The 16th edition of Cityscape Global kicks off today in Dubai, with 300 exhibitors presenting around 370 real estate projects under construction. Prior to the start of the exhibition, the Cityscape conference began yesterday, with the participation of around 1,500 delegates and speakers who discussed topics such as new legislation, Dubai’s blockchain strategy, the latest fire code issued by Dubai Municipality, and the attractiveness of the healthcare sector.
Engineer Marwan bin Ghalita, CEO of the Real Estate Regulatory Agency (RERA), affirmed during the conference's opening session that the agency monitors payment plans and offers presented by Dubai's real estate development companies to ensure their adherence to the highest international quality standards. He stated that the UAE's real estate sector is the most competitive and transparent for investors and developers, adding that the increasing volume of investments in the sector underscores the confidence it enjoys both regionally and globally.
He stressed that the projects currently being implemented are secured before sales operations, noting that the institution focuses on improving all real estate sector services and adopting the latest technologies in real estate sector activities.
Khalifa Al Suwaidi, CEO of Emirates Real Estate Solutions, the technology arm of Dubai Land Department, said that the UAE is among the fastest countries in the world in terms of completing real estate transactions, according to the World Bank’s Doing Business report.
Al Suwaidi pointed out that the average time required to complete a real estate registration transaction (buying/selling) ranges between 20 and 30 minutes, the best rate in the Middle East. He said the department will adopt a range of technological solutions related to mortgages and the introduction of blockchain technology, as part of the Dubai government's general adoption of this technology. He noted that GITEX 2017 will witness the department's first announcement regarding this matter.
With sales open for the first time in the exhibition's history for projects located within the UAE, exhibitors including Aldar Properties, Azizi Developments, Damac Properties, 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 being showcased at the exhibition is Makers District, a 118-hectare waterfront development on Reem Island in Abu Dhabi by Emirati real estate developer Imkan, featuring residential units, a hospital, and retail spaces.
