Over 7,000 visitors expected for twin property expos
Twin property expos Property Arabia 2008 and the Worldwide Property Show (WPS) 2008 are a hot spot for buyers to get the best deals in over $20 billion realty projects being showcased at Bahrain International Exhibition and Convention Centre (BIECC). The expo was opened by Minister of Industry and Commerce Dr. Hassan Fakhro and Minister for Works Fahmi bin Ali Al Jowder who viewed the growing property market in Bahrain as a catalyst to the national development as organisers expect over 7,000 visitors over the next three days.
Dr. Fakhro said: "The exhibition will revive trade activities, promote real estate projects and reinforce Bahrain's international position on the international investment map. Amid this construction and urban boom as well as the huge and highly competitive real estate projects seeing day life and attracting competing international companies implement them and in light of the investment-friendly climate and easy regulations, Property Arabia 2008 will for sure impact well on the unprecedented economic boom."
The ministry of Industry and Commerce, he said, in line with the government directives and tendencies, commits itself to the further boost of the exhibition sector and attraction of all sorts of exhibitions, providing a broad range of facilities to exhibition organising companies in order to solidify the exhibition industry in the kingdom and serve the national economy.
Minister Al Jowder said the majority of real-estate projects had already come under the scanner of his ministry's physical planning directorate to make sure they were conform to the kingdoms structural plan and involve the required infrastructure to be more alluring for investors. Al Jowder also touched in his statement on the soaring building materials and talked about the governments efforts to curb prices which have been on the rise for the third consecutive year, attributing the surge to the high cost at the countries of origin and the growing demand for such products at the domestic level to meet the requirements of the urbanisation and construction boom.
Al Jowder added: "The import company, to be established by the government, which is now part of consultations between the housing bank and mumtalkat holding company is expected to ensure the needs of the government projects and curb the price of building materials."
"Importing building materials from Turkey and East Asian countries, establishing a new harbor for imported sand are other alternatives, currently under study," Al Jowder added.
Organised by Bahrain-based Arabian Exhibition Management (AEM) and Dubai Shows Ltd., the shows have attracted 60 high-profile exhibitors from 55 countries, making it one of the best realty shows on the calendar of the BIECC. With the international element of the WPS and the regional strength of Property Arabia, the combined event is twice the size of the show last May.
Business opportunities in the region have never been better, and Property Arabia and WPS will provide an ideal opportunity for anyone looking to showcase projects and investment opportunities, achieve increased awareness, form new relationships and realise sales. Gathering the expertise of two major exhibition organisers and two established exhibitions, the combined event is set to be bigger and better than ever, serving as a magnet for serious investors and home buyers in the GCC.
WPS aims is to create an effective platform, in a conducive environment, to put sellers of property in touch with serious buyers. The combination of the two shows allows international exhibitors to showcase thousands of the biggest and most innovative real-estate developments taking place throughout the world, said AEM project manager Dareen Al Sa'ad.
"On show is a vast range of residential and commercial properties as well as related services including apartments and penthouses, agents, architects, financial institutions, interiors, new city and town projects, resort and island properties and waterfront and luxury developments," she said. Among exhibitors are Abraj Al Lulu, Abu Dhabi Investment House, Era Project, Gulf Holding Company, Landmark Properties, Landmark Bahrain, Orchid Developers, Sherwoods Real Estate and Tabarak Group among others.
Dubai Shows director Mike Bridge said the international cadre of exhibitors offers the finest examples of property-development and real-estate opportunities in the world. He said this year they have an unprecedented number of international exhibitors who have come to Bahrain to showcase their high-end property from all around the world.
"On display are developments from Bulgaria, Canada, Cyprus, Portugal, Spain, the US and many more," he said. Pegasus Real Estate sales and business development general manager Eman Al Mannai said customers were showing a very keen interest in a BD 17 million Crystal Heights project, a freehold residential development in Juffair.
"With construction already underway, we have secured many firm commitments, even prior to the official launch," Al Sa'ad said. Marina West, another exhibitor at the shows, is showcasing Bahrain's latest beachfront development.
By Mahmood Rafique Business Correspondent
© Bahrain Tribune 2008
