The 16th edition of Cityscape Global kicks off today in Dubai, featuring 300 exhibitors showcasing approximately 370 real estate projects currently under development. Ahead of the exhibition, the Cityscape conference began yesterday, with approximately 1,500 delegates and speakers discussing topics such as new legislation, Dubai’s blockchain strategy, the latest fire code issued by the Dubai Municipality, and the appeal of the healthcare sector.
Engineer Marwan bin Ghalita, Executive Director at the Real Estate Regulatory Agency (RERA), during the conference’s first session that the authority monitors payment plans and offers put forward by real estate developers in Dubai to ensure these companies comply with and adhere to the highest international quality standards. He said that the UAE’s real estate sector is the most competitive and transparent for investors and developers, noting that the increase in investment volume in the real estate sector underscores the confidence the sector enjoys at both the regional and global levels.
He emphasized that projects currently under construction are secured prior to sales, noting that the Authority focuses on improving all real estate sector services and adopting the latest technologies in real estate activities.
For his part, Khalifa Al Suwaidi, CEO of Emirates Real Estate Solutions—the technology arm of Dubai Land—said that the UAE ranks among the world’s fastest countries in terms of completing real estate transactions, according to the World Bank’s Doing Business report.
Al Suwaidi noted that the average time required to complete a real estate registration transaction—specifically a «sale/purchase»—ranges between 20 and 30 minutes, which is the best rate in the Middle East. He said the department will adopt a range of technological solutions related to mortgages and the implementation of blockchain technology, as part of the Dubai government’s broader adoption of this technology, noting that GITEX 2017 will see the department’s first announcement on this matter.
With projects located within the UAE being made available for sale for the first time in the exhibition’s history, exhibitors—including Aldar Properties, Azizi Development, Damac, Deyaar Development, Dubai Properties, Jumeirah Golf Estates, Meydan Group, Nakheel, and Union Properties—are preparing to launch new projects and offer exclusive deals to attract investors. Among the many new projects featured at the exhibition is the launch by the Emirati real estate developer Imkan of its «Makers District» project, a 118-hectare waterfront complex on Al Reem Island in Abu Dhabi, which includes residential units, a hospital, and commercial spaces.
