Bahrain’s realty sector shows resilience

HRH Prime Minister getting briefing from Chairman Diyar Al Muharraq, Abdulhakeem Al Khayyat after the opening of the show

MANAMA: The Kingdom of Bahrain continues to invest in the real estate sector as the investors see the sector’s resilience and sustained growth patterns in 2016 and beyond despite economic pressures such as falling oil prices.

These sentiments were echoed as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa on Tuesday opened the three day the Gulf Property Show 2016 and HRH stressed that the real estate and urban boom currently witnessed by the Kingdom in various regions affirms anew the ability of the national economy to overcome all obstacles.

Challenges, no matter how severe they may become, will not dissuade us from continuing the path of comprehensive development to achieve a better future for the nation and the people, he said.

HRH Premier urged investors to launch their ventures in the kingdom confidently, and avail of the economic openness ensured by Bahrain, which has entitled it to be among the main investment and business destinations in the kingdom.

HRH the Prime Minister asserted that the investment atmosphere in the kingdom boasts many distinctive features that make it the most attractive to investors, especially in the real estate and construction fields, amid the multiple facilities that are put in places, and are regularly reviewed and updated to cater to the requirements of eth development process the country is witnessing.

HRH Premier made the statements as he opened, at the Bahrain International Exhibition and Convention Centre today, the gulfBID annual expo for construction (gulfBID 2016), the Gulf Property Show 2016, and Gulf Interiors Exhibition 2016, organised by Al Hilal Conference and Exhibitions, with the participation of 144 local, regional and international exhibiting companies.

HRH Premier cut the ribbons and declared the opening of the exhibition. He then toured the expo’s pavilions and sections. He was informed about the exhibited products in various sectors.

He expressed admiration for the quality of exhibited items and the techniques used.

“The government is keen on providing all success requirements that enable the real estate sector to play its role as one of the pillars of the national economy,” the Premier said. He emphasised that the steady progress of the exhibitions and conferences industry reflects the prestigious reputation enjoyed by the Kingdom regionally and globally, highlighting the government’s unwavering support to the industry.

He affirmed that gulfBID has succeeded in attracting more exhibiting companies every year thanks to its high organisational potentials, and given its importance in providing a suitable opportunity for businessmen to reach deals and share expertise.

“What distinguishes the gulfBID is that it is GCC gathering that we need in order to launch more joint projects that meet the aspirations of our countries and peoples for more development and progress,” he said, praising the remarkable urban boom currently witnessed by various GCC countries, which, he stressed, reflects their keen interest in strengthening the pillars of comprehensive development for the best interests of their peoples.

Board Chairman of Al-Hilal Conferences and Exhibitions Anwar Abdulrahman extended sincere thanks and appreciation to HRH Premier for patronising gulfBID annually, which, he said, reflected his support for the private sector, and interest in all events that benefit the national economy, and ensured the success of the event.

He pointed out that the government, led by HRH Premier, is interested in the real estate sector out of its belief in its ability to boost the national economy, as well as ability to generate for the national workforce.

Managing Director of Al-Hilal Conferences and Exhibitions Jubran Abdulrahman affirmed that HRH Premier’s patronage of the event had encouraged companies to participate in it.

He pointed out that this year’s edition has attracted many domestic and GCC companies, especially from Saudi Arabia and Kuwait.

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