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The displays are getting bigger and so are the exhibitor and visitor turnouts. But Cityscape Global 2014 also marks the return of another facet that had been missing since 2008 — launch of direct sales by the developers at the event itself.
Dubai Properties has released the residences at its new Dh800 million Dubai Wharf project in Culture Village Dubai Wharf for a special price over the three days of Cityscape. Prices will start from Dh1.1 million, deemed as ''special rates'' compared to what it would be once the formal release starts.
Another developer is also going in for limited releases at the event — New World Development with its ''Marwa'' branded residences in Meydan and Jumeirah Village.
''During Cityscape we are offering an exclusive price of Dh3.1 million, which is a reduction by 10 per cent over the official pricing,'' said a spokesperson with the developer. ''We are also offering a chance to win a BMW.''
''There were a few reasons we decided to launch Marwa Homes during Cityscape. We wanted to make the most of the opportunity and also wanted to offer something to buyers that were tangible. The handover of the Marwa Homes 1 is in December, 3 months from now, which makes the property a lot more desirable.''
The market will be watching developments closely. ''One of the most interesting things will be the price points and target markets that these launches are aiming at — we continue to see most activity at the mid-price range with a focus on genuine owner-occupiers rather than investors or speculators,'' said Simon Townsend, Business Development Manager at DTZ, the consultancy.
''We believe many developers have been spending considering resources analysing the service delivery that needs to accompany a project. It would not be a surprise if many of the projects being launched not only have a focus on end-users from a pricing and payment term view but also on the ''added lifestyle benefits''.
''Having said that, Cityscape does have an effect [as has been proved in many past instances] of defying market norms. And so I wouldn’t be surprised if several high-end projects were successfully launched going against the latest demand trends.''
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Source: Manoj Nair, Associate Editor, gulfnews.com