If you’ve nothing to do this coming week and are interested in real estate, why not hop on a plane to the United Arab Emirates (UAE) and visit Cityscape Dubai, the largest real estate investment and development event in the world? CNN reports that in a city smaller than the whole of California, real estate development is valued at $1 trillion.
That’s a lot of money in any currency, and impressive in dollar terms to say the least. No wonder that CNN’s John Defterios is blogging from Dubai on the event.
A tour this week through the largest real estate and development event in the world, Cityscape in Dubai, provided a reality check. 70,000 square meters (700,000 square feet) of exhibition space, showing off $1 trillion dollars of investments that are underway or planned for the next decade. (We are talking about major cities being built from scratch.)
In 2002 this show had only 1000 participants; today it has over 40,000. And if you are not a believer in this growth, why has Cityscape added another five emerging market events on the annual calendar including Shanghai? It is part of a seismic economic shift, supported by record energy prices.