Flip through the latest issue of Gulf Weekly.
Members of the kingdom’s Indian community flocked to a property exhibition offering special deals and promotions on newly-developed villas, apartments and land back home.
The Property Show 2015, staged at the Bahrain International Exhibition & Convention Centre, was organised by Gallure Ideas & Insights with the aim of offering expats living in Bahrain and neighbouring Saudi Arabia investment opportunities.
More than 10,000 visitors attended last week’s three-day event, allowing them to discuss opportunities with real estate agents from across India. There were 150 exhibitors providing information on current developments, financial options and upcoming projects.
Gaurav Bhasin, Gallure’s chief executive officer, said the exhibition attracted around $10 million (BD3.76 million approximately) worth of bookings. He added: “We are very happy with the turnout. We wanted to provide a platform in Bahrain to help expats living here realise their dream of owning a home back in India. This exhibition showcased the options available in the Indian property market as a whole.
“Indians living in the GCC possess significant purchasing power and are always on the lookout for investment options. The affinity for their country remains and the urge to own a house back home is always a consideration.”
Kalpesh Parmar, 29, a house-hunting salesman who has been living in Bahrain for seven years, visited the exhibition with his wife, Manisha, and baby son, Yogin.
He said: “This show was a great idea because it gave families a chance to see what is on offer back home. Prices are high in some areas in the north of India, for example, but because there are many new developments popping up maybe we can get a good deal. I want to secure my family’s future. That way when we’ve finished with our stay in Bahrain, we have a home to go back to.”
According to one of India’s leading business newspapers, The Economic Times, Mumbai, Delhi and Bangalore are considered as hot investment destinations for 2015 due to plans to set up ‘smart cities’ within their districts.
India-based Urban Estates property agent, Rajesh Naidu, said that villas in Bangalore could range from 5,800,000 rupees (BD35,000) to 9,000,000 rupees (BD54,450) and apartments start from 6,800,000 rupees (BD41,138) onwards.
Mr Bhasin says other events are planned. A second edition of The Property Show will be staged in October, focusing on properties from around the world.
