Cityscape abu dhabi prepares for sell-out
Following the extraordinary success of Cityscape Dubai 2006, the world’s largest international B2B real estate event, IIR Middle East the show organiser, has announced that 80 per cent of exhibition space has already been sold for Cityscape Abu Dhabi. Cityscape officials are now preparing for a complete
‘sell-out’, which debuts at the Abu Dhabi Exhibition Centre on 8–10 May 2007.
Mark Goodchild, Project Manager, Cityscape Abu Dhabi, commented, “With an estimated US$ 270 billion in construction projects either planned or underway, Abu Dhabi has the financial muscle to attract regional and international investors looking for access to some of the most ambitious projects in the world. Cityscape Abu Dhabi is essentially a debut event and to have confirmed 80 per cent of the total exhibition space already, underscores that sentiment.”
In all, Cityscape Abu Dhabi is expecting more than 200 exhibitors from over 50 different countries, covering a total of 25,000 square metres. In addition, two separate conferences are being arranged, one which will focus on waterfront developments and the other on real estate finance. Another highlight on the three-day programme is the Real Estate Finance & Investment Awards, which complements the hugely successful Cityscape Architectural Review Awards held last year in Dubai.
With its population of over one million inhabitants, Abu Dhabi is by far the wealthiest emirate in the UAE and in 2005 had the highest per capita income in the world at US$ 46,147. It has proven oil reserves which are estimated to last for another 150 years and currently pumps 3.5 million barrels of oil per day generating in excess of US$ 90 billion annually.
Ever mindful of the environmental impact of mass construction projects, real estate development in the capital has been carefully planned and is now rapidly gathering momentum. New property ownership laws were passed over a year ago and several spectacular projects have been launched, such as the Aldar Properties’ US$ 14.7 billion Al Raha Beach project and the new US$ 5.7 billion international airport project which is designed to handle twenty million passengers a year.
Reserving a total of 2,000 square metres, local industry heavyweights Al Qudra Real Estate, Reem Developers, Sorouh Real Estate, Tamouh Investments, TDIC and Aldar Properties, who between them have development projects worth over US$ 60 billion, have all demonstrated solid support for the show.
Ousama Ghannoum, Marketing & Communications Director, Aldar Properties said, “It is particularly pleasing for us to have such a renowned event here in the capital it will enable Abu Dhabi to showcase major projects to the entire region and beyond.”
For more information, please log on to http://www.cityscapeabudhabi.com.