May 31, 2016
BIPEX 2016 Officially Underway
The Organizing Committee announced this year’s BIPEX 2016 to take place
November 3rd – 5th
A key press conference on May 31st 2016 at the Four Seasons Hotel Bahrain Bay saw the launch of Bahrain’s International Property Exhibition, BIPEX 2016 as a symbol of the robust state of the real estate market along with a continued interest in Bahrain’s economy. The exhibition and forum will offer a golden opportunity for investors, development companies, financial institutions, legal institutions and consumers to showcase projects, reach consumers and discuss and make decisions in an open environment.
BIPEX, organized by the Bahrain Society of Engineers, has proven itself indispensable to Bahrain’s real estate calendar of events after last year’s successful comeback. BIPEX 2016 is scheduled for November 3rd – 5th at the Bahrain International Exhibition and Convention Center under the patronage of H.E Shaikh Khalid Bin Abdulla Al Khalifa, Deputy Prime Minister. In last year’s BIPEX event, the exhibition highlighted real estate assets worth $60 billion, a significant rise from $52 billion in its previous edition. The 2015 show attracted more than 7,000 unique visitors of whom 24% traveled from outside of Bahrain. The organizing committee has grand plans for even further developing the exhibition for 2016 directly paralleling the increased interest and investment power in the real estate industry.
BIPEX continues to grow as a direct result of increased investment projects among the public and private sectors of the economy. With regards to government spending, there is an estimated $1.2 billion currently invested in housing with an additional $1.3 billion funding water and electricity. Thus, it is obvious that BIPEX came at a high time for growth in Bahrain and the GCC. The private sector is also making headway in Bahrain. Crucial new developments include the mixed-use Layan project in Durrat Marina by Bin Faqeeh Real Estate Investment Company. GFH has begun the site preparation work at the Harbour Row Development. In addition, Mabanee Real Estate Company are hard at work building the long anticipated Avenues Mall, slated to open first quarter of 2017. BIPEX 2015 has helped raise awareness about these and other projects, which makes its comeback in 2016 that much more indispensable.
The Bahrain Society of Engineers or BSE, is the premier body representing engineering professionals in the Kingdom. A dedicated committee is tasked with regularly organizing the BIPEX, and Mr. Mohammed Khalil Alsayed is the Chairman of this Organizing Committee for BIPEX. “BIPEX comes at a time when there is a sizeable pipeline of infrastructure investments across the region indirectly paralleling the insurmountable growth in global connectivity,” said Alsayed. “The increase in momentum of the progressing economy is evident in recent months with respect to the GCC Development Fund. The total value of projects rose from $2.2 billion in Q4 2014 to $3.6 billion exactly one year later,” added Mr. Alsayed.
“Set amidst this backdrop, I believe that we are exceptionally well-placed to launch BIPEX 2016 in its new edition in November of this year. I take this opportunity to request all players to join us. We are hopeful of recording an impressive value of projects that even surpasses that of BIPEX 2015,” he concluded.