Abu Dhabi-based industry heavyweights have shown full support for capital debutant Cityscape Abu Dhabi, according to show organisers IIR Middle East. The premier property development and investment showcase, which is set to take place at the Abu Dhabi Exhibition Centre on 8–10 May 2007, has attracted some of the biggest industry names in Abu Dhabi. Major developers such as Sorouh Real Estate, Aldar Properties, Escan and Tourism Development & Investment Company (TDIC), as well as Tamouh Investments are all committed to a significant presence at the event as projects in the UAE capital top US$ 270 billion.
Mark Goodchild, Project Manager, Cityscape Abu Dhabi, commented, “This is the first time Cityscape has ventured into Abu Dhabi and we have been overwhelmed by the positive response from the key industry players in the capital. It is an ideal opportunity for them to showcase some spectacular projects and to do this on home-ground to an international audience, obviously adds a great deal of pride and kudos.”
Quite apart from signing-up for major sponsorship deals and taking up to 2,000 square metres of exhibition space, between them, Sorough, Aldar, Escan, TDIC and Tamouh Investments are currently involved in projects estimated at over US$ 60 billion. Aldar Properties is developing the US$ 14.7 billion Al Raha Beach project and TDIC the prestigious Saadiyat Island at a cost of US$ 27 billion. Sorough is leading the US$ 2.5 billion Al Shams Development and Tamouh Investments is the principal developer of the US$ 1.4 billion Al Reem Island Development.
In all, Cityscape Abu Dhabi is expecting more than 200 exhibitors from over 50 different countries, covering a total of 25,000 square metres. In addition, two parallel conferences run alongside the exhibition, one which will focus on Waterfront Developments and the other on Real Estate Finance and Investment. Another highlight of the three-day programme is the Cityscape Real Estate Awards - Excellence in Real Estate Investment And Development.
With its population of over one million inhabitants, Abu Dhabi is by far the wealthiest emirate in the UAE and in 2005 had the highest per capita income in the world at US$ 46,147. It has proven oil reserves which are estimated to last for another 150 years and currently pumps 3.5 million barrels of oil per day generating in excess of US$ 90 billion annually.
“Abu Dhabi clearly has the financial clout to entice investors, but it has also been blessed with a pristine coastline and many uninhabited islands, magnets for sympathetic real estate development. With its natural beauty and excellent track record on environmental issues, Abu Dhabi has immense potential,” added Goodchild.
Regional support has also been strong for Cityscape Abu Dhabi, with ALDAR, Aqaba Development Corporation, ESCAN, Sorouh, Tamouh Investments, TDIC signed up as platinum sponsors, and Dubai-based Amlak Finance taking the gold sponsorship package.
For more information, please log on to http://www.cityscapeabudhabi.com.
