Friday 7 August 2020

Cityscape showcases projects worth over $4bn

ABU DHABI, April 19, 2018

Cityscape Abu Dhabi, a top real estate expo, has gathered more than 100 local and international exhibitors, and provided a platform for the launch of numerous flagship real estate projects worth more than Dh15 billion ($4 billion).

The 12th edition of the event concludes today (April 19) at the Abu Dhabi National Exhibition Centre. Among the key projects showcased at the expo were:

Alghadeer by Aldar Properties – Dh10 billion
The first affordable new mixed-use project of Abu Dhabi’s leading property developers is located close to the Kizad Free Zone, Dubai’s Al Maktoum International Airport and the Expo 2020 site. The project consists of 14,408 units including villas, townhouses and maisonettes which will be delivered over a period of 15 years.

MAG EYE by Mag Lifestyle Development - Dh4.7 billion
MAG EYE is a master planned townhouse and villa community situated in Meydan District Seven in Mohammed Bin Rashid City. Built in close proximity to Meydan Racecourse, with easy access to Al Khail and Sheikh Mohammad Bin Zayed Roads, MAG EYE is centrally located within a few minutes’ drive to major leisure and shopping destinations in Dubai.

Jewelz by Danube Properties – Dh300 million
Located in the Arjan area in Dubai, Jewelz is an affordable luxurious residential project composed of 463 units featuring studio, one and two bedroom apartments. Jewelz offers a wide range of leisure facilities, including a spa, a swimming pool, sauna and steam rooms, a multipurpose hall, a jogging track, a barbecue area and a badminton court. It also has an advanced technological system to enhance the protection and security of residents.

Running in parallel to the exhibition, the Cityscape Abu Dhabi Conference took place during the first day of the show under the theme: Rewriting the Rule Book – Generating Growth in Abu Dhabi Real Estate. Four main sessions were discussed: Real Estate Industry Trends in 2018, The 4th Industrial Revolution, Investment in Abu Dhabi, and Affordable Housing.

One of the speakers at the conference, Muhammed Binghatti, CEO and head of Architecture at Binghatti Developers said continued investment in real estate is playing a key role in sustaining the emirate as the government expands its efforts to diversify revenue streams.

“The market’s performance has been improving since Abu Dhabi’s government is taking several measures aimed at diversifying the economy and reducing the extensive dependence on oil prices and the recurring impacts that may accompany it.

“More funds have been invested in sectors such as health, energy, tourism and transport and manufacturing. Additionally, Abu Dhabi offers a profitable environment for investors as it strengthened by high-quality infrastructure, 100 per cent exemption from income and corporate tax, and a high political stability,” he added.

Cityscape Talks are also running during the three days of the show, providing an interactive platform for visitors of the exhibition to learn from experts about the latest industry trends. – TradeArabia News Service

Tags: Cityscape Abu Dhabi | new projects | Alghadeer |

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