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Why Cityscape 2009 was boring

Why Cityscape 2009 was boring

The event this year was subdued and most of the stands looked empty. Kipp went scouting through the exhibition to see what the few visitors were looking at.

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October 8, 2009 3:44 by



Empty, quiet and a little depressing. The stands at Cityscape Dubai this year were smaller and less glamorous, and certainly attracted a very limited number of visitors. However, considering the adverse effects of the global financial crisis on Dubai’s property market, Kipp wasn’t surprised.

Cityscape Dubai 2008 took place just days after Lehman Brothers collapsed, which marked the beginning of the global crisis. Since the exhibition last year, numerous projects in Dubai have been cancelled or suspended; hundreds of real estate employees have been laid off; and investors have almost vanished.

“It’s not the same as it was last year,” said one of the attendees. “Visitors have almost halved.” He was probably right.

Rohan Marwaha, the managing director of Cityscape, said he was hoping that the four-day show will attract 38,000 visitors, about half the number from 2008, reported Reuters on Wednesday.

The size of the exhibition was also reduced drastically. “Last year everyone was rubbing shoulders, but this year it just feels more spaced out,” said one of the reporters covering the event.



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1 Comment

  1. rb on October 13, 2009 12:23 pm

    IN APRIL /MAY THIS YEAR RERA HAD ANNOUNCED THAT 27 PROJECTS HAVE BEEN CANCELLED IN UAE & SUBSEQUENT TO THIS A LIST APPEARED IN THE PRESS. SOURCE OF THIS LIST WAS UNKNOWN & PERHAPS THE ‘UNOFFICIAL ‘ ONE.

    RERA HAS YET TO RELEASE TEH LIST OFFICIALLY. WHAT WAS ALSO ANNOUNCED THAT INVESTORS IN THESE CANCELLED PROJECTS WILL GET A ‘ FULL ‘ REFUND .

    REQUEST KIPP TO LOOK INTO THIS IN THE WIDER INTEREST OF INVESTORS.

     

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