BIPEX 2008 receives strong response

Commenting on the initiative, Mr. Abdul Majeed Al Gassab, President, Bahrain Society of Engineers said: 'The Gulf region has been witnessing several changes at the macroeconomic level amidst diversifying reliance on oil and gas exports as drivers of economic growth. The average annual growth rate of the non-oil and gas GDP over the past 10 years ranged between 9 and 10 per cent and this trend is expected to continue up to 2012. Real estate and infrastructure development has been a major contributor to this growth, which is fuelled by factors like population growth, huge capital inflows, high liquidity due to consistently high oil prices and asset creation by financial institutions.'

'The mega scale at which the property market has grown both in Bahrain and elsewhere in the GCC, necessitated creation of a convenient information conduit for property buyers, developers, financiers and real estate agents. Bahrain International Property Exhibition (BIPEX) was conceived five years ago, primarily with this purpose in mind. Within a short span it has risen to the level of an international property exhibition of reckoning, a fact validated by its culturally and geographically diverse exhibitor profile drawn from both established and emerging international property markets,' Mr. Al Gassab, added.

BIPEX 2008 will continue providing established real estate firms from the region as well as non-GCC countries, an appropriate forum to reach out to investors and answer all their queries associated with purchase of a residential unit or property, right from finance options to regulations, tax benefits and returns on investment under one canopy. Furthermore, BIPEX 2008 will also act as an excellent platform through which Financial Institutions can promote their new Property Acquisition Loan Services to prospective buyers.

According to Mr. Mohammed Khalil Alsayed, BIPEX 2008 Organising Committee Chairman:

'BIPEX 2007 was an amazing showcase of the myriad real estate and infrastructure developments both from the region and outside constituting assets worth US$ 38 billion. Another outstanding indicator of the exhibition's success was the over 12, 000 footfalls that it attracted. In addition to highlighting upcoming projects in the region, BIPEX-2008 will offer real estate developers and agencies a chance to gauge the demand and 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 specialized services like management, renovation, insurance of properties and tax consultancy services for overseas holdings. Moreover, it gives us immense pleasure to announce that 60% of the total exhibition area has already being sold out.'

As of now, the key sponsors for BIPEX 2008 include Ithmar Development Company, Riffa Views, Al Argan Bahrain, Al Khaleej Development Company, Top Real Estate, Marina West, Gulf Holding Company, Century Homes, Landmark Bahrain, IRIS WLL. & Al Safar Group Holding WLL.

Media Partners confirmed their participation to this show are Atlas TV, Property World Magazine, Al Aqariya Magazine, IRETO and Aqar Magazine.

Al Tashkeel Events Management is the Marketing Agent for BIPEX 2008.

To cater to the higher numbers of both participants and expected visitors this year the total exhibition area has been increased to 7,500 sq. mtr.

BIPEX 2008 will be held at the Bahrain International Exhibition Centre and is supported by the Bahrain Chamber of Commerce & Industry.

BIPEX 2008 will be open on all three days from 10 am to 9 pm. Admission is free for trade visitors invited guests and the general public.