ON SITE
SHOW REVIEW
Cityscape enjoys 25% growth for visitors on first two days Major developers confirm a host of real estate sales
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oosted by a y-o-y increase of 25% for visitors during its first two days, Cityscape Global was the catalyst for a 186% increase in registered Dubai Land Department transactions of off-plan units. Big-name developers also recorded positive sentiment from investors, driven by on-site sales. The show hosted hundreds of prominent local and international companies, offering an array of exclusive deals on projects within the UAE. According to Cityscape Global data partner Property Monitor – the UAE’s leading real estate intelligence platform, offered by Cavendish Maxwell – comparing the number of transactions for off-plan properties during the first day of Cityscape Global in 2016 and 2017, the figure tripled, jumping from 37 to 106. Lynnette Abad, partner and head of Property Monitor, says, “Looking back at the opening day for 2016’s edition compared to 2017, we can see a dramatic leap in the number of registered DLD transactions made for off-plan units. Permission to sell during the show has seemed to catalyse investors and buyers in the region, and has resulted in a noticeable increase of activity.” Abad adds, “One of the reasons why off-plan has been so successful this year is because developers have found that winning combination 44 OCTOBER 2017
of a very good final price point coupled with attractive payment plans.” Tom Rhodes, exhibition director for Cityscape Global, explains: “We’re seeing a new wave of investors, end users and home-owners attending this year, and with 25% more visitors than 2016, developers’ stands have been busy with activity. The atmosphere on the show floor has been great this year, and it’s encouraging to see investors eager to capitalise on attractive pricing by developers during the exhibition.” Offering deals on one- and two-bedroom units in its Dubai Silicon Oasis project, Binghatti Holding showcased the Binghatti Stars development during the three-day property show. Muhammed Binghatti, CEO and head of Architecture, said: “As a result of the offers we had during the show, we were getting clients who were walking in and closing deals in a matter of minutes, for a total of well over $2.7m in sales. On-site sales have definitely impacted visitors’ engagement.” As many as 40 new projects were also launched from developers such as Aldar Properties, Deyaar, Dubai Properties and Nakheel. Cityscape Global is co-located with the Building Healthcare, Innovation and Design Show, the regional business platform for build, construction, design and innovation of healthcare facilities. For more information about Cityscape, visit: www.cityscapeglobal.com.