Premier stresses support for real estate sector

Manama, Apr. 24 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has stressed that the government has put in place a suitable atmosphere, as well as a legislative and technical infrastructure to support investment in the real estate sector. The Prime Minister said that the government is implementing development projects in accordance with a well-thought out vision that is supported by a highly motivated private sector, which helped Bahrain to maintain its investment-attracting potentials in this sector, despite the existing competition.  Bahrain has maintained its leading position in the real estate sector thanks to the government’s keenness to provide guarantees and protection for investors, as well as to create wider investment opportunities in this sector, which has been greatly helpful in attracting foreign investors to the country to launch development projects, HRH Premier said, stressing the importance of promoting the real estate sector in the investment process through specialised exhibitions, including the Gulf Construction Expo (GC Expo).  HRH Premier made the statements while patronising the opening ceremony of the Gulf Construction Expo (GC Expo 2018), the Gulf Property Show 2018 and the Gulf Interiors 2018, all of them organised by Al Hilal Conference and Exhibitions at the Bahrain International Exhibition and Convention Centre.  Mega companies from Bahrain and Gulf Cooperation Council (GCC), Arab and foreign countries are taking part in the three shows. 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, including the projects and the industrial products used in the sectors of construction, interior design, decoration and furniture.  He expressed admiration for the quality of exhibited items and the techniques used, as well as for the distinguished organisation of the expo, which, he said, contributed to attracting mega companies to take part in it. The Prime Minister affirmed that the construction and real estate sector in the Kingdom is witnessing a continuous progress, which is reflected in the size and number of new projects being implemented in various regions of the country, noting that that this real estate and urban boom is based on an advanced legislative and legal structure that stimulates investment in this sector. HRH Premier stressed the need to hold more specialised exhibitions, given their importance in attracting more investment opportunities to the Kingdom. Specialised expos provide opportunities to highlight Bahrain’s promising opportunities in various sectors, and shed light on its advanced infrastructure that encourages investors to enter the Bahraini market with confidence and success, the Premier added. HRH the Prime Minister stressed that the exhibitions and conferences industry enjoys the constant interest of the government which, he said, provides all kinds of facilities that consolidate the industry’s role in serving the national economy, noting that the government, as part of its policies to diversify the sources of income, seeks to develop the real estate field’s investment atmosphere, as well as empower it in order to be able to play its role as one of the vital sectors.  HRH Premier lauded the key role played by the private sector and real estate developers in supporting the government development efforts through launching new housing and recreational projects, affirming that such cooperation has consolidated Bahrain’s status as one of the destinations in the field of real estate investment. HRH Premier said that the current boom in the real estate projects across GCC aims to benefit the citizens of those countries, and provides more opportunities for them to steadfastly carry on the sustainable development march. GCC countries boast the necessary material and human resources that enable them to continue their development path on solid foundations, and to enhance their ability to provide a better life for their citizens based on ambitious visions and strategies that meet the present needs and anticipate future requirements, he said. HRH Premier commended the efforts exerted by the private sector in organising sepcialised exhibitions, including the Al Hilal Conference and Exhibitions, the annual organisers of GC Expo whose importance is growing important every year as reflected in the increasing number of participants and exhibitors.  Board Chairman of Al-Hilal Conferences and Exhibitions, Anwar Abdulrahman, extended sincere thanks and appreciation to HRH Premier for patronising GC Expo annually, which, he said, reflects his support for the private sector, and interest in all events that benefit the national economy, and boost the comprehensive development process the kingdom is currently witnessing. 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.  160 regional and international companies, as well as real estate developers from many countries, including Saudi Arabia, UAE, UK, Turkey and Pakistan, are participating in the three shows.