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Discuss this article (20 Comments)Nakheel, Emaar u-turn on Cityscape Dubai
by This email address is being protected from spam bots, you need Javascript enabled to view it on Saturday, 19 September 2009
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State-owned master developer Nakheel on Saturday said it would participate in Cityscape Dubai after all, a decision taken following tals with the event organisers.
The company, the developer of iconic projects, like the Palm Jumeirah and The World, said in a statement sent to Arabian Business that the decision was made "following discussions with various industry stakeholders, including partners and the leading event’s organisers".
Its announcement was followed by a similar change of mind from Emaar Properties which said its decision "follows discussions with the various agencies involved in organising the event", it was reported by Zawya Dow Jones newswire.
Both Nakheel and Emaar had said on Thursday that they would not be taking part in Dubai's premier property show.
But Nakheel's statement on Saturday added that it would focus on "exhibiting communal properties on several of its developments that are close to completion".
Nakheel said it had recently completed the handover of 33 islands on The World and is scheduled to complete property handovers on a number of other developments in its portfolio.
The company is also gearing up for the inaugural Dubai World Championship golf tournament at Jumeirah Golf Estates in November.
A Nakheel spokesperson added the company was expecting "a very active last quarter 2009" and was focusing on delivering units and services to existing investors and residents, without giving further details.
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
Jessica
Posted by Rashed, Dubai, UAE on Wednesday 23 September 2009 at 12:40 UAE time
Jessica you nailed it.
Posted by Rashed, Dubai, UAE on Wednesday 23 September 2009 at 12:40 UAE time
Jessica you nailed it.
U Turn?
Posted by Jessica on Wednesday 23 September 2009 at 08:41 UAE time
Interesting game this - the organisers need the big two to participate, the big two are (quite rightly) focusing on delivering projects rather than advertising - and so, they reach an impasse. So the developers go public with their decision; the organisers get a mountain of flack from existing participants and attendees; secret talks; and hey bingo, a U Turn is achieved. I guess free space or even finanical 'encouragement' does make the difference!
Nice to see the balance of power going back to the industry rather than the event organisers who have fed off it success for years!!!
Posted by Jessica on Wednesday 23 September 2009 at 08:41 UAE time
Interesting game this - the organisers need the big two to participate, the big two are (quite rightly) focusing on delivering projects rather than advertising - and so, they reach an impasse. So the developers go public with their decision; the organisers get a mountain of flack from existing participants and attendees; secret talks; and hey bingo, a U Turn is achieved. I guess free space or even finanical 'encouragement' does make the difference!
Nice to see the balance of power going back to the industry rather than the event organisers who have fed off it success for years!!!
very simple
Posted by Thunderbolt on Tuesday 22 September 2009 at 19:09 UAE time
their decisions have an impact on the price per share which in this case with a uturned decision will only have a positive impact, good call only implying support and resiliance.
Posted by Thunderbolt on Tuesday 22 September 2009 at 19:09 UAE time
their decisions have an impact on the price per share which in this case with a uturned decision will only have a positive impact, good call only implying support and resiliance.
Focus on what’s important
Posted by Rashed, Dubai, UAE on Tuesday 22 September 2009 at 13:56 UAE time
I think property developers should focus on what’s important for them like their investors, customers and employees. A developer should have long term strategic approach for growing the business and maintaining it success rather than wasting money in showoff exhibitions. In the old days developers used cityscape as a platform to launch their new project and utilize the media hip around it for their success, that strategy proved successful at that time but now in the worst crisis ever in the country is it wise to participate. I believe these two developers should stick to their guns and refuse any pressure to attend. You will see that their stands this year will be much smaller and less crowded.
Posted by Rashed, Dubai, UAE on Tuesday 22 September 2009 at 13:56 UAE time
I think property developers should focus on what’s important for them like their investors, customers and employees. A developer should have long term strategic approach for growing the business and maintaining it success rather than wasting money in showoff exhibitions. In the old days developers used cityscape as a platform to launch their new project and utilize the media hip around it for their success, that strategy proved successful at that time but now in the worst crisis ever in the country is it wise to participate. I believe these two developers should stick to their guns and refuse any pressure to attend. You will see that their stands this year will be much smaller and less crowded.
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