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UAE Freezones Biz News Updates
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Cityscape adds to Abu Dhabi's realty competitiveness
 A general view
shows the beach road in the UAE capital Abu Dhabi in this December 2006 file
photo.
More than 100 companies from across the world are participating in the 11th
Abu Dhabi Cityscape 2017, now running in the UAE capital, with industry
reports expecting the event to drive momentum for the property sector in Abu
Dhabi in particular and across the country in general.
According to Rashid Al Baloushi, CEO of ADX, the state of optimism created
by the premier platform is quite justifiable on account of the role played
by the property market, being a significant enabler not for the financial
markets only, but for the tourist, transport, trade and investment platforms
as well.
The impressive turnout witnessed by the event is a testament to the emirate
of Abu Dhabi’s ability to organise successful exhibitions that reflect the
growing stature of the emirate and considerably contribute to the country’s
national economy, he added.
This year’s participants included new players in the real estate markets,
including Al Abbar Group, Tiger Property, Dubai Investments Real Estate
Company, Abu Dhabi Holding, Hydra Properties, and RAK Properties along with
a number of leading property companies that have earned the event an edge
over other similar platforms in the region. A number of key international
real estate companies from Turkey, UK, Maldives, Azerbaijan, Bosnia, Canada,
China, Herzegovina, Cyprus and Portugal are also participating, giving the
event a further international acknowledgement.
New economic developments at the real estate industry in terms of prices,
and supply of diversified types of property and financing are among the
issues being discussed during the event.
Companies participating in the event have shown noticeable tendency to offer
wider options at more affordable prices in line with the prevailing market
conditions, with an emphasis on smaller units that are diversified by
geography and total spaces.
Launching fresh property investments in UAE free zones, five of which are
located in the capital Abu Dhabi, account for part of the debates during the
event.
ADX CEO has expressed belief that the considerable fall in real estate
prices drives medium and long-term investments in Abu Dhabi real estate
sector, highlighting the myriad advantages boasted by the real estate
platform, including predictability and high returns.
The overall economic performance in the Emirate of Abu Dhabi reflects the
high growth potential boasted by the emirate and the international
credibility enjoyed by the economy of the country which has been recently
boosted by the relative stability in the international oil prices, Al
Baloushi added.
He highlighted the impressive role played by a series of economic
partnerships that have been reached over the past period in implementation
of the Abu Dhabi 2030 Vision.
"The new real estate legislation introduced by the Emirate of Abu Dhabi in
areas of credit and mortgage will definitely enhance the real estate
sector’s competitiveness, are expected to reflect positively on the real
estate, tourist, transport, and trade sectors, therefore translating the
objectives for which Cityscape has been organized for, " added Al Baloushi.
20 April, 2017
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Courtesy Emirates News Agency (WAM)
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