- Smart technologies and developments contribute to enhancing investor confidence in Dubai’s real estate market
- Total number of real estate transactions increased by 86% after Cityscape
Dubai, United Arab Emirates, 27th October 2018: Dubai Land Department (DLD), organised a real estate developer meeting in cooperation with Cityscape Global in order to identify the results achieved at Cityscape. The meeting aimed to monitor the trends and needs of the real estate market, and innovative solutions that can be presented at upcoming editions for the benefit of all parties, including developers and investors.
HE Sultan Butti bin Mejren, Director General of DLD, said: “We are proud of the strategic partnership we have associated with Cityscape Global 2018 over the past few years that helped us achieve many of our corporate goals. Our platform was a destination for VIPs and a large number of visitors who expressed keen interest in finding out about our latest technology, especially the Dubai REST smart platform. DLD provides services through the real estate promotion and investment management sector to enhance the relation between the Government of Dubai, represented by DLD, and the private sector that includes developers, registration trustees, and Cityscape whom we thank for the success of the event. This cooperation — taking place for the first time after Cityscape Global — assess the desired results of the participation and takes into account the next edition of Cityscape Global.”
Bin Mejren added: “At DLD, our goal is to be the first real estate market in the world to offer optimal options for any investor in Dubai’s market. Today, we are trying our best to present innovative ideas that will ensure people’s satisfaction and enhance their confidence, made possible due to the strong relations with our partners and to our smart services that confirm the level of transparency in providing the necessary information around the clock.”
The exhibition coincided with Dubai’s rise over the past two years, topping the list of the world's most attractive cities for real estate investors, and occupying advanced positions within the rankings of the various international consulting companies specialised in real estate investment. The number of off-plan real estate transactions after Cityscape increased by 39% with a 425% increase in value, and the total number of transactions increased by 86% with a 41% increase in value.
HE Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, thanked the participants for their contribution to the success of Cityscape Global and added: “Our meeting today is the result of the successful relation with Cityscape Global organisers that resulted in attracting local and international real estate developers participating in this event.
Rashid added: “Cityscape Global has become the premier real estate regional event. In its latest edition, the important role of developers has emerged to emphasise the strength of the investment field in the UAE, and its ability to continuously innovate and attract increasing numbers of investors. Cityscape Global has a positive impact on driving investment trends.”
The investors' confidence in the country’s real estate market was consolidated by foreign investor interest and new entrepreneurial innovations. The event, which took place at the Dubai World Trade Centre from 2nd – 4th October, saw 248 local and international exhibitors reveal the latest investment opportunities to visitors over 37,800 square metres (sq. m) of exhibition space.
Rashid added: “DLD once again demonstrated its ability to benefit from such events that contribute to highlighting our efforts in supporting the real estate sector by introducing advanced services that attract international investors, strengthening Dubai’s position as a leading and trustworthy destination that will ensure investor happiness and help them in conducting their transactions quickly and easily.”
DLD, developers, and Cityscape Global will foster greater industry collaboration to work towards the advancement of the real estate industry in the Emirate and to propel Dubai as a prime investment hub by highlighting the scope of real estate investment opportunities through the region’s largest property platform: Cityscape Global.
A number of top developers and real estate stakeholders attended, including Meraas, MAG Lifestyle Development, Meydan, DAMAC Properties, Dubai South, Dubai Sports City, Gemini Developers, Azizi Developments, Danube Properties, Binghatti Developers, Falconcity, Jumeirah Golf Estates, Tamleek, and Kleindienst Group.
Chris Speller, Cityscape Group Director, commented: “Adaptability has been hardwired into our DNA. Just like the UAE, we have evolved and learned to look ahead and find innovative solutions for a cross-section of investors and developers to map the course of investment, which is one of our core values.”
The latest figures reveal that over 34,000 visitors and over 40,000 participants attended the three-day exhibition, while close to 1,000 delegates and speakers attended the Cityscape Global Conference, held a day before the exhibition at the InterContinental Dubai Festival City.