1. Growing Rents and Cityscape in UAE.
The 7th
Cityscape is scheduled on 6th
to 9th
October, 2008 in Dubai and is expected to do more
than 25% of business in comparison to what it had been, last year.
What is City Scape or is it City eScape?
Cityscape, the world’s largest business to business real estate investment and development event
attracts regional and international investors, property developers, governmental and development
authorities, architects, designers, consultants and all senior professionals involved in the property
industry. It provides an annual forum that celebrates the very best in real estate, architecture,
urban planning and design from around the world.
Firstly let us discuss and understand how the property market works, to empathize its effect on
the common man, the expat.
The Big investors and the big developers get together during this event and buy and sell big
properties, respectively at bigger prices. The investor in return will put the property either on rent
or he’ll sell it. If sold, the property will cost more to the new investor, including the profit of the
original investor. If put on for rent, the investor would prefer higher amount from the expat,
making the cost of living high for them.
So, does that mean the rents will grow due to cityscape in the UAE?
The prediction is that in the shiny, bright and breezy skyscrapers of UAE, where the sun always
shines, the sky is not at all the limit when the topic of real estate prizes arises.
The Property market is growing abundantly, as the international investors are investing billions
of dollars in the UAE. While most of the western countries appear to be heading towards
financial slump, the property market in the UAE continues to grow to the disbelief of many
investors.
Nobody sees these prices fall dramatically in the near future as the ratio of expats coming in the
country is much higher than, them leaving.
The prediction is that due to the financial and property crunch in the other parts of the world, the
financial and legal talent may migrate to the cities of the UAE in search of better job
opportunities and financial growth as the expansion is on in the cities such as Dubai and Abu
Dhabi.
How and where will these people get accommodated? Would everyone be able to pay high rents
to reside as individuals?

2. Possibly yes, as they will come under financial sectors and legal sectors, where the salaries are
one of the highest in UAE. Therefore, there is a potential that there will be growth in demand of
rates.
But, not all the people residing in UAE would be able to meet up with the growing rents. What
will happen to those who can’t afford to stay in high raised buildings, paying high rents all by
themselves independently?
The problem of higher rents can only be taken care of if two or more families share the rent as
one.
If taken this option, to reduce the effect of growing rents, the families or individuals would be
comfortable sharing the rent of an apartment, big or small, convenient or inconvenient. But,
unfortunately or fortunately, the government knows and understands that it is not easy and
comfortable for more than one average family to stay in a small room or flat. Hence, the
government has banned the ideology of sharing flats, apartments and even villas. The landlords
of the villas are given a notice of one month. The people or families sharing small apartments are
been given the notice to vacate the house, Hence, increasing the problems of the common man,
an expat who has come to this part of the world purely to make money and save money.
Coming back to Cityscape, which will bring good news for the country, as it will help in the
growth and development of the country, building the infrastructure, the landmarks, the high-
raised buildings to attract tourists in the country, unfortunately, will not bring smiles on the faces
of the common man, the expat residing here.
In the current situation, most of the population is residing in the considerably cheaper emirates
like Abu Dhabi, Ajman and Sharjah while working in the hub, Dubai. This presently reduces the
burden of rent, increasing the burden of getting to work on time, due to the traffic jams that occur
every morning and evening possibly because of the construction of metro and other flyovers for
the convenience of common man.
Soon, the so-called cheaper emirates will not be cheaper and the cost of rent will only increase,
especially with the Cityscape round the corner. This may result in expats going away, to their
native countries, or leading bachelor life, sharing an apartment with a friend or colleague,
visiting their families once a year.
Presently, the market worldwide is unstable, leaving aside the property market. Though the
things are expected to be in control soon, the property market and business is expected only to
grow higher and higher, making it impossible for the common man to reside in a good locality,
with the family.