The most important Cityscape yet

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Despite a drop in footfall expected at Cityscape this year, organisers still seem positive.

Could this year’s event mark a watershed for the local and global development industry?

Cityscape Dubai is upon us and many across the industry seem unsure of what to expect. As a developer’s shop window to the world, some of the planet’s biggest and most iconic projects have been launched at previous editions, but even the most optimistic of industry drumbeaters would have to concede that these are very difficult times.

“It’s natural that there’ll be a difference as things have changed and that’s reflected in the real estate market,” explains Cityscape group director Chris Speller.

“Lots of companies are no longer around but those that are represent the active, proactive professionals. Companies are still doing business –they’re not fly-by-night.”

In fact, if previous Cityscapes were showy launches of bombastic developments that architects could barely dream up as fast as speculators bought up, then 2009 is where the real work starts, according to Speller.

“The past may have been about sightseers walking about with their shopping bags full of gifts – but now it’s back to business.

“This year’s Cityscape Dubai is going to be a platform built around and for the industry and, with that in mind, we’ve introduced special events, such as the Investor Round Tables, a City Leaders Forum, a CEO networking lunch… architects, investors, developers, government bodies will all be sitting down in semi-formal lunch meetings which will be closed-door – they’re for frank and open discussion, not press coverage.

“We’re developing our relationships back to developers and we think this is the time to discuss how the market has changed, to share major concerns and experiences, both local and global. We’re setting up meetings, making the links, booking the rooms and telling exhibitors to bring guests….we want them to see this Cityscape as an opportunity.”

That’s the organisers’ approach but, in the absence of new launches to announce, are developers equally optimistic about the event?

“We will focus on exhibiting our prime communities that are close to completion,” says a Nakheel spokesperson.

“We have an extremely active fourth quarter ahead of us and our attendance will highlight our commitment to delivering units and services to existing investors and residents.”

For others, attending Cityscape Dubai is simply vital for obtaining answers to the industry’s biggest questions.

“We all want to know when the global crisis will turn into an opportunity. Cityscape Dubai is poised to help us find a solution,” says Tantallon Research president and CEO Jesper Koll.

Deyaar CEO Markus Giebel maintains that, in addition to important discussions, business can still be done at Cityscape.

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