THIS IS WHERE IT HAPPENS As the Barometer of the Real Estate Industry, the Next Four Days at Cityscape Will Make Or Break Expert Predictions
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www.cityscape-magazine.com The official show daily OCT 6 – DAY ONE $ OCT 7 – DAY TWO $ OCT 8 – DAY THREE $ OCT 9 – DAY FOUR 2008 55 THIS IS WHERE IT HAPPENS As the barometer of the real estate industry, the next four days at Cityscape will make or break expert predictions. But when it comes to trends, the only way is Contents up for Cityscape Dubai – and its developments 9 Cityscape: welcome World’s largest B2B investment and development showcase returns to Dubai 10 Update: exhibitor news Latest updates from the show floor and key emerging markets 17 Focus: investment Investment potential across Dubai’s different asset classes 18 Line-up: conference programme Analysis and debate of the industry’s hot topics 21 Line-up: speaker profiles Leading industry experts share their market insight 35 Focus: sovereign wealth funds Analysis of the regional funds targeting established markets 36 Focus: global competitiveness The top 20 cities leading global urban competitiveness stakes 39 Focus: industry report Mazaya Real Estate Index activity report for Oman 41 Focus: Cityscape Intelligence Macdonald & Company’s 2008 Middle East Salary Survey 42 Focus: Oxford Business Group All eyes are on Dubai this According to the event industry professionals from Cityscape Dubai to highlight the Egypt’s investment and development focus week as the region’s real estate organisers, equity-rich Middle around the world are turning progress of its Morocco, Syria, 44 Overview: UAE investment and development East property developers are their attention to Cityscape Yemen and Egypt projects. Destination market overview community comes together seeing increasing real estate Dubai this week to check the High-level support comes 49 Event: golf tournament for the world’s biggest – and opportunities in spite of pulse of the changing local and from Platinum sponsors Nakheel, All the action from the 2008 Cityscape Dubai Golf Classic most successful – B2B uncertainty in the global regional market,” he explained. ALDAR Properties, Dar Al Arkan, industry showcase. markets – aptly demonstrated Leading developers from Qatari Diar, Saraya, and Tanmiyat. 55 Preview: architectural award 2008 Cityscape Architectural Awards shortlist Cityscape Dubai is once by Nakheel’s announcement the region and beyond will be Gold sponsors are Abyaar, Aqaba again a sell-out, taking over yesterday (see opposite). showcasing their projects during Development Corporation and every square metre of the “The sheer scale and intensity the week including Abyaar Real Tameer; while Silver sponsors extensive Dubai International of the iconic projects in one of Estate Development, with three are Al Qudra Real Estate, MAG Height of competition Convention & Exhibition Centre. the most impressive property new projects under development, Property Development and Nakheel announces ‘tallest tower in the world’ Now in its seventh year, booms in modern history has one of which is an innovative Iskandar Financial District. records are set to be broken once kept the UAE, and Dubai in arts precinct initiative and newly- Dubai-developer Nakheel has ensured that it is the talk of the show again with more than 60,000 particular, in the global headlines launched Meraas Development, THE CITYSCAPE SUCCESS STORY today with an announcement that it will build the tallest tower in the participants expected to attend, for the best part of a decade. which has vowed to contribute Cityscape Dubai world – reaching an incredible one-kilometre in height, which would from over 150 countries, as well Now, as the world faces up to to the emirate’s real estate t8PSMETMBSHFTU##JOWFTUNFOU and development event make it 25 percent taller than Emaar’s Burj as a number of international market uncertainty, we enter scene by focusing on holistic t0WFS SFHJPOBMBOE Dubai, currently the world’s tallest building. celebrities including Hillary a new era in which Middle urban planning and design. international exhibitors Nakheel’s development will also boast Swank, Shahrukh Khan and East developers are expected Saudi Arabia’s Tanmiyat t QBSUJDJQBOUTFYQFDUFE the world’s only inner city harbour and cover Michael Schumacher. For to maintain and even increase will update the industry on to attend from over 150 countries an area of more than 270 hectares. It will the first time ever, the event their presence throughout the its Ajman Marina project and t"QFSDFOUJODSFBTFJO64 exhibitors on 2007 become home to more than 55,000 people has also been extended to world,” said Rohan Marwaha, the new DIFC Towers, while t"QFSDFOUJODSFBTFJO8FTUFSO BOEQSPWJEFBXPSLQMBDFGPSBGVSUIFS run for a total of four days. managing director, Cityscape. international exhibitor Iskandar European exhibitors on 2007 while attracting millions of visitors each year. As the barometer for the “The debate will no doubt Investment is in town to promote Cityscape global calendar Rivalry between developers has begun early real estate industry in the go on about how much, or the 2,200-square-kilometre t4FWFOFYJTUJOHJOUFSOBUJPOBM this year with the announcement coming late region and beyond, the show how little, the Middle East real financial district, which aims to exhibition and conference events: Dubai, Abu Dhabi, China, yesterday afternoon as the final build-up to promises an exciting week estate industry is escaping the position itself as the ‘Dubai of Asia, USA, Latin America, India Cityscape Dubai was being completed. of open forum discussion on volatility in the global markets. South-East Asia’. Qatari Diar, t5ISFFOFXTIPXTGPS4BVEJ Turn to page 10 for the full story. the issues of the moment. But with over 1,000 exhibitors, meanwhile, will use the forum of Arabia, Russia and South Korea welcome SHOW WELCOME TO CITYSCAPE DUBAI 2008 Rohan Marwaha, managing director, Cityscape Welcome to Cityscape Dubai marketing campaign and 2008, to all those fresh to this database, coupled with a annual event as well as those of world-class project and event you who have returned to join management team, and the us again for the world’s largest support of the leading knowledge B2B real estate investment skills company in the world – and development showcase. the Institute for International This year marks the seventh Research (IIR) – collectively anniversary of Cityscape Dubai provide a winning formula. and both the interest and I hope you find this event as excitement that the conference interesting and informative as and exhibition generates, ever, and I would also like to show no signs of abating. invite you to join us next month The growth of the event also in Brazil, for Cityscape Latin reflects the tremendous America from November 4-6. growth and advances that the Whether you are looking for real estate sector has made development and investment in this dynamic region. opportunities, joint venture At this year’s event we partners, or simply to discover expect to welcome a record- the best way to penetrate the breaking 60,000 real estate most talked-about real estate professionals, from over 120 market in the world, Cityscape countries across the globe, Latin America will provide you filling the 75,000 square with a platform to achieve this. metres of space at the Dubai The final event of the year International Exhibition Centre will be Cityscape India, to with over 1,000 exhibitors. be held in Mumbai at the Our exciting programme Bombay Exhibition Centre features four days of interactive from December 8-10. conferences, examining the The Indian real estate future opportunities across the sector has been experiencing end-users as the property market global calendar – in Russia, but the local market cannot from September 15-17, 2009. Middle East and within the key unprecedented growth, has overexpanded in relation Saudi Arabia and Korea. satisfy this demand. Cityscape In Korea, office space and global emerging markets. This along with rapid economic to economic fundamentals. Cityscape Russia will be Russia will demonstrate hospitality facilities are in high will be complemented by a development, over the past Investors have opted for held at Moscow’s Expocentre these opportunities to an demand and short supply, series of in-depth workshops. couple of decades, despite the a wait-and-see attitude in from June 2-4, 2009. international delegation. providing a lot of opportunities The success of the Cityscape fact that the sector is fragmented recent times to cope with With a sustained downward Cityscape Saudi Arabia to international developers, all brand has been encouraged and transaction costs are high. economic uncertainties and shift in profits across most will be held at the Jeddah of which will be on supply at by a very buoyant Gulf real This growth can be attributed rising inflation. However, they of the developed markets, International Exhibition Centre this inaugural Cityscape event. estate market, backed by to several structural factors, cannot prolong this strategy investors are heading to from June 15-17, 2009. At Cityscape we are strong liquidity and the ability among them rising income, over the long-term due to the Russia to seek higher returns. Unlike other Gulf countries, continually striving to to execute projects quickly – the nuclearisation of families, inherent need for housing Despite the higher risks the bulk of demand for real keep you informed of the but there are other underlying increased urbanisation and the and commercial projects. In and some uncertainty, the estate in the Kingdom comes global opportunities in real reasons for the success. easy availability of finance. such a scenario, cautious Russian real estate market from local residents, although estate across our emerging One of the key strengths Now that the euphoria has decision-making supported in general, and Moscow in this has been sufficient to markets, and I look forward of the event is the fact that reached a point where the by proper research is advised, particular, remains one of the drive prices up significantly to announcing more new we provide access to the major concern is whether the which is where the Cityscape most attractive in Europe.