Dubai back on its feet?

The regional property market is eagerly anticipating the Cityscape Global (formerly Cityscape Dubai) real estate fair, due to take place from 2-4 October. The real issue at stake is whether recent promises of resurging real estate values in Dubai will allow the trade show to reconnect to the vibrant mood that saw the fair expand rapidly from its inception in 2002 until the 2008 financial crash. After disappointing during the 2009 and 2010 crisis years and showing cautious optimism in 2011, Cityscape Global this year has been preceded by a flurry of project deliveries in Dubai and Abu Dhabi as well as new project announcements by major UAE-based developers. The fair this year features Turkey as the “2012 Country of Honor,” meaning panel discussions and investor roundtables will focus on real estate development in the country, and it also has the largest international pavilion at this year’s show. Other focal