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Authorities have made the announcement as residents plan to celebrate the last long weekend of the year
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Realty expects renewed interest
Cityscape Abu Dhabi 2013 opened here with a renewed interest from realty sector, as market is recovering.
The seventh edition of the property show was opened by Shaikh Hazza bin Zayed Al Nahyan, National Security Advisor andthe Deputy Chairman of the Abu Dhabi Executive Council, in the presence of senior government officials, diplomats and industry executives.
The show, which will run until Thursday, is being held at a time when property prices are improving and rental values in Dubai are on the rise, reflecting the emergence of gap between supply and demand.
Shaikh Hazza bin Zayed Al Nahyan visiting a stand at Cityscape Abu Dhabi 2013 exhibition on Tuesday. — KT photos by Nezar Balout
In Abu Dhabi, the property prices have recovered 10 per cent on average in the last one year. Ahmed Al Fahim, executive director of marketing, communications, sales and leasing, told Khaleej Times that property prices are increasing at Saadiyat Island.
Over 70 property developers have showcased their projects. Leading exhibitors Urban Planning Council, Abu Dhabi Municipality, Mubadala Real Estate, Al Maabar, Bunya, Al Qudra Properties and others have displayed their initiatives and real estate projects.
Emirates Steel Industries has showcased its product range at the show including rebar, wire rod and heavy sections.
“We believe that this exhibition is an important event for us. It has offered us many opportunities and this time we also plan to showcase all our range of products for visitors to view,” said Mubarak Al Khaili, Emirates Steel SVP of Marketing.“We expect that the show would provide us with an excellent venue to showcase our expertise in steel and enhance our access to the lucrative UAE and GCC markets.”
Some $4.3 trillion worth of construction projects in the Mena region will be the key driver supporting the steel industry’s growth between now and the year 2020, according to press reports, followed by oil and gas, petrochemicals and other infrastructure projects.
—haseeb@khaleejtimes.com
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