Boosted by a year on year rise of 25% for site visitors throughout its first two days, Cityscape Global has been the driver for a 186% rise in registered Dubai Land Department deals of off-plan units, while heavyweight developers have taped extremely positive sentiment from investors driven by onsite sales.
The region's biggest real estate and investment show, which ends today (Wednesday 13 September) at the Dubai World Trade Centre, hosted numerous famous local and international companies providing an array an exclusive offers on projects within the UAE.
According to Cityscape Global information partner, Home Monitor, the UAE's leading property knowledge platform, used by Cavendish Maxwell a building and construction consultancy, when contrasting the number of transactions for off-plan properties throughout the very first day of Cityscape Global in 2016 and 2017, the figure has expanded to almost three times the size, jumping from 37 to 106.
Lynnette Abad, Partner and Head of Property Monitor said "Looking back at the opening day for 2016's version compared with 2017's we can see a dramatic jump in the number of registered DLD transactions created off-plan units. Approval to offer throughout the program has appeared to catalyse investor and buyers in the region, and has led to an obvious increase of activity.
“One of the reasons why off-plan has actually been so effective this year is since programmers have actually discovered that winning combination of an excellent last price factor combined with attractive payment plan. This has actually enticed investors back right into the market and opened up a chance for end-users who could not pay for to get on the property ladder before."
Tom Rhodes, Exhibition Director for Cityscape Global said "We're seeing a new age of capitalists, end-users and home-owners attending this year, and with 25% more site visitors than 2016's edition, developers' stands have actually been busy with activity.
" The atmosphere on the program floor has actually been great this year, and it's urging to see capitalists excited to capitalise on attractive pricing by programmers during the exhibition.”
Offering deals on one and two bedroom devices in their AED250 million Dubai Silicon Oasis project, local company Binghatti Holding showcased the Binghatti Stars growth during the three-day property show.
Muhammed Binghatti, CEO and Architecture of Binghatti Holding said: "As a result of the offers we had throughout the program, we were obtaining clients who were walking in and closing deals in a matter of mins, for a total more than AED10 million in sales. Onsite sales have definitely impacted visitors' engagement."
Recording a boom in sales for deals on the 2nd stages for their Bloom Towers and Bloom Levels projects, noticeable UAE programmer Bloom Properties, notes Cityscape Global as an essential day in their annual schedule.
Sameh Muhtadi, CEO for Flower Properties said: "For us, it's a great occasion since we actually do even more work and sales here compared to any other venue. I would certainly state regarding 60% of our purchases are a direct result of Cityscape."
In addition to transactions onsite, approximately 40 new project launches were revealed throughout the show from developers such as Aldar Properties, Deyaar, Dubai Properties, Jumeirah Golf Estates, Nakheel and Meydan.
Cityscape Global 2017 returned with assistance from Foundation Allies: DDubai Properties, Nakheel PJSC; Platinum Sponsors: Al Marjan Island, Binghatti Developers, Union Properties PJSC; Gold Sponsor: Tamleek Real Estate Registration Trustee; and Silver Sponsor: Maryapi Real Estate Development; Project Marketing Sponsor: Aqua Properties and Strategic Partner: Dubai Land Department.
Cityscape Global is co-located with Building Healthcare, Innovation and Design Program, the regional business platform for construct, construction, design and innovation of healthcare centers. For more information about Cityscape Global go to: www.cityscapeglobal.com.
Caption: Cityscape Global registers 25% increase in site visitors for very first two days.