A show of strength by developers

Builders are showcasing new and existing projects to attract investors

By Haseeb Haider - Principal Correspondent, Abu Dhabi

Published: Thu 23 Apr 2015, 12:29 AM

Last updated: Thu 25 Jun 2015, 11:43 PM

Abu Dhabi — Abu Dhabi’s developers are out in full force at the ninth edition of Cityscape Abu Dhabi, which opened on Tuesday at the Abu Dhabi National Exhibition Centre (Adnec). Business activity was brisk on day one, with developers showcasing new property projects.

Shaikh Hazza bin Zayed Al Nahyan visiting a developer’s stall at Cityscape Abu Dhabi on Tuesday. — KT photos by Shoaib Anwer

The three-day property show was inaugurated by Shaikh Hazza bin Zayed Al Nahyan, National Security Advisor and Vice Chairman of the Executive Council of Abu Dhabi. The show, which will continue until Thursday, has seen the participation of over 130 property developers, government departments, mortgage providers, consultants, architects, engineering and construction firms from the UAE and overseas.

The property show reflects Abu Dhabi developers’ confidence in the market. All leading developers in Abu Dhabi and Dubai are displaying their projects, mostly mixed-use, to attract buyers.

Masdar, which announced its sustainable city project Masdar City, is showcasing a residential project comprising 500 apartments in the first phase. Manazel Real Estate has on display phase two of its Al Reef villa project.

Bloom Properties, which has a huge portfolio of properties, is showcasing its Park View residence and hotel apartment project on Saadiyat Island, which is also home to the Louvre Abu Dhabi, Guggenheim museum and other tourist attractions.

Bloom has also displayed models of Stella Maris Tower in Dubai Marina, Abu Dhabi Marina, Bloom Central, Bloom Business Centre, Al Ghader and  Bloom Gardens.

Abu Dhabi-owned Tourism Development and Investment Company (TDIC), which is the master developer of Saadiyat Island, has exhibited the Jawaher Saadiyat project, a luxury villa community comprising 83 four-bedroom townhouses and four- to six-bedroom villas.

Tamouh Real Estate has announced two skyscrapers in Reem Island’s City of Lights project, a water-front development featuring 760 apartments.

Private developer Tamkeen has on display four new property projects valued at Dh2 billion, including three multi-storey towers in Abu Dhabi and a mixed-use project in Al Ain.

Tilal Properties, a joint venture between Sharjah Asset Management and Eskan Real Estate Development, is exhibiting models of Tilal City, a first-of-its-kind mixed-use community in Sharjah. The project has registered sales of 70 per cent of land plots in two of its key zones, the developer announced. Launched in November 2014, Tilal City comprises 1,855 land plots, offering an opportunity for UAE residents to buy or lease land and develop properties.

The development allows investors to build for sale, leasing and personal use. Non-Arab expatriates can purchase land plots on a 100-year leasehold basis within the scheme, with freehold land plots available for GCC nationals and Arab residents in the UAE.

Industry leaders will also discuss trends and challenges in the UAE property sector and forge long-term partnerships at Cityscape Abu Dhabi.

Prominent participants at Cityscape Abu Dhabi 2015 include the Urban Planning Council, Department of Municipal Affairs, TDIC, Aldar Properties, Bloom Properties, Mubadala, Al Forsan, Manazel, Reem Developers, TMKN, Wahat Al Zaweya and Ejadah Asset Management Group.

The current edition also has a strong presence of international developers from countries including Turkey, Jordan, Russia, the UK and USA.

— haseeb@khaleejtimes.com

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