Landscape bleak since Cityscape peak

Despite the best efforts & remarkable enthusiasm of the Cityscape organisers, this year’s event seems to have turned out pretty much as most expected.

The entire event has had very low attendance with too many exhibitors and far too few buyers, as the worldwide economic crisis has painted a realistic picture of real estate in the UAE, & globally, upon the exhibition.

The Cityscape project has in previous years become the benchmark event at which major construction projects are revealed and signed upon; a scene of frenetic business dealing for property in Dubai and across the UAE. This year the activity appeared to most to be a normal working business day.

What seems apparent is that attendees this year have used the event to pool ideas and concepts aimed at simply surviving the market downturn, instead of showcasing major projects.

However, the feeling across the market is that the worse is now over. Large projects such as the Metro continue to forge ahead, and current property values represent great value for money for the opportunistic investor.