Property Weekly

Ouch! That's my home!

June 4 - 10, 2008
281 views

Property Arabia and the Worldwide Property Show 2008 ended up with a crash, bang, wallop and a buoyant note with reports of success and brisk sales from exhibitors.

Two would-be investors were so keen to secure the contract on the last home from sale on one new development that they squared up to each other and security had to be called to settle the fracas.

Sparks flew over Kuwait Finance House's $150 million Ishbiliya Village project in Manama.

The development features 300 villas and 500 apartments, both of varying sizes.

There will also be a shopping mall, restaurants and community facilities such as schools, parks and a mosque.

Event organiser Dareen Al Saad, 24, project manager at the Arabian Exhibition Management, said the remaining homes available on the development sold out within the morning of the second day of the exhibition.

"We had a dramatic situation when two people ended up fighting over the last property at the development," she revealed. "We ended up calling security to sort things out."

This project is targeted only at Bahraini and GCC nationals.

The development is to be constructed in Al Qadam area of Bahrain, overlooking Shaikh Khalifa bin Salman Highway, on the way from Seef to Hamad Town.

The exhibition proved to be a big hit all round with more than 6,000 home-hunters and corporate investors attending the four-day event at the Bahrain International Exhibition Centre.

Visitors were drawn to the range of properties on display that valued at more than $28 billion. There were 67 companies showcasing their projects from more than 30 countries around the world.

Delighted organisers Property Arabia & The Worldwide Property Show saw a 55 per cent increase of visitors on the first day alone, in comparison to last year's show.

As a result it has positioned itself as the most successful and dynamic property exhibition in the country.

Around 14 per cent of the visitors were from Saudi Arabia, with significant support also coming from the neighbouring Gulf states of Kuwait, Oman, Qatar and the UAE. The exhibitors continually remarked upon the high levels of investor interest and exceptional buying atmosphere created by the exhibition.

Abu Dhabi Investment House announced that it had sold 70 per cent of the Al Areen Homes Villas and 85 per cent of its Sunset Hills real estate projects.

"Property Arabia & The Worldwide Property Show is proving that development in the GCC is causing a stir and continues to grow," said Adam Partridge, international team manager for Sherwoods Property Consultants.

John Scott from Asset Property Brokers said that the exhibition was a "thoroughly successful experience" and he was looking forward to participating in the show in October.

Research conducted on the final day of the exhibition indicated that 95 per cent of exhibitors already intend to return for the next edition of Property Arabia and the Worldwide Property Show that is set to take place from October 29 to November 1 at the Bahrain International Exhibition Centre.

Ms Al Saad added: "I have been receiving a lot of positive feedback from our clients. Gulf Holding, for example, told me that this exhibition was perfect because we attracted the people that they wanted. Every single stand has had happy returns."







More on Property Weekly