This month saw Abu Dhabi's first major real estate show - The Cityscape Abu Dhabi. Being ever so curious to see what the big brother is doing, and finally having a reason to go to Abu Dhabi for the first time in 2 years, I drove up to the new ADNEC to see what it was all about.
I was disappointed. Blame it on the fact that maybe I was blown away by the OTT ATM Dubai stands or perhaps that I just expect a little too much for a first attempt but there was something lacking in Cscape AD.
Ofcourse, there were the impressive Frank Gehry's Guggenheim, Jean Nouvel's Louvre, Zaha Hadid's Performing Arts Centre and Tadao Ando's Maritime Museum. The Desert Island seemed inviting and so did the other REAL island projects, a great initiative by the leadership of AD to make this city a modern architectural wonder. According to Cityscape Abu Dhabi's press release "projects worth US$ 400 Billion were on Show at Cityscape Abu Dhabi"
$400 Billion!?! That figure is supposed to pack a punch so hard to anyone visiting Cityscape AD that one would walk out dazzled eyed with a moronic look of amazement.
But no, that didnt happen to me. Cityscape Abu Dhabi was just a property show with a few stands. I spoke to Jones Lang LaSelle there and asked them how was business and they almost laughed. One of their representatives said they were inundated with sales offers - to them.
On my 2 hour drive back to Dubai with the desert (which may one day be all buildings) on both sides I thought what did this exhibition lack? What does Abu Dhabi lack which Dubai has. And then it dawned - it was the "oomph" factor. Dubai knows how to infuse glamour with real estate and has done it really well. It was also competition. In Dubai a private expatriate developer can feel he/she can make as big and better of a stand than Dubai's state owned developers.
Dubai thrives on competition whereas in AD there is no competition. They probably say they dont need it but competition is what drives innovation and creativity.
In my two hours at Cityscape Abu Dhabi it was quite obvious that they are in no hurry to sell. Cash flow was obviously not a concern. But if Abu Dhabi wants to razzle and dazzle it needs to find its "oomph", wherever and whatever that may be.
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15 comments:
Hi Debbie
I worked as a promoter for both ATM Dubai and at AD Cityscap, and I cant agree with you more!
Whereas I actually enjoyed and talking to people from all over at ATM Dubai, Cityscape AD just didnt seem to attract anyone except exhibitors or vendors trying to sell stuff to the company i was representing.
I know Im probably not comparing apples to apples here, ATM being a travel and trade show, but the quality of stands has to improve.
Although, I must say TDIC did a fair bit of advertising. All that said, looking at what's planned for AD, I think its going to be a fabulous city to live in in the years to come!
Here here! Whatever happened to the old Abu Dhabi v Dubai competition??
You know, I'm pretty fed up with exhibitions for exhibitors. What a waste of time exhibiting to your fellow exhibitors - just to be seen to be seen at a show!
Can't help feeling that the Dubai event in October is going to have much more to say - together with that elusive Ooomph!!!
Sure wish I could afford to sit on all that inventory!
Hello Debbie,
All I can say is that if it's the same marketing team for the AD venture there needs to be an intervention. They've lost it!
I've been to so many of these shows now, we come to expect expect growth and improvement, saw non of that at ADNEC. In fact this was a retrograde step in my humble opinion.
Can someone tell me whats selling better these days for a flip? AD properties or Dubai?
Dubai has the momentum going... i'd be more confident flipping in that market for the time being.
www.dubaibuy.info can hook you up.
The other day I went into the offices of Surouh, the Abu Dhabi developer.
It was like a KG classroom there!
No one could attend me and my multi million investor and finally I came across this bald character (i think his name was Esam or Emad) who told me to contact customer service! My investor wanted to build a tower with Surouh!
Abu Dhabi's customer service SUCKS!
Abu-Dubai-Abu-Dubai-Abu-Dubai..
Ohh..!
I heared that the City landscape, only 8 years ago was all just flat. Now it already looks like Seattle!
My sources tell me Cityscape Dubai will be dazzling this year.
Hope it doesnt get over the top!
Next thing they will start selling real estate on the display models!
I almost feel like saying, "Abu Dhabi I Told You So!"
Research by the Deutsche Bank has shown property sales in Abu Dhabi are lagging some way behind those in Dubai, reported the Khaleej Times. The bank looked at the number of sales at Aldar Properties' four launches since 2005 and found that, on average, they were 60% sold out. Deutsche Bank cited limited opportunities for expatriate buyers, 'primitive' regulations and the absence of Dubai's mass appeal as key factors.
Only if Abu Dhabi and Dubai could be connected then Dubai would be even cooler!Because Abu Dhabi is so boring and Dubai is so exciting.
I think Adu Dhabi and Dubai should connect too!
Then the grand city would be called Abu Dhubai.
Right?
Hi Debbie,
I'm working on a project about promoting Abu Dhabi.
Your Blog is very interesting because I'm trying to get a feel of what are the main differences between Dubai and Abu Dhabi !
Do you know where I can find that Deutsche Bank report about property sales you mentioned?
Thanks ;)
Sabrina
Hi Sabrina,
Please email me at email@dubaibuy.info so I can point you in the right direction.
Regards
Debbie!
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