A favourable outlook

THE popular Bahrain International Property Exhibition (Bipex) 2009 aims to give the regional real estate market a much-needed boost.

The annual event attracts thousands of potential home-buyers and investors and will be held at the Bahrain International Exhibition Centre from October 14 to16.

Shaikh Khalid bin Abdulla Al Khalifa, Minister of the Prime Minister's Court, announced the launch date at a ceremony attended by organisers the Bahrain Society of Engineers, senior government officials, dignitaries, investors, sponsors and exhibitors.

A Majeed Al Gassab, BSE president said: "Bipex 2009 comes at a crucial time when market confidence in the real estate sector has received a setback because of the adverse impact of the global economic crisis.

"Investors have become very cautious as a result, but we are confident that the sixth edition of this premier event will play a vital role in restoring confidence in the markets.

"The outlook favours an upturn because, despite the projected slowdown, the GCC real estate sector has been continuously growing and drawing the attention of investors and buyers.

"The simple truth is that the real estate market will continue to be an attractive asset class for investment in the long run because there will always be a strong demand for properties in a young and growing population that is seeking a higher standard of living."

Mohammed Khalil Al Sayed, chairman and member of the Bipex organising committee, added: "Over the years, Bipex has served as a platform to bring together all stakeholders under one roof and provide a free flow of information on the current status of the sector.

"Bipex 2009 will continue this successful tradition of catalysing the growth in the real estate and property market in the kingdom and surrounding region and providing a window to the future."

Bipex 2008 attracted a record 13,500 footfalls, bringing together 98 participants from the UK, Portugal, India, Philippines, UAE, Kuwait, Oman, Saudi Arabia, Qatar, Jordan and Bahrain to showcase real estate and infrastructural projects worth $50 billion.

The organisers also announced Diyar Al Muharraq as the prime sponsor for Bipex 2009. It is one of the biggest mixed-use residential urban developments ever undertaken by the private sector in Bahrain.

The spotlight will be on various on-going and planned developments in the real estate sector in the kingdom and the region. It will also provide prospective clients a platform to interact with potential developers, financiers and investors to exchange ideas, analyse and discuss issues of relevance to the sector.