By Elsa Baxter
Official figures only due next week, only 1.1% think it will be as successful as last year.
Almost 70 percent of respondents to an Arabian Business poll said they thought this week’s Cityscape Dubai would be a “total flop”.
Only 1.1 percent of people said the real estate exhibition would be as successful as last year, while just 4.3 percent said it would be the biggest show yet.
Organisers were not able to say how many visitors the show has had. Official figures are due to be released next week, they said on Thursday.
The majority of people who took part in the online poll, 68.6 percent, said this year’s Cityscape Dubai would be a failure because of the effects the global economic crisis has had on the emirate’s property market.
Some 400 projects worth more than $300bn have been postponed or cancelled in the UAE, according to a report by the research firm Proleads in July.
According to a recent Reuters poll, property prices in the emirate are seen falling 50 percent in 2009 from their peaks late last year. Experts told the news agency prices could drop by a total of 60 percent by 2010.
Twenty six percent of respondents to the AB poll said Cityscape was a good barometer of the property market, so people would attend to keep themselves informed.
Arabian Business reporters on the first day of the show found it to be more subdued than previous years. Gone were the celebrities and the huge multi-billion dollar launches, replaced instead with developers focused on the delivery of their existing projects.
Just showing up at Cityscape showed the participants have a backbone, because fairweather friends are worthless. Next year will be different, and this rather unscientific and simplistic polling doesn't do justice to the effort that people have put into this years bunfest.
The recent Citiscape 09 was the biggest test to the UAE real estate market and the results are FACTS: 1- Yes, there was an interest and Citiscape was a Relatively good exhibition by our regional standards 2- It's not true at all that it was a ghost town. Any visitor with good eyes could have seen a certain crowd. 3- Yes, it was not at all comparable to last year's edition that was just craziness. Considering last year's edition as an average would be a complete craziness. 4- I invite the organizers to release the accurate numbers. I visited yesterday (3rd day) and i can confirm that there were many people although less than last year (can not predict how many less but i would say anything between 40-50% less). 5- If it's 50% less than last year's, Citiscape 09 would have been a fair success (passed the test with a solid C - not at all F as people wish). 6- The biggest lesson we learn from CS 09 is that the UAE real estate market still exists and that there is a certain potential for revival (not at all to the crazy 07-08 levels though). This would lay the ground to a logical correction to the market that permits future activities. 7- Another lesson to everybody in the entire world (the biggest proof ever) - Dubai will NOT vanish and is here to stay! This will be reconfirmed very soon with the inauguration of the world's tallest tower ever, Burj Dubai on Dec. 2nd. 8- Another lesson to Dubai: You can not build an economy on real estate: It could be a support but not all a fundamental to a real economy. This is my humble opinion based on what my eyes saw yesterday! Again, i would give it a C and not at all an F
Oh Omar, you're such a lame duck. A trade show is not measured by participants but but TRADE... How many sales were done or new projects were released at the latest Citiscape? And of course Dubai will remain on the map. The question is with which reputation. I really hope they cut the internet line in the retarded home very soon...
Omar, Omar, Omar, how much were you paid for this one??
Just a note on te Dubai Propaganda machine: "Organisers were not able to say how many visitors the show has had. Official figures are due to be released next week, they said on Thursday" ...last year I seem to recall reports on a daily basis about record breaking daily numbers etc Did the organisers lose the ability to count this year? I suppose this is an unfair comment, given we know the reasons the organisers have forgotten how to count...
City scape is a failure ofcourse, official fiqures say 50% drop in traffic, I wud say 70% drop. There are more stall promoters than genuine buyers. Only people I saw were Brochure and gift Collectors[Time pass people]. Now wake up and build fundamentally strong industries and not REAL ESTATE
I think they should not hold the show.. until the visa policies are decided and anyway UAE has lost the creditability - as they can suddenly change laws - Number of people coming to a show does not gauge the success of the show - it depend on the trade conducted and not just enquiries (old saying that enquiries can be converted to business)