Sentiments at the Cityscape Global Dubai

Finally some positive energy and positive sentiments in the property market however, mostly it was the developers and some agent who were very pumped.
Otherwise a large number of Investors and buyers are still very sckeptical about the market specially the new launches. Re-launches of some of the projects from 2008 for eg: The Pad and cube by Omniyat also brought back unpleasant memories. Omniyat hardly delivered anything unlike Damac or Deyaar when it comes to private brands. Flashy stands with beautiful models didn’t really help them gain any traction whatsoever. Buyers want to see results and they saw that with other developers.
Alot of hype was given to this event but the turnout was quite low according to some of the agents.
Expo 2020 is the new buzzword in the city, but fact of the matter is it will be very difficult to maintain the momentum until then.
Increment in transfer fees to 4% of the property value have also hurt the market.
But that didn’t stop a large number of buyers to still show strong interest in ready properties, they dont mind paying more but atleast they can see something physical.

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7 thoughts on “Sentiments at the Cityscape Global Dubai

  1. Hi Imran

    I am the marketing director for the Cityscape events globally. Many thanks for attending the event and taking the time to share your thoughts.

    In response to the comment from some of the agents who said the turnout was low – I would like to inform you that we are currently compiling our post show figures however I can confidently say that the exhibition was the busiest since 2008 and we expect to have a confirmed participation of over 32,500 once this process is complete.

    I would also like to draw your attention to a Press Release issued by Knight Knox where they stated that Cityscape Global 2013 was “one of the busiest overseas exhibitions Knight Knox International have ever attended.”

    We look forward to welcoming to our other Cityscape events.

    Kind regards
    Ian O’Malley

    • Hi Ian,

      Thank you for your feedback.

      No doubt the cityscape 2013 was the busiest since 2008 but let me remined you that it was after Cityscape 2008 that the recession happened. So basically you are comparing this years cityscape with the cityscapes during recession. And besides, the number of visitors does not measure buyer confidence in the market or the interest of people to invest.

      As for the Knight Knox Press release, they found it one of the busiest because again they are comparing with the countries which are still going through alot of financial issues where as Gulf is relatively better in that regards.

      Once again thank you for taking interest in my blog.

      Kind Regards
      Imran Hashim

  2. Well written, Imran, especially after having experienced 2008-2009. Strongly agree on the number vs.investment confidence point. These days more contries offer real estate to foreign investors being probably less buzzy or totally mute in terms of events & exhibitions but selling 100% prior to acceptance tests.

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