A key international real estate exhibition held in Bahrain was a resounding success, having showcased over $52 billion worth of property, organisers said.

The sixth Bahrain International Property Exhibition 2009 (Bipex 2009), which closed on Saturday, topped last year's figures - indicating a sustained growth of developmental projects in the country, they said.

The three-day event, held under the patronage of Prime Minister's Court Minister Shaikh Khalid bin Abdulla Al Khalifa, was organised by Bahrain Society of Engineers.

Organising committee chairman Mohammed Khalil Alsayed said the volume and value of projects on show this year and the response from exhibitors was extraordinary.

'The $52 billion is, indeed, an enviable record for Bahrain's most prestigious property exhibition, considering the fact that it tops last year's figure of $50 billion at a time when the world is just trying to emerge from an unprecedented recession,' he said.

Alsayed said it clearly underlined the fact that Bahrain's real estate sector continued to flourish and attract worldwide interest and investment as a sound asset class.

'Demand has remained remarkably stable despite recent upheavals in the global market,' he said.

'The sixth consecutive staging of this event also underscores the fact that Bipex not only serves as a true barometer of the health of the property market in the GCC and the Middle East and North Africa region, but also acts as a catalyst for defining the growth path of the future.

'This year's increased participation reflects the sustained growth of infrastructural and development projects in Bahrain and shows that the future is bright.

'The optimistic outlook can also be seen in the feedback from participants, who expressed their keen interest in returning for next year's edition, given the positive response they received from visitors and the high organisational standards of the event, which recorded over 9,500 visitors.'

Al Sayed said one of the successes of the event was the interactive technical property seminar, which provided technical details on specific aspects of the real estate industry, which evoked highly positive feedback from potential investors and the public.

'Exclusively sponsored by Sakana Holistic Housing Solutions, it also included a lively panel discussion on the prospects for affordable housing projects in Bahrain,' he said.-TradeArabia News Service