Cityscape Abu Dhabi, the UAE capital’s largest property show concluded on a high note today (23 April) with 81 per cent of Abu Dhabi-based developers launching new projects at the event.

The ninth edition of Cityscape Abu Dhabi held at the Abu Dhabi National Exhibition Centre, has been a hotbed of activity, with major announcements unveiled by Abu Dhabi Urban Planning Council (UPC), Department of Municipal Affairs, Tourism Development & Investment Company (TDIC), Zaya, and Al Forsan Real Estate.

Leading developers such as Aldar Properties and Wahat Al Zaweya have launched Emirati-only projects to cater for the high demand.

Talal Al Dhiyebi, chief development officer, Aldar Properties said: “We have launched three residential developments, two on Yas Island and one on Reem Island.  After selling out Al Merief land plots in less than a week to Emiratis, we decided to launch West Yas, which is 1,000 villas on Yas Island for UAE nationals only.”

“Another trend that we are observing is that nationals from all over the UAE are very attracted by the stability of the Abu Dhabi market.  The increase in job openings and overall healthy economy are directly reflected in their purchasing power.”

Bloom Holdings has launched five new projects at Cityscape Abu Dhabi this week, all of which have proved to be a big hit with both local and regional investors.

Sameh Muhtadi, CEO, Bloom Holding, said: “We have had outstanding success for our Park View project on Saadiyat Island with Phase One now completely sold out.  The right product, the right location and the adequate platform such as Cityscape Abu Dhabi has ensured that we have had the perfect recipe for success.”

With JLL’s Abu Dhabi Market Overview revealing that hospitality was the standout sector this quarter, witnessing a slight growth in occupancy rates and a 12 per cent increase in room rates, hotels were also at the forefront of this year show.

Ali Eid AlMheiri, executive director, Mubadala Real Estate and Infrastructure, said: “Cityscape Abu Dhabi has been a great opportunity for Mubadala to show how Al Maryah Island has truly come alive as Abu Dhabi’s international financial center.”

“We’re excited by the phenomenal interest we’ve registered in Rosewood Abu Dhabi and Four Seasons Hotel Abu Dhabi’s coming luxury residential units and the Grade A commercial space in Abu Dhabi Global Market Square.  We look forward to the rest of 2015 and continuing to draw crowds to events at The Galleria on Al Maryah Island and the waterfront promenade,” he added.

Wouter Molman, director of Cityscape Group at Informa Exhibitions, the organiser of Cityscape Abu Dhabi, said:  “This year’s edition has been the busiest we have experienced in recent years.  A study we conducted on-site revealed that 81 per cent of Abu Dhabi-based developers launched new projects, while 64 per cent of exhibitors showcased existing projects, further highlighting the positive sentiment of the real estate market.”

The show welcomed more than 130 regional and international exhibitors.

Organised by Informa Exhibitions, Cityscape Abu Dhabi hosted exhibitors from the Cayman Islands, Egypt, Jordan, Lebanon, Kuwait, Latvia, Nigeria, Portugal, Serbia, Thailand, the UK and the US.

Cityscape Abu Dhabi is supported on an official basis by strategic partner Department of Municipal Affairs (DMA), platinum sponsor Wahat Al Zaweya, silver sponsor Farglory, official VIP sponsor Ejadah Asset Management Group and official mortgage provider Abu Dhabi Finance.  

The 2016 edition of Cityscape Abu Dhabi will be held from April 19 to 21. – TradeArabia News Service