Thursday, October 9, 2008

Cityscape set to boost advertising spend

Advertising Spend - Cityscape 2008 is expected to boost the ad spend for the fourth quarter of 2008, the first among a series of upcoming regional and international exhibitions and conferences.

Industry professionals have voiced their concern about the shortage of space in print media for non-real estate advertisers.

During Cityscape, starting today and ending on October 9, real estate is taking up more than 70 per cent of advertising space. With newspapers already overwhelmed with limited spaces and increased demand, the trend shifts to special operations with more belly-wraps, full wraps and false pages.

Wissam Najjar, media buying director, OMD, said: "The demand is huge with more than 60 per cent of the real estate industry currently competing for the scarce space. Non-real estate advertisers will prefer to make way for real estate, to avoid clutter."

Lincoln Rajendram, senior sales manager, AMG, said: "Though print media has not increased its rate card prices, Cityscape period is witnessing an increase between 60 per cent and 80 per cent in ad revenues. It is the major real estate event of the year and our publications have started producing supplements, advertorials and special operations advertising to meet the demand."

The international financial crisis has not affected the local real estate market nor ad spend. Cityscape is even expected to establish a larger success during its seventh edition this year, to prove to investors that the local and regional market will continue to see large demands and profitable projects, media experts said.

Najjar said the global recession will not affect real estate in the region. "There is no sign that real estate advertising budgets will witness any cuts.

"The fourth quarter usually sees increases in ad spend, being a very active exhibition and events season.

"Real estate advertisers will not reduce their next year's budgets. In case of any decline in demand, advertising is going to be a very essential tool to boost market confidence."

He said: "The only ones currently affected are international developers and investors who might consider some reductions. Such revisions will have a little effect on the local ad market."

Cityscape Dubai, including more than 400 real estate and home financing institutions, is associated with Cityscape Dubai conference.

The third day of the conference is to focus on marketing and branding, with topics of discussion including online advertising, impact of branding on ROI, marketing innovation and destination branding.


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