Cityscape Abu Dhabi last week was a bit of an eye-opener. The four-day event at ADNEC included an exhibition and conference for developers, purchasers and others involved in real estate.

Written by: Dennis Jarrett

Last year’s Cityscape was a gloomy affair, with the regional property recession just starting to bite. This year the fizz seems to be back, with a real sense of opportunity and achievement.

Some major winners were the guys who produce scale models of the developers’ ideas: there were lots of these, and usually on a big scale. Equally successful were vendors of laser pointers, which was the developers’ preferred method of indicating what’s where in the planned layouts since the models are too large for the time-honoured pointy finger approach.

Less flippantly, it’s clear that a real sense of stability is returning to the property investment market after last year’s blip. The Abu Dhabi government’s continued investment in infrastructure is key – not much longer for the Al Salam Street project (hooray) though it seems work on the fairly essential Zaha Hadid designed third bridge has ground to a halt following financial disputes (boos).

Despite the sheer scale of the master-developer projects like Reem and Sowwah islands it’s clear that things are coming to fruition. Apartments are being released in Reem now and Al Raha shortly; some developments should be complete on Sowwah and Saadiyat by this time next year. The landscape of Abu Dhabi will have changed dramatically in two years.

There’s more to come, according to a panel debate at Cityscape involving the head people from Aldar (Yas Island, Al Raha, and more); Mubadala (Sowwah, Mina Zayed, and more); and Sorouh (Lulu Island, Shams Abu Dhabi, and more).

Mid-range residential property is getting their attention, so there should be more relatively affordable apartments and villas. And Aldar CEO John Bullough called the retail sector the “unsung opportunity” in the UAE capital, so we can expect more malls too – Aldar’s developments include the Yas Mall, which will be about the size of Dubai Mall and therefore qualifies as very, very big.

Bullough also said: “We have all felt the pain. The last 18 months have been cathartic for the market. We now need to give investors solid future prospects and that is a long-term play. This isn't a quick win. Property is a long-term investment.”

It’s also the future for Abu Dhabi – not just the way some people make money here, but also the way the place looks, feels and works for those of us who live here. Interesting times.