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Bahrain's property market still has a lot to offer in terms of investment opportunities as many developers proved during this year's popular international property exhibition Bipex 2009.
With 50 exhibitors have on show industry insiders says they are growing in confidence as new projects are on the rise and the market itself is on an upswing.
Mohammed Khalil Alsayed, chairman of the Bipex organising committee, said: "The encouraging response to Bipex from various stakeholders in the property market was definitely a clear validation of its growing reputation as one of the region's leading property exhibitions and the ideal platform to meet, exchange notes and seal deals."
Mohammed Abdul Khaliq, executive director of inovest, and Laith Yousif Al Memar, chief executive officer of Tameer Al Khaleej Development, a real estate investment agency, both believe that Bipex has proved a great opportunity for developers and consultants to exchange information related to the market.
Mr Memar said: "This recession is a filter at the end of the day and will sift the real developers from the others."
Visitor Mohammed Hamad, head of real estate investments for Kuwait Finance House, felt that Bipex was also very useful to investors and both local and expat families looking to buy into the Bahrain dream.
Mr Hamad said: "Bipex was a really good opportunity for people to see what was really going on within the market. We need to move forward despite what may be happening in terms of the crunch. This may not have been as fascinating as the previous exhibits but it was still good to come out and take a look.
"Diyar Al Muharraq and Durrat Al Bahrain are two projects that relate to my bank and I wanted to see how they were being viewed by the public as well as what other projects were being developed."
Alongside established developments such as Marina West and Durrat Al Bahrain a number of new developments were enticingly placed on display such as Albilad Real Estate Investment' Company's Water Garden City project proposed for the Seef district.
International property also played another major role at Bipex with exhibitors from Thailand, India and Jordan.
Alasdair Macdonald, president of Polar, a promotional organisation launching areas and resorts, said: "We have been commissioned by a developer in Thailand to sell in Bahrain. We attended this exhibition before and have already made deposits from previous clients and we expect a lot more."
Aziz Mithaiwala, director of Pegasus Real Estate:
We are positive about the activity happening at the exhibition and it will give us a better idea of how the market has improved. Both our projects, Abraj Al Lulu and Juffair Skyview, are doing well and already have occupants but we still have units to sell.
Daniel Chatley, development director for Diyar Al Muharraq:
Our goal was to bring more awareness to our project and remind the public that it is business as usual at Diyar. We have managed to move forward the reclamation and now we are focusing on getting our first phase of housing on the ground.
Zeyad Janahi, general manager of Albilad Real Estate Investment:
I think Bipex is an opportunity for developers to meet together. We have not launched the Water Garden City yet but aim to create general awareness and define our brand.
