01 April 2022

Bahrain offers an attractive environment for real estate investment, especially with the solid legal coverage that this sector enjoys to keep pace with the best practices, said Deputy Prime Minister Shaikh Khalid bin Abdullah Al Khalifa.

He was speaking after inaugurating the trio of exhibitions – Gulf Construction Expo, Gulf Property Show and Interiors Expo – at the Bahrain International Exhibition and Convention Centre (BIECC) which was organised by Hilal Conferences and Exhibitions (HCE) last month. His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, had deputised Shaikh Khalid to inaugurate the exhibitions.

Shaikh Khalid stressed that the growth of the real estate development companies and their quality projects all over the kingdom reflects the efforts made by the government to provide the necessary facilities to encourage the private sector to invest in this activity that provide various options for citizens and residents for investment and housing alike, said a BNA report.

The Deputy Prime Minister pointed out that the increase in demand for real estate investment was accompanied by a steady increase in the number of construction licences issued (21.4 per cent), in the construction area (55.8 per cent), and the number of real estate transactions (29 per cent) registered with the Survey and Land Registration Bureau, as shown by the economic indicators monitored by the Ministry of Finance and National Economy during the year 2021.

Shaikh Khalid highlighted the partnership between the public and private sectors to provide social housing options and solutions for citizens through the cooperation between the Ministry of Housing, the real estate development companies and banks.

 

Expos help establish partnerships

In the same context, he stressed the importance of specialised real estate exhibitions in exploring the available investment opportunities in Bahrain and bringing together real estate developers from Bahrain and the GCC countries to exchange experiences and establish partnerships.

HCE Chairman Anwar Abdulrahman extended his deepest thanks and gratitude to HRH the Crown Prince and Prime Minister for patronising the shows, while thanking the Deputy Prime Minister for inaugurating the exhibition.  He commended HRH the Crown Prince and Prime Minister’s support to the exhibition and convention industry, given its contribution to supporting the economic recovery plan and providing promising opportunities for citizens and the business sector.

He pointed out that the projects showcased at Gulf Property Show are worth around $15 billion, which underlines the good reputation gained by the show as one of the main promising platforms of the real estate sector.

The Gulf Property Show is the Northern Gulf region’s leading boutique showcase for the real estate sector. According to HCE, exhibitors reported good sales and enquiries at the show.

The trio of exhibitions aim to promote Bahrain as a business hub, hosting strong exhibitor presence from Saudi Arabia, UAE, Kuwait, USA and UK. The regional presence is joined by products and services from China and Europe.

Gulf Construction Expo, an exhibition for construction machinery, building materials and construction vehicles, provides the sector with a professional platform for networking, investment and the exchange of ideas and information. Interiors 2022 is a dedicated event for luxury, creative and designer products for the home or commercial spaces.

‘On the Wall’, a dedicated event to promote Bahrain’s artists to the wider community held as part of the Interiors Expo, was supported by the newly-initiated National Council of Arts and the official opening was presided over by its Chairman Shaikh Rashid Al Khalifa. 

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Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.