Cityscape Global, the Middle East’s largest property showcase, opened today (September 8) in Dubai, UAE, welcoming more than 300 exhibitors from across the globe along with top investors, developers, government officials and real estate professionals in a significantly expanded exhibition arena.

The region's leading real estate event has registered a 15 per cent increase in exhibitors for this year’s show, said the  organisers.

The show comes at a time when an additional 22,000 residential units are expected to enter the market by the end of 2015, followed by another 13,000 units next year and 10,000 units in 2017.

This reinforces the sentiment that the UAE’s real estate sector is continuing to grow at a sustainable rate as the demand for housing rises, said the property experts.

One of the largest and most influential real estate investment and development event for emerging markets globally, Cityscape Global 2015 runs till September 10 at the Dubai World Trade Centre.

It is the annual meeting point for key real estate investors, developers, investment promotion authorities, architects, designers and other real estate professionals to drive growth in real estate investment and development across emerging markets globally.

This year, the event has been extended by two additional exhibition halls – four more halls since the 2013 event – covering more than 40,000 sq m of exhibition space, said the organisers.

“The demand for exhibition space has been remarkable and as such, we have increased the floor area and adjusted the layout to ensure visitors can conveniently navigate their way around the venue,” remarked Wouter Molman, director of Cityscape Group.

“The need to add two additional halls this year has stemmed from both new exhibitors as well as previous exhibitors requesting larger stands to accommodate their existing and new projects which will be showcased to thousands of visitors.

“In 2014, we welcomed more than 47,000 participants; a 42 per cent year-on-year increase. With Cityscape Global set to be the largest it has been for six years, we expect a very strong turnout of visitors from all over the world, as they look to maximise their investment potential in this lucrative market,” Molman added.

Headline exhibitors returning for 2015 include Emaar, Dubai Properties, Dubai World Central, Meydan, Meraas and Nakheel, while first-time exhibitors include Kleindienst Group, DMCC and Al Barari.

Majid Al Futtaim Properties, another newcomer to the event, will showcase its major community projects, displaying three amenity-rich neighbourhoods that can accommodate people’s modern lifestyles where they can live, work and play, and even learn in the same place.

According to experts, this year, the focus is on affordable housing with developers lining up to unveil a wave of attractive and more affordable new housing options during the show.

End-users are set to capitalise on stabilisation within the Dubai real estate market as more affordable housing options enter the market ahead of Expo 2020, and price adjustments improve affordability of existing stock, said the event organisers.

“We must understand that Dubai is experiencing a normal market correction which was always inevitable,” said Molman.

“The Expo 2020 win caused a sharp rise in property prices at the end of 2014, but the steps taken by the government have helped regulate the market and the establishment of a rent index has created more clarity for investors – all signs of a maturing market,” he pointed out.

With end-users now looking to take advantage of the stabilising property prices, more attractive housing options are on the way from developers like MAG 5 Property Development, which is using Cityscape Global to introduce a new integrated and affordable residential community, he stated.

Offering more than 1,000 residential units as well as providing retail, dining, leisure and entertainment amenities, MAG 5 Boulevard is a 24-hour living, walkable community which will encompass more than 800,000 sq ft of land. MAG 5 Property Development will be launching Phase Two of the project at Cityscape, he added.

A major highlight at the event is the Cityscape Awards for Emerging Markets, for which a total of 37 pioneering real estate projects from 15 countries have been shortlisted this year.

The awards programme attracts hundreds of entries from developers and architects behind real estate developments across emerging markets globally.

With sustainability an underlining trend at this year’s Cityscape Awards for Emerging Markets, winners from each of the 13 categories will be announced in an elaborate ceremony taking place at Conrad Hotel, Dubai tonight.-TradeArabia News Service