KUWAIT: Held under the patronage of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, Prime Minister of the State of Kuwait, the 2nd edition of Cityscape Kuwait opens its door today with a strong presence of international exhibitors.
Hosted at the Kuwait International Fairgrounds, Meshref from 9-11 of December, this year’s event is set to welcome more than 70 exhibitors, from 10 countries including; Turkey, UAE, Saudi Arabia, Oman and Europe.
Speaking about the international participation at this year’s event; and the willingness of Kuwaiti investors to seek opportunities outside of their national borders, 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 continued “The figures speak for themselves; Kuwaitis invested nearly USD 14.2 billion abroad in 2007 alone. Almost ten years later, Kuwaitis are still looking at opportunities abroad. 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).”
Dr Onder Halisdemir, Chief Executive Officer of Agaoglu Group of Companies commented on the demand from Kuwaiti based investors, he 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”.
Having already established its first international office in the region in 2013, Agaoglu will be participating at Cityscape Kuwait to showcase their projects at this significant real estate platform and enhance connections with Kuwaiti investors.
Mohamed Afifi, CEO of HMG Properties who will be showcasing projects based in the US and other international markets, believes that now is a very good time for investors to consider diversifying their portfolio. He stated: “At Cityscape Kuwait, HMG will showcase its latest projects in Britain, Spain, USA, Egypt, Lebanon and Turkey. The exhibition consists 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”
Afifi confirmed that Cityscape exhibitions are the best platforms for real estate developers to share their real estate services.
Benoy Kurien, General Manager, of UAE based Al-Hamra Real Estate Development commenting on the why the UAE is such an attractive destination for international and regional investors said : “We have witnessed consistently high sales demand and take-up of existing stock at Al-Hamra Village as investors recognize 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 confirmed that Cityscape Kuwait is an excellent platform to meet Kuwaiti investors and network with, he said: “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 starting from $2 million and the spacious 5 bedroom park villas starting from $1.3million. The company will also be highlighting the newly launched spacious six bedroom Bayti Premium Villas priced from $953,000 as well as the Bab Al Bahr studio, one, two and three bedroom apartments and penthouses. These start from $107,800 with just a 25% deposit and incorporating an optional two year payment plan with 0% interest, AHRED will guarantee an incredible 18% return over two years.”
Aside from the exhibition, the three-day event is set to feature many new development including the free to attend seminars which will take place and a family day on the 11th.
Cityscape Kuwait 2015 returns with support from sponsors: NBK, Al Hamra Real Estate Development, Al-Marjan Island and Mazaya.