Cityscape Jeddah 2010 exceeds attendance and transaction projections

Published June 10th, 2010 - 01:33 GMT

Exhibitors, guests and officials who attended Cityscape Jeddah 2010, the largest real estate investment and development event in the Kingdom of Saudi Arabia which concluded on Wednesday, June 9, 2010, left highly impressed with its professional organization, diversified projects, industry focus and strong participation. The latest edition of the property show exceeded the attendance and transaction targets of most of its exhibitors.

 

Cityscape Jeddah 2010, which was inaugurated by HRH Prince Misha’al bin Majed Abdulaziz, the Governor of Jeddah Province, showcased the projects and services of close to 100 local and regional property investors, developers and services providers in 10,000 sqm of prime exhibition space at the Jeddah Center for Forums and Events. Further, a content-driven conference featured over 40 CEO-level speakers discussing major industry issues and trends with participation from more than 200 senior-level delegates in 12 special panel sessions during the event. Major highlights included the annual Saudi Arabia Real Estate Investment and Development Conference and the 2ndCityscape Awards for Real Estate in Saudi Arabia. 

 

“The positive response of our exhibitors and visitors was overwhelming. Most of them confirmed that the event surpassed their expectations for this year and that they looked forward to coming back in 2011. We are building substantially with each edition and this is positively influencing the rapidly evolving Saudi real estate sector. There were a number of major deals closed during the course of the three-day event and this success provides good momentum for the upcoming Cityscape event in Riyadh this December,” said Deep Marwaha, Director of Cityscape Saudi Arabia.

 

As the show winded down yesterday, several exhibitors shared their thoughts on the success of the 2010 edition:

 

“There is no doubt that there are enormous opportunities available in the Saudi property market, given the strong response to Cityscape Jeddah this year. The implementation of the much-awaited mortgage law will have a positive impact on real estate and their values and will give a boost to more affordable housing, which is in high demand locally. There is a need, though, for the private and public sector to come up with new ideas and solutions to realize broader construction of affordable homes, and Cityscape Jeddah provided a platform for them to initiate discussions in this regard,” said Jurgen Jerre, Head of Hines MENA and a conference moderator.

 

“The number of attendees exceeded our expectations and they were more customer- and industry- centric. We surpassed our housing finance booking, reservation and application targets by 200 per cent. We will definitely come back for Cityscape Jeddah 2011,” said Saleh Al Humaid, Marketing and Communications Manager, Amlak International.

 

“There was so much variety in terms of developments and attendees, it was very apparent that the Saudi property market is booming. The show was organized very professionally and hopefully we will observe the same thing in Cityscape Riyadh 2010 which we will also be exhibiting in at the end of the year. We will be making several project announcements by that time to capitalize on the excellent exposure provided by Cityscape Jeddah,” said Eng. Mohammed Al Ghamdi, Development Business Manager, Dar Al Riyadh.

 

“We were able to achieve 50 per cent booking and sales applications for our The Rabwa in Makkah and Dorat Al Sharayi projects via Cityscape Jeddah. We benefitted from the targeted audience the event brought in,” said Eng. Abdulhadi Mohammed Al Rasheedi, General Manager of Aqarat Real Estate Development, a part of the Al  Esayi Group.

 

“This marks our second year of participation in Cityscape Jeddah. Among the major changes we observed were a greater focus on industry and the presence of more serious visitors. There was a 30 to 40 per cent increase in customer-centric investors, bankers and real estate specialists. Many major deals were closed, such as Sumou’s agreement with DWP for a 1 million sqm project in Al Khobar,” said Saeed Al Nahdi, VP - Support Services, Sumou Real Estate and Development Company. 

 

Meanwhile, Sumou Real Estate and Development Company has signed up to be the Principal Sponsor for Cityscape Jeddah for the third consecutive year in 2011, while Emaar Middle East has committed to being the Principal Sponsor for the Riyadh leg of Cityscape in December of 2010.

 

Cityscape Jeddah is part of a series of real estate –specific events organized around the world under the Cityscape brand. The next Saudi-based event, Cityscape Riyadh is expected to replicate the success of the Jeddah edition. Taking place from December 12 to 14, 2010 at the Four Seasons Hotel in Riyadh, Cityscape Riyadh will gather over 6,000 participants and more than 50 exhibitors and cover 5,000 sqm of exhibition area. It will feature the Cityscape Riyadh Real Estate Investment and Development Conference, Investor Round Tables, and the Cityscape Riyadh Leaders in Real Estate Gala Dinner.


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