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The confident Bahrain Society of Engineers believes the fifth edition of the Bahrain International Property Exhibition (Bipex) 2008 will surpass last year's success following the "overwhelming" response it has received from exhibitors.
The real estate event, held under the patronage of Shaikh Khalid bin Abdulla Al Khalifa, Minister of the Prime Minister's Court, will be staged at the Bahrain International Exhibition Centre from October 23 to 25.
Mohammed Khalil Alsayed, chairman of Bipex 2008, said the aim of the event was to inform property buyers, developers, financiers and real estate agents about investment prospects in the region.
"It seeks to bring together investors, both regional and international, as well as real estate developers, putting the spotlight on various developments in Bahrain's real estate sector," he explained.
"I think that the real estate market in Bahrain is stable at the moment and will still be a relatively secure and highly rewarding investment with good returns.
"The investor's sentiment in the Gulf is still high and we think that this will be reflected in Bipex 2008.
"The responses that we have received so far are quite overwhelming. That is why we have added one more hall to the two halls we had initially and this will establish Bipex as the biggest real estate exhibition in Bahrain.
"I think we also need to take into consideration that this is being organised by a non-profit organisation like the Bahrain Society of Engineers.
"Bipex 2007 was a benchmark showcasing the numerous real estate and infrastructure developments both from the region and outside, constituting assets worth $38 billion and attracting over 12,000 visitors. So I think with the positive responses, Bipex 2008 will be a remarkable development that will surprise a lot of people."
A key highlight of Bipex 2008 will be the interactive 'Technical Property Seminar', a novel initiative that will provide technical details on finance, taxation and legal norms to potential investors.
The seminar will be held on October 25 at Al Fanar Hall and has two sessions. The first will be at 5pm covering topics such as 'Sustainable Designs from an Architect's Perspective', 'Challenges in Executing the Bahrain City Centre Development' and 'Dilmunia - A Project for a Balanced Life'.
The second session will be held at 6.45pm and will focus on 'Real Estate Outlook in Bahrain' and 'The Rise in Building Materials Costs and its Impact on Real Estate'.
Jameel Khalaf Al Alawi, director of conferences with the Bahrain Society of Engineers, said: "The strong responses we have received is a reflection of the consistent growth of the real estate sector in the GCC, which has risen in stature as an international property market capable of attracting investments from across the globe.
"With the GCC boasting some of the most exciting waterfront developments and innovative real estate concepts, real estate investment trusts are being set up in association with banks to fund new projects. Bahrain remains in the forefront of this growth curve, being the first country in the region to grant property buyers the right of freehold ownership.
"Bipex has always been Bahrain's premier real estate exhibition and the first choice for exhibitors across the region. This year we have participants from the UK, Portugal, India, the Philippines, UAE, Kuwait, Saudi Arabia, Qatar and Jordan, in addition to Bahrain.
"We expect the exhibition to surpass the records set last year, both in terms of exhibitors as well as visitor footfalls.
"Five years back the exhibition was so small. We started with 500 square metres and now the exhibition area has increased to 8,700 sq m to cater to the growing number of participants. Next year, we will double that and have an exhibition of 15,000 sq m or more. That is what we are planning for Bipex 2009.
"It shows that our efforts are moving along the right track and Bipex is truly making a significant mark regionally to emerge as Bahrain's largest property exhibition. Anyone that is involved in the real estate market in some form or another will want to be a part of Bipex."
The key sponsors of Bipex 2008 include Riffa Views Signature Estates as the premium sponsor and Ithmaar Development Company, Abu Dhabi Investment House, Al Argan Bahrain, Al Khaleej Development Company (Tameer), Marina West, Top Real Estate, Bahrain District Cooling Company (Tabreed), Century Homes, Landmark Bahrain, Tashyeed Properties, Encyclomedia, Smart Six Company, Rawa Films and CAD World as the platinum sponsors.
The gold sponsors are Iris WLL, Orchid Developers and Al Safar Group Holding WLL. The media partners include GulfWeekly, Atlas TV, IRETO, Property World, Khaleej Times, Gulf Daily News, Arabian Homes, BIG Magazine, Al Aqariya News, Aleqtisadiya, Aqar Magazine, Jordan Land, Properties News, Al Ayam, Al Wasat, AlWaqt, Al Watan, The Commercial, Alomran and Layalina.
Al Tashkeel Events Management is the marketing agent of Bipex 2008 which will be open on all three days from 10am to 9pm. Admission is free.
