AN INTRODUCTION TO THE EXHIBITION

Regional real estate markets have been witnessing rapid growth as their fast-growing middle class eyes private residential properties, both in their countries of origin and in the Gulf region. An information conduit for property buyers, developers, financiers and real estate agents hence became necessary. Four years ago, Bahrain International Property Exhibition (BIPEX) was conceived as the answer for this need. Today it has grown into a truly international property exhibition of repute with exhibitors from newer markets joining each year.

BIPEX 2006 took the real estate and infrastructure development sector a step forward with real estate sector assets worth $10 billion being exhibited. It also attracted around 10,000 footfalls. This year the exhibition will highlight the fast-changing international real estate scenario with particular focus on the Middle East, targeting investors, exhibitors and consultants alike. Many plush residential properties are under construction with many more in the planning stage in Bahrain, Dubai and other places in the region. Participation from real estate and property players at BIPEX 2007 is hence expected to touch unprecedented levels.

The time is thus opportune for far-sighted investors in the property development sector to step into this yet under-explored sector and reap handsome returns by tapping the region’s vast resources of ample land, trained manpower and high-quality infrastructure. The region has been witnessing an insatiable demand for waterfront real estate properties with wealthy buyers instantly lapping up each such project.

Traditionally the region’s affluent elite have cast their eyes on prime properties abroad, particularly in the United Kingdom, with Australia, Canada and the USA too joining this list in recent years. Such investments in residential homes have been primarily for regular holidays abroad or to facilitate the stay of children studying in overseas universities. Expatriates living in the Middle East, on the other hand have shown a strong preference for medium-sized apartments and properties with shared facilities. Rapid urbanisation in the Middle East has also seen shopping centres and malls being built simultaneously with office towers and luxury hotels.

This phenomenal growth of the sector offers tremendous scope for professional real estate agents with international links, information and professional expertise to provide prospective buyers reliable before and after-sales service. BIPEX-2007 will thus highlight upcoming projects in the region and allow real estate developers and their agents to address the needs of tentative buyers by providing them information about finance, legal norms, taxation, returns on investment, conditions for resale, transfer tax on inherited properties, etc. This will be in addition to specialised services like management, renovation, insurance of properties and tax consultancy services for overseas holdings.

Official Hotel