Cityscape reflects boom

This year's Cityscape was a complete success on many different levels.

Organisers and exhibitors must have been pushed to the limit when the announcement was made that the exhibition would run for an extra day. But their time and effort proved worthwhile as the increase in visitors smashed all previous attendance records.

I witnessed numerous developers from around the region showcasing sophisticated renderings of future cities that dangled the promise of a luxurious lifestyle to those who could afford to make the dream a reality.

Buyers wanting to snatch up the latest lucrative investments appeared in abundance and I stood and watched as some queued around corners making deals with those lucky enough to be further up the line.

Developers launched entire projects and buyers ensured they were sold out within days. Exhibition halls were bustling and the overall sentiment and pace of business was fast and upbeat.

This event was of course also great for the capital city of Abu Dhabi. Hotels were inundated with visitors looking for rooms for the extra night. No doubt this globally-renowned exhibition contributed to the city's growing economy.

Interest in the numerous plans and models of future developments due to decorate the city's coastline were also shown off with keen investors eyeing the projects that could see the city compete with Dubai in the not-so-distant future.

Above all, the message the successful event sends out is that the region's property market is booming. There is no doubt this Middle East market is going from strength to strength as it continues to thrive while investors reap rewards.

For how long? We can only speculate...but for now, investment in this sector is strong and before next year's exhibition kicks off let's hope ground is broken in many of the projects launched last month.

Kim Latham is the editor of Arabian Property English.

RELATED LINK: Cityscape Abu Dhabi smashes records

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