The sixth edition of a major properties and real estate show which will highlight planned developments in Bahrain was officially launched yesterday (April 13).

The Bahrain International Property Exhibition (Bipex) 2009, organised by the Bahrain Society of Engineers (BSE), which will run from October 14 to 16 at the Bahrain International Exhibition and Conference Centre.

The Premier's Court Minister Shaikh Khalid bin Abdulla Al Khalifa launched the event at a ceremony at the Ritz-Carlton Bahrain, Hotel and Spa.

"Bipex 2009 comes at a crucial time when market confidence in the real estate sector has received a setback because of the adverse impact of the global economic crisis," said BSE president A Majeed Al Gassab.

"Investors have become very cautious as a result, but we are confident that the sixth edition of this premier event in the property calendar of the kingdom will play a vital role in restoring confidence in the markets,” he added.

"The outlook favours an upturn because, despite the projected slowdown, the GCC real estate sector has been continuously growing and drawing the attention of investors and buyers.

"The simple truth is that the real estate market will continue to be an attractive asset class for investment in the long run because there will always be a strong demand for properties in a young and growing population that is seeking a higher standard of living.”

"Over the years, Bipex has served as a platform to bring together all stakeholders under one roof and provide a free flow of information on the current status of the sector," said Bipex organising committee chairman Mohammed Khalil Al Sayed.

"Bipex 2009 will continue this successful tradition of catalysing the growth in the real estate and property market in the kingdom and surrounding region and providing a window to the future."

BSE has announced Diyar Al Muharraq as the prime sponsor for Bipex 2009.

Diyar Al Muharraq is one of the biggest mixed-use residential urban developments undertaken by the private sector in Bahrain.

Bipex 2008 attracted a record 13,500 footfalls, bringing together 98 participants from Bahrain, the UK, Portugal, India, Philippines, the UAE, Kuwait, Oman, Saudi Arabia, Qatar, Jordan to showcase real estate and infrastructural projects with an asset worth of $50 billion.

The spotlight at Bipex 2009 will be on various on-going and planned developments in the real estate sector of Bahrain and the region. – TradeArabia News Service