Cityscape...a moment of unmasking
Abdulrahman bin Ali Al-Qout
Every year, the Cityscape World Expo, hosted in Riyadh, proves that it is not just a showcase for real estate projects, but a space that reveals more about the mindset of developers than their designs or models.The event, which attracted 172,000 visitors from around the world, with the participation of 550 exhibitors representing developers, investment funds, government agencies, financing institutions and technology companies from more than 120 countries, and witnessed announced deals exceeding 237 billion riyals, is no longer just a real estate gathering, but has turned into a platform that shows the real difference between those who have a vision and those who are content with the scene.
<In Riyadh specifically - the city that today embraces one of the largest urban transformations in the region - the value of a developer is not measured by the type of project he offers, whether it is a commercial tower, an entertainment destination, a hospitality project, an urban plan, or a mixed-use project, but rather by his ability to read market trends. One developer enters Cityscape to test investor engagement, analyze frequently asked questions, capture shifts in institutional demand, and reimagine what the next project should be. On the other hand, other developers enter the show to repeat what they have already shown, and leave without a new idea, a different reading, or even a realistic estimate of what the market is waiting for.
<When an international investor asks about the investment cycle, an operator stops at the details of the operational experience, an urban expert discusses the concepts of quality of life, or a financier inquires about the sustainability of cash flows, these small moments reveal what official reports do not. It is here that a developer gets a new map of opportunities, and redefines what it means to be successful in a commercial, tourism, office, entertainment or mixed-use project. <As I participated in a panel of industry leaders, it was clear that Cityscape not only gives you a platform to talk, but also a platform to measure your awareness against others. The discussions revealed the gap between those who have a clear vision for the future of development and those who are still feeling their way amidst the momentum of change. The experience underscored a fundamental truth: Cityscape is not a showcase of glitz and glamor, but a field where the professional awareness of every player in the sector is tested.
The event made it clear that Cityscape is not a showcase of glitz and glamor. <The event made it clear that the next phase in the real estate sector is not a race for facade or space, but a race for experience and value ... the shopper's experience, the employee's experience, the tourist's experience, the resident's experience, and the investor's experience. The market has become more aware, the customer has become more demanding, and regulators have become more demanding, which means that developers must redefine their projects in terms of service, innovation, flexibility, integration of functions, operational efficiency, sustainability, and real feasibility that goes beyond appearance to substance.
At the end of the day, it's still a race for experience and value. <At the end of the day, Cityscape remains an honest mirror that reflects the reality of the real estate industry in the Kingdom. It reveals not only the projects, but also the minds behind them, and distinguishes between a developer who dares to change and adopt new concepts in development, construction and planning, and a developer who is content to repeat what he used to do despite the changing market. Markets are changing, investor expectations are rising, competition is accelerating, and those who wait for the market to tell them what to do will find themselves on the outside looking in. Those who come away from Cityscape with a deeper understanding, a more mature idea, or a new perspective on their upcoming projects are the developers who will make the difference in the years to come.
The fact remains. <Thus, the truth about Cityscape remains clear... it is a moment of unmasking, and only those who truly understand the market... before they act as if they do.
