(MENAFNEditorial) Mixed-use projects are leading the way at Cityscape Abu Dhabi, as developers identify community living areas as the most profitable long term real estate offerings for Middle East investors.
With JLL revealing in their annual quarterly report that 1,700 residential units were built in Abu Dhabi so far in 2014, the upbeat sentiment of the property market is reflected as thousands of visitors fill the Abu Dhabi National Exhibition Centre (ADNEC) in search of investment opportunities.
Held under the patronage of H.H. General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi Deputy Supreme Commander of the UAE Armed Forces, the three day event, taking place until Thursday 24 April, is the UAE capital's largest and most influential property investment showcase.
Among the exhibitors capitalising on the surge in investors at Cityscape Abu Dhabi is Hydra Properties, who is pre-releasing several units from its Hydra Avenue Phase II on Reem Island and offering buyers a special 60-40 per cent construction linked payment plan.
Mohamad Al Habech, Chief Commercial Officer of Abu Dhabi based Hydra Properties believes differentiation is key to having a competitive advantage over other developers as live, work and play developments are the sustainable communities of the future.
"We understand that real estate development is more than just building houses, it is about building communities and therefore we try to differentiate ourselves by being a comfortable living developer," he said.
"Hydra Properties strives to be the "All-In-Living" developer where you can work, live and play. Amenities such as gyms and swimming pools, children's playgrounds complemented by social rooms and a running track define comfortable living and establish our projects as desirable for both investors and end users alike.
"We aim is to create a more enjoyable urban lifestyle. In order for us to succeed we must remove the boundaries of only putting buildings and houses in place and must start thinking on how to build communities which highlight social interaction; this is really what differentiates us."
With more than 120 regional and international exhibitors taking part in the event, the eighth edition of Cityscape Abu Dhabi provides the perfect platform for dozens of leading property developers to announce and promote their latest projects.
Baniyas Investment and Development Company (BIDC) is showcasing their flagship project, Bawabat Al Sharq which brings the very latest standards in mixed-use community development to the UAE capital.
Wael El Ashry, Commercial Vice President of BIDC said: "Bawabat Al Sharq is one of the path-breaking projects being developed by BIDC in Abu Dhabi. The three billion dirham master community is the first luxury mixed-use development of its kind.
"With the improvement of rental yields in Abu Dhabi coupled with growing demand in the market, BIDC is in a good position to enter the rental market in 2014 with a variety of brand new apartments for rent in a community which is quickly becoming a benchmark in mixed-use development in the Emirate of Abu Dhabi."
Hosted in association with the Abu Dhabi Urban Planning Council and sponsored by Pasco, a key highlight of this year's event is Sandscape, which sees local and international artists recreating Abu Dhabi's iconic buildings out of sand.
Etihad Towers, one of the first mixed-use developments to be built in Abu Dhabi, is featured in the sand sculpture. Richard Foulds, Head of Property Management at Etihad Towers said: "Changing the Abu Dhabi skyline forever, the towers offer the most amazing vantage points – with sweeping panoramic views over the vibrant city and Arabian Sea – an inspirational, prestigious and desirable landmark in the city.
"As Etihad Towers' modern design further supports Abu Dhabi's vision of becoming a cosmopolitan metropolis it is vital to be included in the sand sculpture as the development reflects the vision of His Highness Sheikh Suroor bin Mohamed Al Nahyan."
Other exhibitors supporting the UAE capital's most influential real estate event on an official basis include Strategic Partner Department of Municipal Affairs; Headline and Official VIP Sponsor Ejadah Asset Management Group; Platinum Sponsor Emirates Steel and Official Mortgage Provider Abu Dhabi Finance.
Cityscape Abu Dhabi is co-located with Piscine Middle East, a dedicated event for the swimming pool and spa industry. Opening hours are from 10:00am-7:00pm daily. For more information, go to www.cityscapeabudhabi.com.
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