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Cityscape officials are now preparing for a complete
'sell-out', which debuts at the Abu Dhabi Exhibition
Centre on 8-10 May 2007.
Mark Goodchild, Project Manager, Cityscape Abu Dhabi,
commented, 'With an estimated US$ 270 billion in
construction projects either planned or underway, Abu
Dhabi has the financial muscle to attract regional and
international investors looking for access to some of
the most ambitious projects in the world. Cityscape Abu
Dhabi is essentially a debut event and to have confirmed
80 per cent of the total exhibition space already,
underscores that sentiment.'
In all, Cityscape Abu Dhabi is expecting more than 200
exhibitors from over 50 different countries, covering a
total of 25,000 square metres. In addition, two separate
conferences are being arranged, one which will focus on
waterfront developments and the other on real estate
finance. Another highlight on the three-day programme is
the Real Estate Finance & Investment Awards, which
complements the hugely successful Cityscape
Architectural Review Awards held last year in Dubai.
With
its population of over one million inhabitants, Abu
Dhabi is by far the wealthiest emirate in the UAE and in
2005 had the highest per capita income in the world at
US$ 46,147. It has proven oil reserves which are
estimated to last for another 150 years and currently
pumps 3.5 million barrels of oil per day generating in
excess of US$ 90 billion annually. Ever mindful of the environmental impact of mass construction projects, real estate development in the capital has been carefully planned and is now rapidly gathering momentum. New property ownership laws were passed over a year ago and several spectacular projects have been launched, such as the Aldar Properties' US$ 14.7 billion Al Raha Beach project and the new US$ 5.7 billion international airport project which is designed to handle twenty million passengers a year.
Reserving a total of 2,000 square metres, local industry heavyweights Al Qudra Real Estate, Reem Developers, Sorouh Real Estate, Tamouh Investments, TDIC and Aldar Properties, who between them have development projects worth over US$ 60 billion, have all demonstrated solid support for the show.
Ousama Ghannoum, Marketing & Communications Director, Aldar Properties said, 'It is particularly pleasing for us to have such a renowned event here in the capital it will enable Abu Dhabi to showcase major projects to the entire region and beyond.'