Dubai on the road to recovery , Cityscape Global witnesses wave of investor optimism after bout of positive economic news boosts confidence in Dubai..

Dubai on the road to recovery

Cityscape Global witnesses wave of investor optimism after bout of positive economic news boosts confidence in Dubai and other emerging real estate markets

Cityscape Global 2010 opened for business today (4 October), amidst a wave of optimism from regional and international investors after a spell of positive economic indicators since the Dubai World debt restructuring was completed earlier in September.

The real estate investment and development show which has thrown the spotlight on global emerging markets, runs until Thursday at Dubai World Trade Centre.

“There has been a flurry of good business news throughout the emerging markets, that have boosted investor sentiment, but none more so than Dubai recently,” said Roham Marwaha, CEO, Cityscape.

“Although Dubai World’s successful $25 billion loan restructuring was undoubtedly the catalyst, there has been other encouraging news, especially the $1.25 billion dual-tranche bond issued by Dubai Government just last week. The bond was four times oversubscribed and will be used towards infrastructure projects. A number of other key announcements have been made since,” added Marwaha.

Marwaha was clearly referring to the Nakheel confirmation that it had paid almost $1 billion to creditors and further news that it would restart work on a number of its stalled projects. Dubai Islamic bank also announced that it had increased its stake in mortgage lender Tamweel to 57% and declared that it would resume lending before the end of the year.

“Even today the Real Estate Regulatory Agency, announced that it would work with banks to raise up to $1.36 billion to try and finish 48 developments currently on hold. Also the news that Emirates Islamic Bank could merge with Dubai Bank and bring Amlak under the same umbrella could further boost liquidity into the market,” said Marwaha.

According to US investment guru, Tom J Barrack Jr, a keynote speaker at the Cityscape Global Real Estate Investment conference, who has invested over $45 billion in real estate, claimed that smart money is now focusing on emerging markets as many have dramatically outperformed more mature markets such as the US and Europe in recent years.

“Many developed economies are already heavily indebted in addition to running annual budget deficits, compounding their debt levels. These scenarios won’t unwind overnight, it will take time. On the other hand, developing economies are not running deficits and are not nearly so indebted, allowing their economies to grow quicker, giving higher returns,” said Barrack.

The flagship event of the world’s largest business-to-business real estate investment and development brand is being held in Dubai for the ninth year and has evolved from Cityscape Dubai as a result of the increased international participation it has attracted.

Sentiment on the exhibition floor matched that of the organisers and speakers. Fernando Fischmann - Creator and owner of Crystal Lagoons Corp, which is developing the largest lagoon in the world in Egypt commented: "Irrespective of the Dubai government bond, I’m confident that Dubai and the wider region will come back. However it is worth pointing out that the global crisis is not a problem for everyone, if as a developer you can add value. That makes a good investment."
Another aspect specific to the region is that 80% of the world’s largest Sovereign Wealth Funds (SWF) are based within the GCC, so many developers from mature markets are looking for investors, both institutional and high net-worth.

French exhibitor, Philippe Chaix - Managing Director, Paris La Defense, a mixed-use redevelopment in the west of Paris, concurred with both Fischmann and indeed Barrack. "Today most of our international investors are European but the Middle East represents just 3% and we have come here in a bid to increase awareness of the project throughout the region, which has huge potential for us.”

For more information about Cityscape Global, please visit www.cityscapeglobal.com.

Photo caption: US investment guru, Tom J Barrack Jr, was a keynote speaker at the Cityscape Global Real Estate Investment conference, has invested over $45 billion in real estate.

About Cityscape

Cityscape, is the largest business-to-business real estate investment and development brand in the world, encompassing a series of major exhibitions and conferences that take place in Dubai and Abu Dhabi; Asia; Saudi Arabia; USA and Latin America; .

Cityscape Dubai 2009 opens tomorrow

Cityscape Dubai 2009 opens tomorrow

Most talked about real estate show a platform for industry challenges – comprehensive study of Dubai market to be published

Cityscape Dubai 2009 – the most talked about exhibition dedicated to the real estate industry, now in its eighth year, opens its doors tomorrow (Monday 5 October 2009.

“Now, perhaps more than ever, the eyes of the world are on Dubai and Cityscape with the event generating acres of media comment in advance of opening,” said Rohan Marwaha, Managing Director of Cityscape. “We now look forward to a continuing role in providing a transparent platform to encourage the adoption of measures to tackle the challenges facing the industry,” he added.

“As part of this process, we shall be publishing the Cityscape Intelligence ‘Focus on Dubai’ – the most comprehensive report of its type on the current state of the market which is being made available free of charge to visitors to Cityscape Dubai 2009.”

“With inputs from the Financial Times; project research company Proleads; real estate consultancy DTZ; the ratings agency Moody’s Middle East; and advocates Al Tamimi and Company, the report provides a unique resource upon which to advance debate on the challenges.”

The subjects covered in depth in the “Focus on Dubai” report include:

 An assessment of the state of the foreign direct investment market in the United Arab Emirates.

 An investigation into the nearly 2000 active real estate projects in the UAE, including a detailed market analysis.

 An analysis of the UAE banking system and the future growth potential of the property market.

 A review of recent legal and regulatory changes in property law and what can be done to make Dubai a more robust market.

“As part of the real estate story of the year, 2009 has seen Cityscape’s first decline in growth as the world adjusts to new economic conditions,” Marwaha added. “However, the high quality of Cityscape Dubai as the industry’s main networking event is well maintained. The major institutional investors, master developers, high net worth individuals and senior real estate professionals, which are the backbone of Cityscape, will be in attendance.

“Cityscape Dubai is still a very large show, by any standard.”

Cityscape Dubai consists of a four day exhibition featuring the most significant real estate investors, developers and service-led firms. Entry is free for professionals. In a reflection of the changed market conditions, this year the organisers say exhibition space is down about 30% on previous record years with total participant numbers forecast to be about 20% lower.

The Cityscape Dubai conference runs alongside the exhibition and focuses on global real estate investment and development issues with a panel of international speakers. In addition, the Cityscape Dubai Facilities and Asset Management Conference has attracted delegates in the design, build and post-occupancy of buildings.

The World Architecture Congress (5-7 October 2009), also part of Cityscape Dubai, has been put together in association with Continental Europe, Hong Kong, Japan and UK chapters and the International Committee of the American Institute of Architects.

There will also be a Cityscape Dubai Green Day on 7 October which will include green communities, construction methods, energy saving issues, financing green buildings, regulations, facilities management, whole life costs and new materials and products.

New initiatives have also been added to improve face-to-face networking, discussion and access to topical information. Senior executive level Investor Round Tables will be held each day. Cityscape Connect sessions take place on 6 and 7 October 2009 with subjects such as Dubai prices, market transparency and affordable housing.

There will also be a City Leaders Forum on 5 October 2009 and a CEO Business Lunch on 6 October 2009. There are also the Cityscape Awards, the prestigious architectural awards under the theme Design for an Emerging World at the Grand Hyatt Hotel on 6 October 2009.

Cityscape Dubai’s foundation sponsors this year are Dubai Properties Group, a member of Dubai Holding, and a pioneering community developer offering services in real estate, retail, and hospitality and lifestyle management; Emaar, the Dubai Financial Market listed global property developer and provider of premier lifestyles; and Nakheel, developer of the iconic Palm Jumeirah and The World. Tanmiyat, a Saudi Arabian investment company and real estate developer in the Middle East, is the platinum sponsor and the Aqaba Development Corporation from Jordan, a private sector company aimed at accelerating the development of the Aqaba Special Economic Zone, is the silver sponsor.

For full details of Cityscape Dubai 2009 and its events, please visit: www.cityscape.ae


About Cityscape
Cityscape, organised by IIR Middle East which is part of Informa plc, encompasses a series of exhibitions and conferences that take place in Dubai and Abu Dhabi; Asia; Saudi Arabia; USA; Latin America; and India.

Major developers show confidence in Cityscape

Major developers show confidence in Cityscape

Participation of key master developers underscores strategy to boost market confidence “.time to learn from the challenges…and to focus on the opportunities and threats that lie ahead,” says Cityscape


Master developers such as Emaar, Dubai Properties Group, Nakheel and Abu Dhabi’s Aldar are just some of the big brands participating in Cityscape Dubai, as a part of their collective strategies to augment investor confidence.

Meraas, a real estate investment company with operations and assets in the United Arab Emirates and abroad, continues to support Cityscape Dubai, which takes place from Monday 5 October to Thursday 8 October 2009. By using Cityscape as a platform, Meraas is also demonstrating its confidence in the real estate sector in Dubai.

“We have been emphasising for some time now that the objectives for many developers exhibiting at Cityscape Dubai is to reassure existing and potential investors,” said Rohan Marwaha, Managing Director, Cityscape.

“Clearly, no-one is expecting to see multi-billion dollar project launches or major finance deals being brokered. Instead they will be focusing on transparent progress reports on existing projects with realistic completion milestones and handover dates.

The announcement came as Cityscape organisers confirmed that, based on figures as of today (28 September 2009) this year’s exhibition floor space will only be approximately 30% smaller than in 2008. In addition the latest forecast predicts attendance figures will be down by 20%, a remarkable achievement given the exceptional market conditions which have left no region unaffected.

“The backbone of the Cityscape brand is its ability to reach local, regional and international investors,” said Marwaha. “Exhibitors and participants will continue to have access to private and institutional investors as well as other real estate professionals from around the world, which is critical if developers are to get their message across effectively to their target audience.

While the quantity of participants may have declined from previous peaks, the quality is being maintained with strong participation by major players in regional and international markets.”

Among other big names taking part are: Iskandar Region, Malaysia; La Defense, Paris; Meydan, Dubai; Mubadala, Abu Dhabi; the Tourism Development and Investment Company, Abu Dhabi; Bahrain Bay; Bloom Properties; Damac; Deyaar; Dubai World Central; Ithmaar; ADC, Aqaba, Jordan and Omniyat.

Cityscape Dubai’s foundation sponsors this year are Dubai Properties Group, a member of Dubai Holding, and a pioneering community developer offering services in real estate, retail, and hospitality and lifestyle management; Emaar, the Dubai Financial Market listed global property developer and provider of premier lifestyles; and Nakheel, developer of the iconic Palm Jumeirah and The World.

Tanmiyat, a Saudi Arabian investment company and real estate developer in the Middle East, is the platinum sponsor and the Aqaba Development Corporation from Jordan, a private sector company aimed at accelerating the development of the Aqaba Special Economic Zone, is the silver sponsor.

“We have undertaken a number of initiatives to attract industry professionals to this year’s show,” Marwaha added. “Face-to-face networking, lively discussions and access to unbiased current information will be provided at a series of Cityscape Dubai special events. Each will bring together real estate experts to discuss topical as well as some controversial issues.”

The special events include: Investor Round Tables, the latest addition offering an exclusive opportunity for leading figures in real estate to discuss key issues; a City Leaders Forum will provide a platform connecting major global destinations; a CEO networking lunch will provide an intimate and exclusive opportunity. There are also the Cityscape Awards, the prestigious architectural awards under the theme Design for an Emerging World.

“The objective of these and other initiatives is to support the industry by providing a realistic and transparent view of what is happening throughout regional real estate,” Marwaha said. “As we see it, now is the time to learn from the challenges of the past 12 months and to focus on the opportunities and threats that lie ahead.”

Photo-caption: Rohan Marwaha, Managing Director, Cityscape


About Cityscape
Cityscape, organised by IIR Middle East which is part of Informa plc, encompasses a series of exhibitions and conferences that take place in Dubai and Abu Dhabi; Asia; Saudi Arabia; USA; Latin America; and India. For more information on Cityscape Dubai please visit www.cityscape.ae