Regional developers to reveal major new luxury property developments at Cityscape Abu Dhabi showcase
Abu Dhabi, UAE, 12 April 2015: Fashion TV has announced it is ready to makeover the region’s real estate market with the launch of branded residences and hotels throughout the GCC as well as a new Fashion TV City concept project.
With the location of the region’s first Fashion TV branded city still to be confirmed, the world’s leading fashion television channel will be at Cityscape Abu Dhabi, from 21-23 April at the Abu Dhabi National Exhibition Centre, to reveal details of its new property portfolio opportunities.
Visitors to the 9th edition on Cityscape Abu Dhabi, held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, can expect numerous real estate launches from exhibitors at the event, according to information from the organisers.
Louay El Kadri, Fashion TV Residence Director at Modern Building Construction Company, the licensee of Fashion TV Residences, Hotels and Resorts, said: “Research from Knight Frank has suggested that branded residences and projects command a 58.3 percent higher price per square foot in Dubai alone. We are coming to Cityscape Abu Dhabi to meet potential private investors and developers interested in branding their projects and appointing Fashion TV to design and promote their developments.”
“We are confident that our Fashion TV City concept will be welcomed by government agencies that will understand the opportunities that such a prestigious development would offer their city. GCC countries and fashion go hand in hand in the current market and the concept of the city is to create a regional fashion hub and one of the world’s foremost fashion capitals.”
With Fashion TV residences and clubs currently under construction in Austria, India, Indonesia, Malaysia and Turkey, the launch of the concept in the GCC presents significant leverage to developers that want their luxury projects to stand out in a crowded market.
H.E. Dr. Abdullah Ghareeb Albloshi, Managing Director of the land and property management sector in the Department of Municipal Affairs, Abu Dhabi Emirate said: “Cityscape Abu Dhabi is a flagship event in the real estate landscape of the region, offering a perfect platform for property developers and private investors, as well as other relevant bodies, to showcase and review iconic projects shaping the urbanisation drive of the region in general and Abu Dhabi Emirate in particular.
“This sector is critically important for empowering the local economic growth.” Dr. Albloshi added, referring to the efforts of the municipal system aimed at enhancing the functioning of the lands and real estate sector besides regulating and enriching it with the best policies and legislations capable of boosting the local investment, and sustaining its growth.
In other launch news, the Tourism Development & Investment Company (TDIC) has confirmed it will showcase a new residential project at Saadiyat Beach District at the three day event, as well as highlight Saadiyat Island’s growing development through its various projects, such as Louvre Abu Dhabi.
Cityscape Abu Dhabi is also an opportunity for TDIC to raise awareness about the availability of unique investment opportunities that promise high returns, such as Mamsha Al Saadiyat, the first residential development located in the island’s cultural district.
Saadiyat is expected to be one of the most talked about destinations on the Cityscape Abu Dhabi exhibition floor, with bloom Properties also planning to announce a new project there, as well as revealing details of a development on Reem Island, Abu Dhabi and its Stella Maris residential tower in Dubai Marina.
Wouter Molman, Director of Cityscape Group at Informa Exhibitions, the organisers of Cityscape Abu Dhabi, said: “Luxury properties in Abu Dhabi are set to continue driving the buoyant market place.
“According to Chestertons, a long term Cityscape Abu Dhabi exhibitor, luxury homes accounted for more than a quarter (27 percent) of total sales transactions in 2014. Rental rates for premium apartments in Abu Dhabi also surged by 10 percent in 2014, leading to expectations of a further 5 percent increase in 2015.
“A report from Asteco also highlighted that luxury properties on Saadiyat Island and Reem Island’s Marina Square recorded the largest increases in rental rates and have seen consistently high occupancy levels. As such, we await with renewed interest, the launch of new luxury developments at Cityscape Abu Dhabi this year.”
With more than 130 exhibitors confirmed to take part in this year’s Cityscape Abu Dhabi, a 15 percent increase from 2014, the UAE capital’s premier real estate showcase will cover more than 18,000sqm of exhibition space.
After a successful launch edition last year, the Abu Dhabi Market Overview Forum returns on the opening day (21 April), jointly organized with JLL and supported by Masdar City. The half day Forum will draw attention to the Emirate’s latest trends and initiatives, including future developments and anticipated new real estate regulations.
Cityscape Abu Dhabi 2015 returns with support from 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. For more information, visit www.cityscapeabudhabi.com