Nakheel, Damac and Bloom Properties are among developers showcasing projects at this year’s exhibition
The 2015 edition of Cityscape Global kicked off today at the Dubai World Trade Centre, with a series of announcements from property developers in the UAE and wider Middle East.
Dubai’s Nakheel Properties announced the opening of Jebel Ali Gardens, a new community that will provide accommodation for more than 40,000 people. The new master developed project will comprise nearly 10,000 apartments in 42 buildings. Apartments range from one to three bedrooms, and each building will also have ground floor retail space.
The project is set on a 5.5 million square foot (510,967sqm) site with a built-up area of more than 19 million sqf (1.76 million sqm). It is set to provide “quality, affordable accommodation and convenient community facilities” to residents, the developer said.
In a separate announcement, Nakheel said it would also be unveiling the Palm Promenade at Cityscape. The project will see the entire trunk of its Palm Jumeirah development converted into a walkable beach, park, retail and café complex, stretching over 1.5km.
Dubai’s Damac Properties announced the launch of the world’s first Bugatti–styled homes to be located at its Akoya Oxygen development. The ETTORE 971 Bugatti Styled Villas are seven-bedroom units conceptualised by the designers of the 1,200hp Bugatti Veyron, the world’s fastest street-legal production car. Prices will be in the region of AED36 million ($10m), Damac said.
Also exhibiting this year is Abu Dhabi-based Bloom Properties, which announced its latest project Soho Square, a mixed-use urban development on Saadiyat Island. Set to take shape next to the New York University Abu Dhabi campus on the island, the G+10 development will feature 302 residential units upon completion, ranging from studio to three-bedroom apartments, townhouses and penthouse.
The Northern Emirates will also be represented at Cityscape, with Diamonds International Corporation, a Czech diamond-trading company, announcing a new AED500 million ($136.1m) mixed-use development on Ras Al Khaimah’s man-made Al Marjan Island. The project will include a 300-room 5-star hotel, and 340 residential units featuring one-, two- and three-bedroom apartments. Construction of the project is slated to begin in early 2016 and will be completed in three years.
Now in its 14th edition, Cityscape Global 2015 has attracted over 300 international and regional exhibitors, who will be showcasing projects and services on 40,000sqm of exhibition space. In 2014, the event saw exhibitor participation grow by 25%, totalling 282 exhibitors from 27 countries. There was also a 42% increase in participants, amounting to 47,082 last year.