He highlighted the government’s support for building a real partnership between the public and private sectors to advance the construction and building sectors, and related fields such as real estate, real estate development and social housing.
Such partnership will be consolidated by legislation and laws that strengthen mutual trust among companies and investors within a framework of transparency and regulations that protect the rights of all parties.
HRH the Prime Minister affirmed that the kingdom’s development process is on the right track, and is progressing as planned, adding that development programmes have benefited many fields, including the real estate market.
He pointed out that the real estate sector has flourished in the kingdom, and become a vital economic field that is capable of generating jobs for the national workforce.
HRH Premier was speaking as HRH opened, at the Bahrain International Exhibition and Convention Centre today, the gulfBID annual expo for construction (gulfBID 2015), the Gulf Property Show 2015, and Gulf Interiors Exhibition 2015, organised by Al Hilal Conference and Exhibitions.
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 of the steady progress of the exhibition, in terms of diversity of products, innovative ideas, and increasing number of local, regional and international companies participating in it.
HRH Premier reiterated the government’s keenness to offer more facilities and incentives that encourage investors to enter the construction and real estate sector, out of its belief in the key role played by this vital sector in supporting its development efforts.
He emphasised that the real estate boom currently witnessed by the kingdom, and the great number of mega investment projects implemented in it, reflect the investors’ high confidence in Bahrain’s investment atmosphere, which he described as “flexible and open”, stressing that the government will not hesitate to take any procedures needed to remove potential obstacles impeding the real estate sector’s contributions to enhancing the nation’s prosperity and progress.
HRH the Prime Minister said that GCC companies’ constant keenness to participate in the gulBID embodies the deep and distinguished ties bonding GCC countries, noting that joint real estate investments represent one aspect of economic cooperation that strengthen intra GCC relations.
He also noted that mega companies’ constant desire to participate in the exhibition is a living proof of the success of the kingdom’s policies regarding the consolidation of the exhibitions and conferences industry, which, he said, has gained the kingdom international acclaim, and enhanced its reputation as a leading regional and international hub for specialised exhibitions and conferences.
HRH the Prime Minister highlighted the government’s keenness to enhance confidence in the real estate investment climate through regular updating of legislation and laws that regulate the sector, and make it more flexible and open in order to guarantee the rights of all parties involved.
HRH Premier praised the role played by the private sector in supporting the government’s efforts in the field of development, particularly regarding the real estate field.
He commended the efforts exerted by the organisers of the expo and the participants, and wished them further success. He expressed hope that the expo will be a platform for reaching many deals that benefit Bahrain and all participants.
Board Chairman of Al-Hilal Conferences & Exhibitions Anwar Abdulrahman extended sincere thanks, appreciation and gratitude 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.
Managing Director of Al-Hilal Conferences & Exhibitions Jubran Abdulrahman affirmed that HRH Premier’s patronage of the event had gained it momentum and encouraged companies to participate in it.
He added that gulBID was a platform to showcase the latest real estate and real estate development projects across the GCC region, which, he said, has promoted the kingdom as a real state trading centre in the region.