Mr. Jameel Khalaf Al Alawi, Director of Conferences, Bahrain Society of Engineers, talks about Gulf real estate and BIPEX. BIPEX is a prestigious property exhibition conducted in Bahrain, focused on highlighting projects and promoting greater interaction between prospective developers, financiers and end-users. BSE has vast experience in the organisation of international conferences and seminars on various subjects in the engineering arena.
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Mr. Jameel Khalaf Al Alawi, Director of Conferences, Bahrain Society of Engineers |
How BIPEX is successfully marketing real estate in the Gulf? Secret behind the success?
Success of BIPEX is the confidence of the exhibitors, visitors and the organisers because we, the organisers is the society which is a non-profit making organisation. we work not for money or profit making but more than the promotion of the country, helping for development of the country's economy, and the momentum poised by the economy in our country. That is the main reason we organise this exhibition. That's our role, our mission to empower our country and community. As Engineers we should help in this booming economic revolution in Industry, this is one thing we are trying to offer and contribute. Secret behind the success, of course the hard work. We did use personal contacts effectively & we have more than around 1200 member organisations, not all of them are active, but most of them are supporting and trying to promote the event. This year we spent little effort, the success of the last 3 events helped promoting easy, less than previous years, because most of the companies participated earlier, they know us very well & they know the quality and success of the exhibition.
Cityscape & BIPEX similarities & differences?
Almost all the property exhibitions are of the same concept. The difference is the location, number of participants and the nature of approaches that's been executed. Cityscape is the leading exhibitor in the whole area incomparable, I would say. We can proudly announce that we are next to it, although no comparison between Cityscape & Bipex in magnitude. The success of BIPEX is largely on the response getting from public, that is really good, that's what we found and we have been to other exhibitions so we can compare and can say our approach is different, as we can see other events organised for business & financial matters. Of course we cannot continue without money but for us the main reason is not money. The money made here is not going to anyone's pocket it is going to go for a good cause, for Students education, training purposes and the like.
What are the prospects of Bahrain real estate market? Latest trends in the Industry?
Bahrain real estate market is part of real estate market of the gulf. Gulf is witnessing a boom in economy and especially in real estate .The rate of growth in UAE market is 54% and Bahrain is growing around 27% in the direction. The trend in Bahrain real estate sector is more of diversified, there is demand for residential, commercial & office buildings. There are entertainment projects and water theme parks taking shape.
What attracts investors to Gulf real estate market?
Real estate is the highest return on Investment(ROI) affair and it is very much higher in Gulf region. Most of the businessmen and people also are aware of this and are trying to invest in real estate either in home country or other parts of the world fore sighting the ROI.
Few words about UAE real estate especially Dubai?
Dubai is like a revolution in real estate and construction sector in the whole area. Everyone is appreciating and no one has competed Dubai in this direction. It is more like the heart of whole area. In fact others have started using Dubai as a benchmark for good planning for future. Our country is trying to imitate or follow Dubai in this direction as well. By learning the experience of Dubai, they are trying to overcome any shortfall for future projects.
Do you think the infrastructure of Gulf can support the fast paced developments?
Yes, I can say. Area in Gulf is wide and real estate is booming in all countries, Dubai is the lead. Saudi Arabia, Bahrain, Oman are picking up. Land is available, along with huge and well constructed infrastructure to support developments. There is money. Progress structure is very affirmative in GCC encouraging investors by and large. Fund is available to cater for expansion in future.The rise in oil price returns money for future market economy to the government, there are countries which face difficulties where fund is not much available, unlike that we have enough fund to cater for expansion.
Most of the real estate projects cater to the higher end, luxurious class, what about the middle class & the salaried class, any projects for them in pipeline?
I can tell about Bahrain that in Bahrain it's a mixture of all, and assure you that there are projects for low class people, projects for middle class & luxury projects as well. Possibly I would expect this is the same with other countries.
Where do you see Gulf real estate in another 5 years time?
I think the rate of growth will contribute much for future definitely. Some countries will reach a level starting gradually and going down marginally, some countries might continue as they begin the journey.
Can we expect BIPEX Dubai?
No, I cannot say, we are still trying to establish ourselves strongly in Bahrain. we have got invitations from other countries to have BIPEX there but we are not in a hurry to go into that direction right now.
BIPEX 2007?
BIPEX 2006's Area was 5000 sq ft, which gone up to 6000sq ft this year. We are thinking to double the size for BIPEX 2008.
By: Shabina Sanad
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