Big property players gear up for Cityscape Asia

A real estate event that will draw big-time property developers from the Middle East as well as other parts of the globe will take place in Singapore from April 15-17.

Among the companies participating at Cityscape Asia 2008 will be Limitless, a Dubai World affiliate and a global developer that has been very active in Asia of late with Singapore the hub for its projects across the region. Its first international project in the region is Halong Star, a $220-million mixed-used development in Halong Bay near Hanoi, Vietnam.

Saeed Ahmed Saeed, the CEO of Limitless, describes Southeast Asia as “one of the most exciting and dynamic regions” providing “endless opportunities to demonstrate our core skills of master planning large-scale, balanced projects and waterfront development”.

The event’s Gold sponsor, London-listed Aseana Properties, will also be represented. The company focuses on property development in Malaysia and Vietnam with approximately $250 million worth of assets under management.

Late last year Aseana Properties announced its first acquisition in Vietnam with the purchase of 202,800 square metres of seafront development land. The estimated total development value of the project is $150 million and will include a luxury hotel and resort-themed residences comprising a condominium tower and other facilities such as a conference centre and recreational clubs.Cityscape Asia has also attracted new exhibitors from the Americas. MGM Mirage CityCenter will be putting on a big show. With a total cost expected to exceed $7.8 billion, MGM Mirage CityCenter in Las Vegas is the largest privately financed development in the United States. Dubai World paid $2.96 billion for 50% of the equity in the mixed-use, residential resort and retail complex.

“Singapore is a natural choice to host Cityscape Asia,” said exhibition director Graham Wood. “Singapore gives access to a regional market of 2.8 billion people and with one of the highest per capita GDP it is the lion of the Asian market.”

Taking place at Singapore’s Suntec City, the event will also include the International Property Investment and Development Conference with more than 50 speakers expected to air their views.

The inaugural Cityscape Asia last year attracted 4,500 participants from the region and beyond. However, the flagship event, Cityscape Dubai, shattered all previous records in October 2007 with 52,000 participants from 120 countries. Other similar events have been staged in India, China and South America.