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Home / ANALYSIS / The role of FM at Cityscape Global 2016 in Dubai

The role of FM at Cityscape Global 2016 in Dubai

by CW Staff on Sep 14, 2016


Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, at Cityscape Global 2015.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, at Cityscape Global 2015.

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While property markets around the world are characterised by transitory patterns, the GCC’s contemporary real estate market conditions pose opportunities and challenges that few regions can currently match. Expatriate and international investments are being sought by the Middle East’s property developers that, now more than ever, are conscious about the benefits of diversity in their customer base and portfolio.

Leading this evolution are the UAE’s property developers that are looking to capitalise on changing ownership trends. Just under two thirds of expats would consider purchasing property in the UAE, according to research released by compareit4me.com. A May 2016 survey conducted by the finance comparison site found that 64% of expats would consider buying real estate in the emirate, compared to just 46% of those questioned in 2015.

However, the situation is slightly different in Saudi Arabia, where in July, the Shura Council stated that expats are not allowed to buy property in Makkah, Madina, or Riyadh. According to Saudi Gazette, the decision covers non-Saudis, non-Saudi companies, and Saudi companies that have foreign shareholders.

Meanwhile, real estate owners in Oman have also called on the government to revisit its investment laws and procedures, Times of Oman reported in April. GCC neighbour Qatar is also witnessing price reductions in its rental market due to heightened expat outflow, DTZ reported in its Q2 2016 Qatar Real Estate Market study this July.

In this context, the timing of Cityscape Global 2016 is opportune indeed. As regional property markets strive to achieve profitability, such events present an ideal setting for industry leaders to shape the future of real estate in the Middle East.

CITYSCAPE GLOBAL 2016 – EVENT DETAILS

Tom Rhodes, exhibition director of Cityscape Global, says the UAE’s property market is currently ripe for long-term investments.

“There are signs of market conditions bottoming out, and there is a strong sentiment that we will see growth within the property sector in the coming months,” Rhodes tells fmME.

“The GCC and greater MENA regions are also affected by a series of socio-economic factors which have an impact on the property markets.

“For many buyers, this is the right time to invest, a sentiment which has been reflected in an increase of advance registrations to attend the show.”

When: 6-8 September, 2016
Where: Dubai World Trade Centre

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