After years of consistent high growth, the multibillion-dollar real estate sector in the GCC has risen in stature
as an international property market that is capable of attracting investments from all over the world. The GCC
region has also earned the distinction of being amongst the few at the global level to remain unaffected by
the fallout of the sub-prime crisis in the US because of its reliance on equity financing instead of mortgage
financing.
With oil prices continuing to soar skywards, hitting $111 a barrel, on March 13, 2008, the GCC region will
have a current account surplus of more than US$200 billion for the third consecutive year. Much of this
surplus is fuelling non-oil sector growth with real estate and infrastructure development benefiting the most.
Additionally, the regional real estate industry is considered a safe haven by international investors escaping
turmoil in global equity markets and recessionary trends in major world economies.
Anticipating continued demand for infrastructure and real estate development projects in the future, real
estate investment trusts are being created in association with banks to fund new projects. It is therefore
evident that the GCC property market will continue to be on a high growth curve, particularly because
developers and mortgage providers are constantly devising new long-term loans to bring the wider
population into the property market.
Significantly projects in the region have advanced beyond a mere need satisfaction and the GCC boasts
some of the most exciting waterfront developments and real estate projects based on innovative concepts.
Being the first country in the region to grant property buyers the right of freehold ownership, Bahrain has
been at the forefront of real estate development in the Gulf region and has also emerged as one of
its foremost property markets with some
landmark projects.
The Bahrain International Property Exhibition (BIPEX), in the course of its five-year history, has reflected the
growth of the region’s real estate sector and also served as a catalyst for continuation of the trend by
showcasing real estate activity in its various hues. It provides prospective developers, financiers and
end-users the appropriate platform for close interaction and simultaneously highlights some of the most
significant real estate and infrastructure projects in the region.
In continuation with this laudable tradition, BIPEX 2008 will facilitate a free flow of information between real
estate investors and developers. I extend my invitation to all real estate industry stakeholders – investors,
developers, clients and others – to make the most of this unique opportunity and also significantly
contribute to the future of the region’s real estate industry by participating in BIPEX 2008.
For more information, please contact:
The Bahrain Society of Engineers
P.O Box 835,
Manama, Kingdom of Bahrain
Tel +973 17810724
Fax +973 17827475
E-mail: bseng@batelco.com.bh
Website:www.bipex.org
