Cityscape Dubai, the UAE's leading real estate event kicking off in Dubai next week, will take on a new look as organizers change their strategy to accelerate major local, regional and global investments in the emirate's booming real estate market.
"The Cityscape Dubai 2022 experience has changed to better connect individual buyers, advisors and private real estate investors with leading developers and real estate agents," said Alex Heuff, Exhibition Director of Cityscape Dubai, in an exclusive interview with TradeArabia/Gulf Construction Online.
Cityscape will open at the Dubai World Trade Centre on November 21, connecting homebuyers with leading developers in a three-day event that offers visitors endless opportunities to invest in the region's booming real estate market.
The real estate landscape in the UAE has been evolving. Over the past year, there has been a strong demand for off-plan properties as well as leisure and recreational space throughout the UAE.
There is also a big demand for commercial real estate space, so 2023 could be a big year for the sector as well, Heuff said.
What changes can be expected?
The strategic shift is aimed at continuing to increase the number and value of real estate transactions in Dubai, because buying a home, especially your first home, is a big moment - and it's clear that more and more people are living that moment in the emirate.
This year's show takes a fresh approach, with practical support to help homebuyers make an informed decision, and expert financial and homebuying advisors on hand to provide expert advice.
As some of the region's leading property developers have already signed up, we will be showcasing the latest projects - both off-plan and ready to live in - which can be purchased on site.
In addition, a normally invitation-only event, this year's Cityscape Intelligence Talks will be open to the public and all visitors are encouraged to speak to key speakers from government organisations, leading property companies and industry analysts to find out more about the market before buying a property.
In addition to this, Cityscape will offer visitors a chance to relax and network over drinks as the event will feature a licensed bar for the first time ever.
What are the main areas of focus for the exhibition sessions?
This year, Cityscape Intelligence Talks will take place on the show floor, giving all visitors access to industry experts.
Talks will highlight sustainability and the region's efforts to achieve its net zero goals, share insights into market trends in the region, introduce CityscapeWIRE: Women in Real Estate, discuss the importance of women in the boardroom and how to strengthen women's relationships in the industry, and Dubai's Urban Master Plan 2040, discussing growth and regrowth strategies.
What are the current challenges and opportunities in the regional real estate market?
One of the biggest challenges we continue to face is inflation, as markets around the world remain at highly volatile levels.
Increased inflation has made home loans more expensive for potential homebuyers and decisions are being delayed until inflation and home loan rates are reduced. We are also witnessing difficulties on the supply side, particularly in the luxury real estate sector.
Despite this, there are still incredible opportunities in the sector.
Recently, the UAE government introduced the investment visa, which allows potential investors to purchase a residential property worth Dh1 million and thus obtain a visa, which can also be used to sponsor other dependents.
The recently enacted law has opened doors to the world and the Dubai Cityscape will provide the perfect platform for local and international investors to meet with major developers.
