With the participation of Amlak Real Estate Newspaper and the patronage of Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister of the Kingdom of Bahrain, the International Real Estate Exhibition, which was held in Manama and organized by Bahrain Engineers, concluded its work yesterday, Saturday, after three days at the Bahrain International Exhibition and Convention Center, and the opening ceremony was honored by the presence of the Speaker of the House of Representatives, Ahmed bin Ibrahim Al Mulla, a number of ministers, members of the diplomatic corps, senior officials and invitees.
During the opening ceremony, Khalifa explained that the law regulating the real estate sector, which is scheduled to come into full force on March 1 of next year, and the consequent requirement for developers, brokers, appraisers and licensees to manage and operate real estate to reconcile their status in accordance with its provisions, represents a legislative shift and a qualitative leap that reflects the care given to this sector, which tops the list of sectors contributing effectively to GDP by about five percent over the past year.»
In this regard, Khalifa crowned the real estate sector with the highest level of importance in the country. <In this regard, Sheikh Khalid bin Abdullah Al Khalifa extended his thanks and gratitude to His Royal Highness Prince Khalifa bin Salman Al Khalifa, the esteemed Prime Minister, for the Council's approval last year to refer the draft law regulating the real estate sector to the legislative authority, which wisely and responsibly approved this law, and to His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, for the attention and follow-up that reflects the importance of the sector, as evidenced by the pause that His Highness dedicated to this advanced law in his presentation during the past year. <For his part, the President of the Bahrain Society of Engineers, Engineer Masood Al Hermi, expressed his thanks and appreciation to His Excellency Sheikh Khalid bin Abdullah Al Khalifa for kindly sponsoring the exhibition for ten consecutive editions. «Through our organization of the tenth edition of BIPEX, we seek to radically transform the exhibition in line with the unprecedented transformation of the real estate market in Bahrain, and building on the success we achieved last year, we aim to bring together the largest gathering of real estate projects to give them the opportunity to communicate with investors, buyers, financiers and the public from across the region to review success stories,» said Al Hermi.
