in force at the 3-day event, where sales on the show floor will be permitted for the fourth consecutive year.
Several major new developments are expected to be launched, while other developers will showcase new launches released in the run-up to Cityscape Abu Dhabi, including Aldar's launch of Al Ghadeer Phase 2. Exhibitors at Cityscape Abu Dhabi will be offering various incentives and discounts, specifically over the duration of the event.
We expect these deals to offer buyers added benefits similar to those offered during Dubai Property Festival - although this can only be assessed once the deals are unveiled at the start of the exhibition. Property sales on site will be allowed as they have been since 2015, David Godchaux, Group CEO of Cushman & Wakefield Core, told Khaleej Times.
Matthew Green, head of research and consulting, CBRE, said: With the huge level of competition, particularly in Dubai, we can expect to see an increase in incentives and offers to encourage higher levels of off-plan sales. This follows similar strategies during the recent Dubai Property Festival which took place in April, which saw Emaar waive registration fees for selected developments during the event.
There is likely to be little on offer for end-users as most of the offerings at the exhibition will be off-plan and heavily on the investment side. "Some exceptions might be the new phase of Bloom Gardens [not yet confirmed to be launched, but it is in the pipeline]. The next phase of Al Ghadeer by Aldar is for the most part an investment product but there will be 2 and 3-bedroom townhouses and 4-bed villas for sale, which will be handed over in 2021," explained Ben Crompton, managing partner, Crompton Partners Estate Agents.
MAG Lifestyle Development (MAG LD), the property development arm of the MAG Group, will participate at Cityscape Abu Dhabi. MAG LD will launch sales at its MAG Creek Wellbeing Resort, MAG EYE, MAG 318, MAG 5 and MBL Residence projects, offering customers attractive payment plans and exemption from the 4 per cent Dubai Land Department fee.
Talal Moafaq Al Gaddah, CEO of MAG LD, commented: Cityscape Abu Dhabi is a priority for us because it is the UAE capital's largest and most prestigious real estate investment and development event.
Other big developers participating include Aldar, Arada, Azizi, Bin Ghatti, Danube Properties, Tamouh, Tilal Properties and Kleindienst.
Sharjah Oasis Estate Development will showcase its flagship project, Ajmal Makan Sharjah Waterfront City. Another major draw for investors at the show is UAE developer Imkan, which will showcase a number of projects in the UAE and globally, including Makers District, an 18-hectare mixed-use development on Reem Island.
Walid El Hindi, CEO at Imkan, said: Our outlook for the local and global real estate markets is a positive one. Close to home, we see great opportunities as a result of government infrastructure projects and preparations for Expo 2020. The market has been stabilising and investors, developers and consumers are adapting to new realities.