Visit Cityscape and sign your home sales deal
Developers are allowed to make on-site property sales to visitors during this edition of Cityscape Global in Dubai
Published: Tue 29 Aug 2017, 4:13 PM
Last updated: Wed 30 Aug 2017, 8:32 AM
Cityscape Global opens its doors to the public from September 11 to 13 this year at the Dubai World Trade Centre (DWTC). But what makes this edition of the property exhibition different is that developers are allowed to make on-site sales to visitors. This opens a whole gamut of opportunities to developers who have been trying to generate momentum in the Dubai market with flexible payment plans that allow purchasers to spread the cost of their investment over a longer period after handover. Visitors can expect exclusive offers for properties at Cityscape Global, with several deals thrown in to sweeten the mix.
"Approximately 30 per cent of last year's attendees were home buyers and investors, while 68 per cent of visitors confirmed they intended to make a purchase or conduct business with a company that they met during the exhibition," says Tom Rhodes, exhibition director at Informa Middle East, organisers of Cityscape Global.
The bid to allow on-site sales is a joint effort by the Real Estate Regulatory Agency (Rera), Cityscape and DWTC. Therefore, visitors can rest assured that all projects have been properly vetted. Each project that will be promoted at Cityscape Global has to be submitted to the Rera through its online system.
All exhibitors showcasing projects in surrounding emirates are also required to submit approval forms from the relevant Land Department or Municipality, the executive points out.
"All companies require full approvals, including escrow account number, trustee account number, etc., before going out to the market to promote the project. These implementations as well as the development of Rera's online approval system Trakheesi in October last year have allowed us to support the promotion and now sales of properties at Cityscape," adds Rhodes.
"It is quite likely that developers will introduce exclusive offers at Cityscape this year," reckons Craig Plumb, head of research, JLL Mena.
While Cityscape Global has hitherto been used as a barometer to gauge market sentiment after the traditional summer lull, the shift in the nature of the exhibition this year from B2B to B2C is a sign of the changing times. With the surging popularity of off-plan property sales, developers are likely to leverage the event to launch and display new off-plan products.
"I believe Cityscape is a good catalyst for generating property sales and allowing on-site sales will draw more end-users to the event, which is ideal for developers who wish to reach and speak with their target audience directly. They will be able to offer specific deals and payment plans," observes David Godchaux, CEO of Core Savills.
Off-plan sales accounted for almost 65 per cent of total sales recorded in Dubai over the first half of the year. With attractive payment plans and stabilising prices, the time is opportune for end-users to get their foot on the Dubai property ladder. What better platform than Cityscape Global to gain a foothold into the sector?
"Average prices have fallen around 15 per cent over the past two years but now appear to have stabilised, with very little further decline recorded over the past few months. While it is always difficult to predict the exact bottom of any market, it does appear that the Dubai residential sector is now close to its cyclical trough, making this a good time for potential purchasers to buy," suggests Plumb.
Organisers are encouraging visitors to pre-register online in advance to avoid paying a Dh100 entry fee for those who register on the same day. They can also check out the Cityscape Online portal where exhibitors have uploaded project and service information.
Besides the presence of local developers such as Azizi Developments, Danube Properties, Dubai South, MAG PD, Jumeirah Golf Estates, Sobha Group, Deyaar and Union Properties with projects targeting the affordable section of the market, this year's edition of Cityscape Global will see a strong developer contingent from countries such as Pakistan (12 per cent), Turkey (nine per cent), the UK (six per cent), Bahrain and Cyprus (four per cent).
"Pakistan will once again see a large international presence with around 25 developers showcasing their projects. This is a great match for the Cityscape Global visitor base, as Pakistani nationals ranked second on our list of international visitors in 2016," adds Rhodes.
Till date, 300 exhibitors from 23 countries have registered to exhibit at Cityscape Global 2017, spread across 42,000sqm of space, or nine halls of DWTC. New participants this year are from China, Korea, Georgia and the United States.
"We registered approximately 38,000 participants from 179 countries at the event in 2016 and we expect to see similar figures this year," says Rhodes, referring to the visitor footfall.
A selection of real estate experts will also be at hand to guide visitors on how to maximise real estate investment and important information before finalising a purchase.
"Cityscape is a large platform for developers to help potential buyers make an informed decision - buying a home is a lifetime investment. Too often in the past, buyers have made a rushed decision based on limited information as they didn't receive proper sales support. This is a chance for end-users to evaluate what is currently available in the market, to be educated on their choice of property and to evaluate the developer based on reputation and credibility to bring the project on time. Advisors will be present to give insights on the overall market and, having all the major developers in one place will help to get a comprehensive view of the variety of products on offer," concludes Godchaux.