01 June 2015

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The exhibition floor of Gulf Property Show was abuzz with activity as real estate owners, developers, brokers and agents engaged with numerous potential investors looking for homes, second homes and lucrative investment opportunities.

Apartments, floating villas, hotels, commercial building and industrial parks located right from the Aydin in Turkey to Nigeria, Serbia and UK and from Kuwait to the UAE were on offer, ranging from BD19,000 ($50,000) apartments in Turkey to BD650,000 ($1.77 million) floating homes in the UAE.

The event marked its “first deal” within the first few hours of opening, when UAE-based Eagle Hills and Bahrain’s Diyar Al Muharraq signed up for two hospitality projects set to come up at Marassi Al Bahrain, on the eastern shores of the Diyar Al Bahrain urban project off the northern coast of Muharraq Island in Bahrain. 

“We have started processing approval from authorities for this project,” said Dr Maher A Aziz Al Shaer, chief executive officer of Diyar Al Muharraq, a key strategic sponsor of the event.

He said the detailed design, masterplan and infrastructure of Marassi Al Bahrain is being processed.

Announcing its successful participation in the show, the Bahrain developer said it had registered the names of potential investors who were interested in purchasing residential land plots in this upcoming project.

The company – which is developing Diyar Al Muharraq, a unique masterplanned city for the people of Bahrain – also focused on the commercial plots available for investment and invited potential suitors to buy into its highly lucrative projects such as commercial villa plots, residential buildings plots, and light industry/logistics and warehousing and the commercial showroom plots.

Eagle Hills also promoted international projects such as Centenary City in Nigeria and Belgrade Waterfront in Serbia.

Exhibitors enticed visitors to their stands with stunning models of their projects, each vying with the other for attention.

Kleindienst Group’s Floating Seahorse drew considerable attention to its stand. The group has already sold 35 of the 42 units that it offers primarily to private GCC and Asian investors, said Charlotte Sky Ferrey, group marketing and PR manager.

She expressed optimism in clinching deals in Bahrain for the BD650,000 ($1.7 million) units which the Kleindienst Group hopes to start delivering from January 2016.

Another massive model of Oxygen –dubbed the eco luxury home – was the cynosure of Maaster Project Management Services’ stand. The project, which was unveiled at the Gulf Property Show, is expected to break ground this month (June) when sales of units will also be launched.

Durrat Al Bahrain provided a preview of the fourth phase of its development in the south of Bahrain, which it intends to officially launch at the end of this year, according to Wael Aldhaen, assistant manager sales. This phase consists of 60 residential villas, each with a built-up area of 800 sq m.

Bin Faqeeh Real Estate promoted its proposed Water Bay and two other residential projects, which will be officially launched next month (July), said Reema Janahi, sales and marketing specialist.

Another major exhibitor at the show was Naseej, which displayed the 27-luxurious-villa Yasmeenat Saar and Jumana Al Madina Al Shamaliya, which has 165 villa units for Bahrainis and 202 freehold apartments. The handover for all residential units is in November 2016.

Hand in hand with the government in solving the housing problem is Al Saraya Properties, which launched the Al Faridha Two project in Saar at the Gulf Property Show.  Work on the project, which comprises 26 villas, is set to start next month  and will be complete by next year-end. Also showcased was the freehold Sukoon waterfront townhouses project in Amwaj island.

The Galleria and Juffair Heights were two upcoming projects showcased by Pegasus Real Estate. The Galleria is a commercial project strategically located in Zinj. It will comprise four blocks of retail spaces starting from 200 sq m. There will be dedicated parking for 580 cars. Also part of the project is a two-storey Lulu hypermarket.

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