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DOORS opened today at the Bahrain International Exhibition Centre welcoming investors and property seekers to the sixth edition of the Bahrain International Property Exhibition (Bipex) 2009.
Held under the patronage of Shaikh Khalid bin Abdulla Al Khalifa, Minister of the Prime Minister's Court, and organised by the Bahrain Society of Engineers (BSE), Bipex 2009, is an annual event bringing investors and leading real estate companies together.
Jameel Al Alawi, director of conferences for BSE, told GulfWeekly that the property exhibition is the perfect place for developers to showcase their projects and for home-seekers and investors to check out what the market has to offer.
He said: "This is the right place for potential buyers and investors to see physical plans and to do their shopping among all the available projects on the island.
"It is also the right time for companies to launch a new project or development because they will benefit from huge media interest along with the many attending visitors."
The event comes just days after new projects in the kingdom such as the $1 billion (BD378 million) Al Nurana and $396 million (BD149.6 million) Amwaj Waves have been launched.
Mr Al Alawi added: "This is a particularly good time to think of long-term investment opportunities because of the reduction in prices even in popular commercial areas like Seef and Juffair.
"The property market in Bahrain is starting to pick up and the financial crisis is beginning to recover globally. Reports are even saying that the international market will recover sooner than expected. With that said, I would expect the real estate market to undergo the same scenario."
Last year, Bipex attracted a record number of 13,500 visitors 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 with an asset worth of $50 billion.
Mr Al Alawi said: "This year we have some new companies on board. We have also arranged for a technical seminar to discuss the Bahrain property market and nation's vision for year 2030. We have invited official speakers from the ministries to highlight the vision and how projects can merge or compliment it."
Sakana Holistic Housing Solutions, one of Bahrain's leading Islamic real estate finance companies, is the exclusive sponsor of the technical seminar that will be held on the event's second day.
Lively topics for discussion tomorrow include 'Real Estate Projects Design and Construction Aspects' and 'Prospects of Affordable Housing Projects in Bahrain'.
Key sponsors for Bipex 2009 include Diyar Al Muharraq, Ithmaar Development Company, Gulf Holding Company, Al Khaleej Development Company (TAMEER), Marina West, Scott Wilson Ltd, First Bahrain Real Estate, Ahad Holdings, Eskan Bank and Orchid Development Company.
The three-day exhibition is open from 10am to 9pm. Admission is free.
