DUBAI, Oct. 3 (Xinhua) — The ongoing three-day real estate fair and exhibition Cityscape Global did not unveil blockbuster projects, but additions to existing property districts across the United Arab Emirates (UAE).
Imkan Properties from Abu Dhabi, the UAE capital, showcases at this year’s Cityscape which runs until Thursday a new coastal destination called Sahel Al Emarat, located in Ghantoot between Abu Dhabi and Dubai.
The 370-hectare, four billion dollars project spread over 3.4 kilometers at the UAE coast, while construction is set to start in 2019.
Marjan, a master developer based in the emirate of Ras al-Khaima, showcases details of its island Marjan, although the projects have been in place for many years and already contribute to the emirate’s tourism industry.
Dubai’s Meydan Group launched Marsa Meydan on day one of Cityscape, a waterfront residential community in Jebel Ali, not far from Ghantoot.
Dubai Holding, the Dubai government-controlled multi-industries holding launched Madinat Jumeirah Living, an extension of property districts near the renowned seven star hotel Burj Al Arab.
Other developers use Cityscape, the biggest real estate fair of its kind in the Middle East, more as a sales platform.
Danube Properties, owned by Indian tycoon and billionaire Rizwan Sajan, offers special discounts to buyers on 50 ready apartments as well as 200 off-plan units at Cityscape.
Danube’s portfolio exceeded one billion U.S. dollars involving 4,744 units in 11 projects.
According to property research firm BNC, Dubai has 3,668 active real estate projects under construction, while 545 projects remain “on hold.”
All active Dubai projects have a combined value of 126.1 billion U.S. dollars.