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 (GPS) and Interiors Expo - at the Bahrain International Exhibition and Convention Centre (BIECC).

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, had deputised Shaikh Khalid to inaugurate the exhibitions.

 

Shaikh Khalid bin Abdullah Al Khalifa extended sincere thanks and gratitude to HRH the Crown Prince and Prime Minister for deputising him to inaugurate the exhibition, pointing out that HRH’s patronage of the annual show, which is organised by Hilal Conferences and Exhibitions (HCE), confirms the support accorded to the specialised exhibitions industry, said a Bahrain News Agency report. 

 

He also praised HRH the Crown Prince and Prime Minister’s interest in the real estate sector, it being one of the main non-oil sectors that has a positive impact on the Gross Domestic Product (GDP) and which is witnessing a steady growth under the comprehensive development march spearheaded by His Majesty King Hamad bin Isa Al Khalifa.

 

Private sector encouraged to invest

He 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 the report.

 

Shaikh Khalid pointed out that the demand for investment in the real estate sector was accompanied by a steady increase in the number of construction licences issued by 21.4%, an increase in the construction area by 55.8%, and a rise in the number of real estate transactions registered with the Survey and Land Registration Bureau by 29%, as shown by the economic indicators monitored by the Ministry of Finance and National Economy during the year 2021.

 

The Deputy Prime Minister pointed out the partnership between the public and private sectors to provide social housing options and solutions for citizens through the existing cooperation between the Ministry of Housing, the real estate development companies and banks.

 

Expos help establish partnerships

Within the same context, he stressed the importance of the 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.

 

Shaikh Khalid bin Abdullah Al Khalifa expressed thanks and appreciation to all officials in charge of the show whose efforts further boosted the reputation of the exhibition over the past years.

 

HCE Chairman Anwar Abdulrahman extended his deepest thanks and gratitude to HRH the Crown Prince and Prime Minister for patronising the shows, 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 showcased projects at GPS 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 exhibitions are being organised from March 22 to 24.