Exhibition to open on October 23; 8700 sq. mtr of display area sold out
Manama, Bahrain - Bahrain International Property Exhibition 2008 (BIPEX 2008) has received strong response from exhibitors, with 8700 sq. mtr exhibition area already sold out. Announcing this here today, the Bahrain Society of Engineers (BSE) said the fifth edition of the mega event, being held under the patronage of H.E. Shaikh Khalid bin Abdulla Al Khalifa, Minister of the Prime Minister's Court, Kingdom of Bahrain, is expected to surpass last year's achievement, when over US$ 38 billion worth of real estate assets of 70 companies were displayed to over 12,000 visitors. The exhibition is being held from Thursday 23 October till Saturday 25 October 2008 at the Bahrain International Exhibition Centre.
According to Mr. Mohammed Khalil Alsayed Chairman of BIPEX 2008, The GCC has earned the distinction of being a region unaffected by the fallout of the US sub-prime crisis. Buoyancy in oil prices has ensured a current account surplus of more than US$200 billion for the third year in succession, much of it fuelling growth in the non-oil sector. The chief beneficiary has been the real estate and infrastructure development sector, which is emerging as a safe haven for international investors seeking to escape the recessionary trends that major economies in the world are experiencing and the resulting turmoil in the global equity markets. As a consequence, Bahrain is witnessing an economic boom, with the real estate sector being one of the prime engines of growth."
"BIPEX was conceptualised to inform property buyers, developers, financiers and real estate agents about investment prospects in the region. It seeks to bring together investors, both regional and international, as well as real estate developers under one roof and put the spotlight on various developments in the real estate sector in the Kingdom," added Mr. Alsayed.
A key highlight of BIPEX 2008 is the interactive Technical Property Seminar, a novel initiative that will provide technical details on finance, taxation and legal norms to potential investors. The seminar, to be held on October 25 at Al Fanar Hall, has two sessions. The first at 5.00 pm will cover topics such as 'Sustainable Designs from an Architects Perspective', 'Challenges in Executing the Bahrain City Centre Development' and 'Dilmunia - A Project for a Balanced Life'. The second session, to be held at 6.45 pm, will focus on 'Real Estate Outlook in Bahrain' and 'The Rise in Building Materials Costs and its Impact on Real Estate'.
Mr. Jameel Khalaf Al Alawi, Director of Conferences, The Bahrain Society of Engineers said: "The strong response is a reflection of the consistent growth of the real estate sector in the GCC, which has risen in stature as an international property market capable of attracting investments from across the globe. With the GCC boasting some of the most exciting waterfront developments and innovative real estate concepts, real estate investment trusts are being set up in association with banks to fund new projects. Bahrain remains in the forefront of this growth curve, being the first country in the region to grant property buyers the right of freehold ownership. "
"BIPEX has always been Bahrain's premier real estate exhibition and the first choice for exhibitors across the region. This year we have participants from the UK, Portugal, India, the Philippines, UAE, Kuwait, Saudi Arabia, Qatar and Jordan, in addition to Bahrain. We expect the exhibition to surpass the records set last year, both in terms of exhibitors as well as visitor footfalls. It shows that our efforts are moving along the right track and BIPEX is truly making a significant mark regionally to emerge as Bahrain's largest property exhibition," added Mr. Al Alawi.
The success of BIPEX is reflected in the exhibition area being increased to 8,700 sq. mt from last year's 6,000 sq. mt to cater to the growing number of participants and visitors.
The key Sponsors of BIPEX 2008 include Riffa Views as the Premium Sponsor, Ithmaar Development Company, Abu Dhabi Investment House, Al Argan Bahrain, Al Khaleej Development Company (Tameer), Marina West, Top Real Estate, Bahrain District Cooling Company (TABREED), Century Homes, Landmark Bahrain, Tashyeed Properties, Encyclomedia, Smart Six Company, Rawa Films and CAD World as Platinum Sponsors, IRIS WLL., Orchid Developers and Al Safar Group Holding WLL. as Gold Sponsors. Media partners include Atlas TV, IRETO, Property World, Khaleej Times, Gulf Daily News, Gulf Weekly, Arabian Homes, BIG Magazine, Attention, Al Aqariya News, Aleqtisadiya, Aqar Magazine, Jordan Land, Properties News, Al Ayam, Al Wasat, AlWaqt, Al Watan, The Commercial, Alomran and Layalyna. The marketing agent of BIPEX 2008 is Al Tashkeel Events Management,
Admission is free for all and the exhibition will remain open from 10 am to 9 pm on all three days.
-Ends-
© Press Release 2008
