Cityscape Dubai

The biggest names in the region all converged on the 4 day property fest that was this years Cityscape. In its 7th year, Cityscape Dubai is now billed as the largest business to business real estate event in the world, as I am sure those who attended the event would happily testify! With so much going on here, you could be forgiven for forgetting that the world is currently in the midst of a financial crisis. Certainly from the looks of things, not many people at this year’s event have noticed such was the popularity of the event, and especially with all the mega money projects on display. With a huge range of property investors, interior designers on top of all the property developers, this years Cityscape was arguably the biggest and the best yet. Perhaps a little surprising given the world economy and the headlines Dubai property has been generating of late. All Dubai hotel`s are sure to be fully booked this week so if you need a place to stay book early and expect high room rates!

So what`s the deal? Property Dubai still looks set to remain strong despite all that it going on around in the world. After all Dubai has always excelled at being a bit different. The Dubai real estate market is proving increasingly resistant to the current finical market, and mood amongst those at Cityscape certainly seemed to be one of optimism. And if Dubai property giant Nakheel is worried, they certainly aren’t letting on about it!  When one tends to launch a $38 billion, you generally assume they must be pretty confident. And this is exactly what Nakheel plan to bring to the market with its 1 kilometer tall tower! This is one tower that could potentially dwarf the world’s current tallest building, the Burj Dubai which is just coming towards completion in Dubai.

And all this comes right on the back of Dubai properties unveiling that is has started to sell units in its Mudon project. The $11 project located in Dubailand, will house 50,000 residents, and cover some 678 acres. The first phase of what will be a 6 phase project, looks set for completion around 2009. Dubai property therefore is clearly just getting along with things. The market has continued to show impressive growth this year, and so many great freehold property projects to come, the future certainly looks bright despite the apparent gloom.    
 

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