Ci­tyscape joins Top Expo group to launch Kuwait’s largest real es­tate events for 2017

Kuwait Times - - BUSINESS -

In­forma Ex­hi­bi­tions, or­gan­iser of the Ci­tyscape real es­tate events, has signed an agree­ment with Kuwait­ibased Top Expo Group, or­gan­iser of the Kuwait Real Es­tate& In­vest­ment Ex­hi­bi­tion (RIE) and Kuwait In­ter­na­tional Prop­erty Show (KIPS), to jointly organize two real es­tate events for 2017, Ci­tyscape Kuwait RIE and Ci­tyscape Kuwait KIPS.

Lev­er­ag­ing the real es­tate po­ten­tial in Kuwait, both shows will be the largest real es­tate events ever held in the coun­try and are ex­pected to con­nect over 100 ex­hibitors from Kuwait and coun­tries across Europe, Mid­dle East and North Africa with thou­sands of re­cep­tive real es­tate in­vestors.

The lat­est ad­di­tion to Ci­tyscape’s grow­ing port­fo­lio of real es­tate ex­hi­bi­tions and con­fer­ences, Ci­tyscape Kuwait RIE will take place from April 10thuntil the 15th, while Ci­tyscape Kuwait KIPS takes place in the sec­ond half of the year, from October 9thuntil the 14th. Both events will be held at the Kuwait In­ter­na­tional Fair­grounds.

The part­ner­ship sig­ni­fies a turn­ing point for real es­tate in Kuwait, not only be­cause it com­bines a wealth of in­dus­try knowl­edge from two lead­ing ex­hi­bi­tion or­gan­is­ers but, more im­por­tantly, be­cause of the abil­ity of Top Expo Group and Ci­tyscape to in­flu­ence the real es­tate mar­ket as is ev­i­dent through its pre­vi­ous events.

For ex­am­ple, Ci­tyscape has be­come the lead­ing real es­tate event brand in the re­gion, run­ning ten ex­hi­bi­tions glob­ally, in­clud­ing its flag­ship event in Dubai, Ci­tyscape Global. Mean­while, Top Expo Group has po­si­tioned RIE and KIPS as one of the most suc­cess­ful and re­spected real es­tate events in Kuwait over the past decade.

“We look for­ward to work­ing with Top Expo Group to cre­ate a plat­form for re­gional and in­ter­na­tional play­ers to drive real es­tate in Kuwait and abroad,” said Wouter Mol­man, Group Di­rec­tor Ci­tyscape, In­forma Ex­hi­bi­tions. “By com­bin­ing our pro­fes­sional ca­pa­bil­i­ties and the strengths of our real es­tate brands, Ci­tyscape with KIPS and RIE, will en­sure that both events will be THE events to par­tic­i­pate in Kuwait go­ing for­ward.”

Shaikh Malek Al Sabah, Chair­man of Top Expo Group agrees. “It is a great plea­sure for us to team up with an es­tab­lished ex­hi­bi­tion or­gan­iser like In­forma and to have the Ci­tyscape brand in Kuwait. The coun­try has wit­nessed the launch of many real es­tate events in re­cent years, which has cre­ated a some­what con­fus­ing en­vi­ron­ment for ex­hibitors and vis­i­tors who find it dif­fi­cult to select the right event, how­ever we be­lieve that by com­bin­ing our in­dus­try knowl­edge and skills we can ame­lio­rate this and cre­ate a plat­form through which all re­quire­ments are met un­der one roof,” he said.

The part­ner­ship be­tween Ci­tyscape and Top Expo Group is in­dica­tive of an evolv­ing real es­tate mar­ket in the coun­try, es­pe­cially as Kuwait looks to di­ver­sify its econ­omy in prepa­ra­tion for a post-oil era.

Kuwait Vi­sion 2035

Un­der its eco­nomic devel­op­ment blue­print Kuwait Vi­sion 2035, the coun­try aims to de­velop sec­tors such as fi­nance and real es­tate to make them even more com­pet­i­tive in­ter­na­tion­ally. Kuwait is al­ready on a suc­cess­ful path, ear­lier this month the In­ter­na­tional Mon­e­tary Fund (IMF) lauded the coun­try’s plans for re­for­ma­tion and its path to­wards di­ver­si­fi­ca­tion as it less­ened the im­pact of the cur­rent low-oil price en­vi­ron­ment.

Driven by low oil prices, Kuwaitis are also di­ver­si­fy­ing their in­vest­ments in over­seas mar­kets. Over the last few years outward for­eign in­vest­ments by Kuwaitis have helped boost the Gulf coun­try’s eco­nomic lever­age in both the re­gion and in the world. It’s an ad­van­tage for the coun­try, with in­dus­try ex­perts stress­ing the need to main­tain such an ap­proach so the coun­try can ben­e­fit from the lead­ing Kuwaiti in­vest­ments abroad. Kuwaitis in­vested nearly USD 14.2 bil­lion abroad in 2007 alone. Al­most ten years later, Kuwaitis are still look­ing at op­por­tu­ni­ties over­seas.

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. The re­port noted that Kuwait also came first in terms of outward for­eign di­rect in­vest­ment in the Mid­dle East re­gion with to­tal in­vest­ments of $13 bil­lion.

GCC is the prom­i­nent in­vest­ment hub for Kuwaitis along with ma­jor in­vest­ment from both the pri­vate and pub­lic sec­tor into UK real es­tate, France and Ger­many. Turkey is an­other ma­jor in­vest­ment des­ti­na­tion for Kuwaitis af­ter a de­ci­sion was made by the Turk­ish gov­ern­ment to le­galise real es­tate own­er­ship for GCC na­tion­als in 2012.

Thus, Ci­tyscape Kuwait KIPS and Ci­tyscape Kuwait RIE will in­clude ex­hibitor brands from key mar­kets in­clud­ing UK, Europe, Amer­ica, Asia, on top of it Cyprus, Dubai, Turkey and Egypt.

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