Cityscape Abu Dhabi 2009 Opens

Cityscape Abu Dhabi brings in a slew of all international and regional investors, government authorities and real estate developers together under one roof. This is one of the important events in the UAE and it opened in Abu Dhabi on Sunday at the Abu Dhabi National Exhibition Centre. People from these domains are gathered in order to discuss the current market challenges and they try and formulate new ways to deal with them. More than 40 companies are participating in this international exhibition. Shaikh Mohammad went around the exhibition and he was explained the real estate developments by the exhibitors.

This event lasts for 4 days and was opened by the Crown Prince of Abu Dhabi General Shaikh Mohammad Bin Zayed Al Nahyan and Deputy Supreme Commander of the UAE Armed Forces. Aldar Properties is the largest property developer by market capitalization in Abu Dhabi. Its senior executive, Ousama Ghannoum told Gulf News: “It's a forum where we are going to meet potential investors, partners and buyers for our residential and commercial projects.” He further added that there are various banks and other financial institutions which are offering loans to prospective buyers which are showing great buying interest for various Abu Dhabi property developments and the emirate.

Another executive from Sorouh Real Estate said: “Some of the developers are offering affordable housing for all levels of income, this is an important development, as earlier, we were only seeing announcements about high-end property developments.” The Managing Dircetor of Ascon Group said that the cityscape Abu Dhabi 2009 will surely boost the consumer’s confidence as far as the real estate sector is concerned. Moreover, the emirate carries the largest sovereign wealth fund in the world and long term plans are being formulated for infrastructure and other real estate developments.

National Projects & Construction Expands Real Estate Project Portfolio

The National Projects & construction is one of the leading construction and real estate companies in Abu Dhabi. The company has recently moved its headquarters to Musaffah which is a part of its corporate expansion plans. In the year 2008, the company was in the league of one of the leading construction companies in Abu Dhabi. As far as Abu Dhabi real estate is concerned, NPC was a part of the growth and expansion of the real estate sector thus, the company also entered into expertise sharing partnerships and strategy for growth along with other international companies which are the leaders in handling various mega projects.

The National projects & construction company is currently employed on various real estate projects which are worth Dh4.5 Billion. Apart from this, they have won major prestigious construction contracts from some well known property developers. The Chairman, NPC, Salem Al Neyadi said: “NPC has come a long way since its inception in 2003 and over the years has graduated from handling small scale projects to some of the most iconic projects in Abu Dhabi. The opening of the new headquarters represents an important milestone in the growth and evolution of the company and comes at a time of robust growth for us.”

As far as the real estate developers from which NPC has got construction contracts are: Reem Investments, Royal Group and International Capital Trading, Reem properties, Hydra properties, Tamouh, Al Qudra and Sorouh real estate companies. There are some iconic Abu Dhabi developments which are under NPC’s project portfolio which includes Marina Square, The Nation Towers, Danet Abu Dhabi and Danet Holiday Inn Hotel which was recently handed over to the company.