Sheikh Maktoum opened Cityscape Global at the Dubai World Trade Centre

Sheikh Maktoum opened Cityscape Global at the Dubai World Trade Centre

DWC active at Cityscape

01 November 2013

DUBAI World Central (DWC), the world’s first purpose-built aerotropolis, showcased its real estate investment opportunities for investors from around the world during its participation in Cityscape Global at the Dubai World Trade Centre.

Numerous opportunities exist in the residential, logistics and aviation districts, given the rapid pace of developments taking place in these areas, DWC said. The residential district for instance is already being served with all major services and DWC has constructed and commissioned 132/11kV electrical substations which have been handed over to Dubai Electricity and Water Authority (Dewa) for final connections to tenants. Dewa has started laying final distribution cables to supply power to buildings and is proceeding with providing water supply to completed buildings in the residential district. DWC has also constructed and commissioned district cooling plants to supply chilled water for air-conditioning in the buildings.

The logistics district is also seeing the development of agent warehouses spread across an area of almost 8,700 sq m, in addition to the logistics park, comprising its own warehouses, offices and amenities. Currently, there are 40 companies operating in the logistics district with more than 10,000 employees, creating the need for innovative and comprehensive solutions for staff accommodation.

Another key real estate element highlighted at Cityscape Global was the hospitality projects, which will cater to the requirements of airport passengers. Cityscape Global served as the right platform for DWC to promote the aerotropolis concept and underline its importance as a major development model of this century.

Dubai developer Nakheel announced it will restart work on part of one of the three palm-shaped islands that came to symbolise the excesses of the emirate’s boom years. Nakheel, which was taken over by the government as part of a $16 billion rescue plan completed in 2011, will change the manmade island group’s name to Deira Island from Palm Deira, chairman Ali Rashid Lootah said.

Al Qadi: RAK projects ‘magnificent’

Deira Island will have about 1,400 retail units and restaurants including a night market, plus a 250-room hotel, a 30,000 capacity amphitheatre and other attractions.

RAK Properties, Ras Al Khaimah’s biggest property developer listed on Abu Dhabi Stock Exchange, announced the expansion of Mina Al Arab by unveiling two new flagship projects at Cityscape Global. The projects offer 104 waterfront villas and two 20-storey building overlooking the Arabian Gulf and the Mina Al Arab Lagoon with an investment of approximately Dh400 million ($108 million).

Mohamed Sultan Al Qadi, managing director and CEO of RAK Properties, said: “We are very excited about launching these magnificent projects at Cityscape Global 2013. This will boost further RAK Properties’ frontline position in real estate development not only in the Northern Emirates but also in the Gulf. The projects will follow the same high quality standards seen in our earlier projects.”

Dubai International Financial Centre (DIFC) presented its master plan at Cityscape Global. DIFC’s expansion will cost Dh15 billion. Of the total 25 million sq ft of development, only 15 million sq ft has been completed and DIFC is inviting proposals from top developers and investors to develop the remaining portion.

The 12th edition of Cityscape Global was opened by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.

Wouter Molman, exhibition director of Cityscape Global, said: “Cityscape Global has grown substantially for the second year in a row, having sold out exhibition space six weeks ahead of the opening day.  This mirrors the Dubai property market sentiment which has started to gain momentum since early 2012. The 2013 edition attracted 223 regional and international exhibitors, covering six exhibition halls and 25,000 sq m of space.”

The 2013 edition of Cityscape Global ran alongside three dedicated industry conference programmes, the Global Real Estate Summit, Future Cities and the Mena Mortgage and Affordable Housing Congress. Now in its 12th year, Cityscape Global is organised by Informa Exhibitions and supported by Dubai Land Department.

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