The “Cityscape Abu Dhabi” exhibition will take place at the “Abu Dhabi National Exhibition Center” from April 21–23, 2015. Held under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, the exhibition’s sixth edition will bring together 130 exhibiting companies across 18,000 square meters.
“Abu Dhabi Market Outlook” Forum
Experts and industry professionals will discuss the global workforce and its sustainability and continuity through the “A Look at the Abu Dhabi Market” forum, one of the exhibition’s highlight events, in collaboration with JLL and with the support of Masdar City. The forum will also address a number of topics, focusing on the latest trends and initiatives launched by the United Arab Emirates in this field; Meanwhile, a specialized panel discussion will be held to explore ways to support differentiation and its role in fostering sustainable growth in the current market.
Weighs on government spending
David Dudley, Regional Director and Head of the Abu Dhabi Office at JLL, and one of the keynote speakers at the “Abu Dhabi Market Outlook” forum, revealed the recent performance of each real estate sector during the first quarter of 2015; He said: "Although the government continues to invest in major infrastructure and economic diversification projects worth several billion dollars—which will inevitably be reflected in demand across all real estate sectors."
Dudley added: “However, we expect government spending to decline this year as a result of the recent drop in oil prices, which will generally slow the annual growth rate of demand. Projects launched during the period of high oil prices play an important role in creating new jobs and driving growth in housing demand, albeit at a slower pace. This is based on the current shortage of affordable housing.
Urban planners are better positioned to adopt new technology
In a related development, Anthony Maloz, Director of ”Masdar City,” and one of the keynote speakers at the “Abu Dhabi Market Outlook" forum, will highlight the cost-effectiveness of sustainability and the capabilities that cities like "Masdar“ have to elevate their communities compared to other communities in Abu Dhabi and the United Arab Emirates.
Malouz explained: ”For a long time, sustainable construction was characterized by high costs, particularly in the Gulf Cooperation Council (GCC) region due to a lack of sustainable and low-carbon building materials. Committed to adhering to sustainability standards as much as possible, architects, developers, investors, and urban planners today have greater access to better resources, new technological advancements, and support from the Abu Dhabi Urban Planning Council and our Green Footprint. These steps contribute to the construction of high-performance buildings such as the “Siemens” building in “Masdar City,” which holds a “Leadership in Energy and Environmental Design’ (LEED) Platinum certification; and the headquarters of the International Renewable Energy Agency (IRENA), which holds a ‘Four Pearls’ certification and is the first office building in Abu Dhabi to receive this certification.‘
Abu Dhabi: The Most Important Real Estate Market
Talal Al-Dhiyabi, Head of Development Projects at Aldar Properties and one of the forum’s keynote speakers, discussed the reasons why the UAE capital is an important hub for global investment. He said: ’Abu Dhabi is a key market for both local and international investors. The government’s diversification strategy has succeeded in creating a strong and stable investment environment.‘
He added: ’Prominent destinations such as ‘Shams Abu Dhabi’ and ‘Yas Island” have helped put Abu Dhabi on the map and have attracted significant international interest in the capital as one of the most important real estate markets. According to the "Dubai Land Department," foreign investors accounted for nearly half of all real estate transactions in the United Arab Emirates in 2014.“
Al-Dhiyabi continued: ”Abu Dhabi is evolving into one of the world’s leading new cities, driven by strong economic growth stemming from non-oil sectors such as finance, education, tourism, and healthcare. The real estate market’s operating regulations have succeeded in encouraging investment in this sector, given the confidence they instill in investors regarding the government’s ability to manage the sector wisely and securely.“
