Kuwait gears up for Cityscape launch

city

THE second edition of Cityscape Kuwait, a premier real estate investment and development event, opens its doors tomorrow to more than 70 exhibitors from countries across the region such as Turkey, UAE, Saudi Arabia and Oman in addition to Europe.

Backed by a strong presence of international exhibitors, the three-day event is being held under the patronage of Kuwait’s Prime Minister Sheikh Jaber Al Mubarak Al Hamad Al Sabah at the Kuwait International Fairgrounds.

The event, which will conclude on December 11, is set to feature many new developments including free-to-attend seminars and a family day.

Commenting on the international participation at this year’s event, Deep Marwaha, group director of Cityscape commented: “Encouraged by low oil prices, Kuwaitis are diversifying their investments both at home and in overseas markets. Over the last decade outward foreign investments by Kuwaitis have helped boost the Gulf country’s economic leverage in both the region and in the world.”

He said, Kuwait is the Middle East’s largest and the world’s seventh largest foreign investor, according to the World Investment Report of 2015, released by the United Nations Conference Trade and Development (UNCTAD).

Some of the key companies that will be taking part are Agaoglu Group of Companies, which will be showcasing its projects and aim at enhancing its connections with Kuwaiti investors.

Dr Onder Halisdemir, chief executive officer of the group said:  “Agaoglu has experienced an increase of interest from the Middle Eastern investors due to the high quality projects being presented and the strong ties between our very similar cultures. As the leading real estate and the construction company in Turkey, we are proud to be a part of the growth in the Turkish real estate market offering very attractive incentives to the Kuwaiti investors”.

Mohamed Afifi, CEO of HMG Properties which will be showcasing projects based in the US and other international markets, said it is a very good time for investors to consider diversifying their portfolio.

“At Cityscape Kuwait, HMG will showcase its latest projects in Britain, Spain, the US, Egypt, Lebanon and Turkey. The exhibition consists of a solid ground to promote our projects while reaching our target audience who are looking for state-of-the art residential and commercial real estate around the world.”

Benoy Kurien, general manager, of UAE-based Al Hamra Real Estate Development (Ahred) said: “We have witnessed consistently high sales demand and take-up of existing stock at Al Hamra Village as investors recognise the quality-value dynamic, thanks to the emirates higher yields and sustainable rental rate increases. The freehold, tax free environment and optional residency visa combined with a high quality of life ensure Al Hamra is a popular choice for both investors and those looking to set up home.”

Kurien said that Cityscape Kuwait is an excellent platform to meet Kuwaiti investors and network with.

“Kuwait represents a very important market for Ahred. Investors are well versed in the opportunities the UAE real estate market offers and Kuwaiti investors are well represented for such a small population. We are committed to ensuring Al Hamra’s portfolio of exceptional quality and value-for-money remains front-of-mind in this important market”.

Ahred will be showcasing three unique properties during the exhibition. These include two categories of villas for the multi-million dollar luxury Falcon Island Development, the five-bedroom beach villas and the spacious five-bedroom park villas. The company will also be highlighting the newly launched spacious six-bedroom Bayti premium villas as well as the Bab Al Bahr studio, one-, two- and three-bedroom apartments and penthouses.

Cityscape Kuwait 2015 returns with support from sponsors – NBK, Al Hamra Real Estate Development, Al Marjan Island and Mazaya.