Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Jordan condemns Israeli PM remarks on 'Greater Israel'    Egypt's Supreme Energy Council reviews power supply plans for 14 industrial projects    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egyptian pound closes high vs. USD on Tuesday – CBE    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Real Estate Recovery Anticipated For UAE As Cityscape Kicks Off By April
Published in Amwal Al Ghad on 21 - 02 - 2013

While the UAE real estate market still faces a challenging scenario of oversupply; C there is room for tentative optimism.
According to lan Robertson, CEO, Jones Lang LaSalle MENA, "The foundations are being laid for a recovery from 2014, with a number of major infrastructure projects scheduled to start later this year. We also expect the real-estate in both Abu Dhabi and Dubai to benefit from increased economic activity between the UAE and East Asia, specifically China and South Korea, as well as sub Saharan Africa and Australia."
Real estate advisory firm Jones Lang LaSalle's Q4 2012 Dubai Real-Estate Overview reported promising signs of recovery from the end of last year in Abu Dhabi and Dubai, with upward prices in the residential, retail and hotel sectors. These were coupled with stimulus packages, as well as UAE Central Bank mortgage loan-to-value caps to curb market fluctuations.
According to the latest figures from Ventures ONSITE, the UAE has a value of projects planned, under tender, under construction or on hold, of $900,953m. Likewise, project values for the Kingdom of Saudi Arabia are $673,490m, Qatar $108,063m and Kuwait $142,924m.This positive outlook sets the platform for Cityscape Abu Dhabi and ecoConstruct Expo 2013 - held concurrently over three days from 16 -18 April at Abu Dhabi National Exhibition Centre.
Already established as one of the world's leading business-to-business real-estate events, Cityscape's portfolio of exhibitions, conferences, round tables, seminars, and business breakfast events brings together key industry decision makers, international investors, developers, architects, designers and consultants.
ecoConstruct Expo, hosted alongside Cityscape Abu Dhabi, provides an opportunity for the region's consultants, contractors and architects to source sustainable building/construction solutions, and is a platform for local and international suppliers to showcase their eco-friendly building and infrastructure products which also reduce costs, increase output and raise overall building efficiency.
Sustainability is gaining pace within the construction industry in 2013, continuing from 2012, with Abu Dhabi taking the lead. According to recent reports, developers across the region are turning their attention to the impact of sustainability and green construction concepts on their profits and cost savings targets. Energy audits have shown that energy bills can be reduced by up to 20% through good design and the use of sustainable materials.
Meanwhile, the industry as a whole is realising that the lifecycle costs of these buildings can be reduced with minimal cost measures and a payback period of just 12 to 18 months. As such, 2013 is set to be a year of massive growth in the green building market - not least for developers looking to ensure the longevity of their assets.
Adnan Sharafi, Emirates Green Building Council (Emirates/GBC) Chairman explained, "The construction industry in the region is witnessing robust growth, and emerging from the challenges faced in the last few years, the sector now has a renewed focus on sustainability and quality. Industry stakeholders seek materials and processes that will not only help optimise resource use efficiency, but also contribute to cost and energy savings in the long run. Through our participation at Cityscape Abu Dhabi and ecoConstruct Expo 2013, Emirates Green Building Council is underlining its commitment to promoting best practices in sustainability in the built environment, in line with the green vision for the UAE."
As steady growth is being witnessed within the industry, this focus on preservation and quality will benefit everyone from the Developer to the end-user.
"Being the region's leading event focusing on green sustainability, ecoConstruct Expo has a crucial role to play in what is an ever-increasing priority for the building industry," offered Chris Speller, Commercial Director, Informa. "Together with Cityscape Abu Dhabi, the Expo is perfectly aligned to provide a holistic view of one of the region's key economic sectors," he added.
Both events are supported by Abu Dhabi Chamber of Commerce and Industry (ADCCI) as a Strategic Partner while Emirates Steel is ecoConstruct Expo's Principal Sponsor.


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