26 Sep Cityscape Global 2016: What you Missed
Didn’t attend Cityscape this year?
Here’s what you missed witnessing at the Middle East’s largest and most influential real estate exhibition. Dazzling properties, expert discussions and some great deals on the property of your dreams!
Running for several years now, Cityscape Global 2016 saw some really exciting developer stands on display. Sobha, one of Dubai’s leading developers, showcased Sobha Hartland, is a master-development within Mohammad bin Rashid City comprising luxury villas, low-rise apartment buildings and amenities such as schools, retail outlets, tennis courts, spas, clubhouses, hotels and entertainment facilities all in one central location.
Dubai Properties Group, another ace developer, was also present to present Dubai Wharf, a mixed-use off plan project featuring residential towers and retail, dining and entertainment units. Valued at about 800 million dirhams, it will offer residents serene canal promenade living. Pedestrian bridges over the canal will offer full connectivity throughout Culture Village.
Then there was Ellington Properties Development LLC with Belgravia, an off-plan residential development in Jumeirah Village Circle. Minutes away from Downtown Dubai, Belgravia’s centerpiece is the beautifully landscaped central court. Residents will also have access to numerous facilities such as indoor and outdoor play areas, fitness and recreation centers and a lush outdoor pool. Diamond Developers showcased The Sustainable City, the first Net Zero Energy city in Dubai.
Robust appeal of the Dubai real estate market
According to the latest Dubai Land Department report, the property market saw investments from nearly 26,000 investors comprising 149 nationalities valued at AED 57 billion during the first half of this year.
Aside from UAE nationals, close to 16 Arab nationalities from outside the GCC made investments worth AED 7 billion. The diversity of the investor base reflects the wide range of property options, investor appeal and confidence in the sustainability of growth in the economy.
Experts predict a rebound of the Dubai property market in late 2017
This is expected to be driven by the government’s investments in tourism and retail infrastructure and diversification. Further, while rents and prices have dipped since 2014, the real estate market is stable, with little change in rents and sale prices this year.
Moreover, the much-anticipated Expo 2020 is expected to create new jobs, which will positively impact both sales and retail markets in the long term across the country and drive economic growth. Further, Dubai offers a world-class business environment for start-ups given its tax-free milieu and Free Zone benefits.
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