Later this year, Cityscape, a significant regional real estate exhibition, will make its Bahrain premiere as one of the first significant events at the new Exhibition World Bahrain. The launch comes in response to an agreement signed during the Cityscape Bahrain Property Expo in November 2021 between Informa Markets, Cityscape’s organizers, and the Kingdom’s Real Estate Regulatory Authority. All facets of the real estate ecosystem, including residential, hotel, and commercial, as well as proptech and finance initiatives to promote market expansion, will be covered in the show.
Highlights of Cityscape Bahrian Property Expo
Cityscape Bahrain Property Expo exhibition will bring important local and regional organizations together to give them a platform to present their initiatives, products, and services and network with major figures in the GCC real estate sector. The premier real estate and property exhibition aims to bring together builders, designers, service providers, government agencies, and business organizations to network, look for business possibilities, and promote Bahrain’s thriving real estate market. The Kingdom offers a great entry point to regional investment and the essential infrastructure for proptech and real estate development thanks to its advantageous location in the center of the Gulf through the Cityscape Bahrain Property Expo platform.
Investment Opportunities
An overview of the proptech industry in the GCC, government efforts and a deep dive into the start-up environment will be covered at the two-day proptech summit that will take place at Show World Bahrain in conjunction with the three-day exhibition. Additionally, it will examine venture capitalists and other investment strategies.
Cityscape Bahrain Property Expo is backed by key players such as the Real Estate Regulatory Authority (RERA), Edamah (Platinum Sponsor), Diyar Al Muharraq (Gold Sponsor), Durrat Al Bahrain, Kooheji Developers, and more.
Real Estate Professionals from Around the World
Chris Speller, Vice President at Informa Markets, said about Cityscape Bahrain Property Expo, “We are very excited to be debuting Cityscape in Bahrain. As one of the region’s key strategic real estate players, we see incredible value in hosting the event to connect the kingdom’s top developers, investors, and government entities to seek opportunities, collaborations, and growth prospects. We are keen to host this event in Bahrain as the booming real estate sector shows incredible growth potential, and the government demonstrates its commitment to provide the infrastructure for growth opportunities.”
Commenting on the occasion, Eng. Ahmed Ali Al Ammadi, Chief Executive Officer of Diyar Al Muharraq, commented about Cityscape Bahrain Property Expo and said: “Diyar Al Muharraq is keen to participate in all real estate events held across the Kingdom of Bahrain as it forms an ideal opportunity to connect with local, regional, and global investors. We are pleased to emerge as the golden sponsor for the first-ever Cityscape to be held in Bahrain, which is the largest and most influential real estate event in the region. Through our participation in the exhibition, we look forward to showcasing our diverse portfolio of real estate projects alongside our fellow peers in the industry. We also aspire to meet a variety of individuals and investment entities and liaise with potential customers at our exhibition stand.”
A Peek into Bahrain’s Real Estate Market
Due to a 46% increase in transaction value from 2020 to 2021, Bahrain’s real estate market is expected to expand, and efforts like Cityscape Bahrain Property Expo is a great addition. The Economic Recovery Plan, which the government issued to spur economic recovery in the national economy, is one of the major factors influencing the expansion of the real estate sector. According to the plan’s five pillars, more than $30 billion would be invested in industries like infrastructure, industry, housing, tourism, and healthcare.
The Real Estate Regulatory Authority (RERA), one of the main forces behind the event, was created to transform the real estate industry and boost investment in prop-tech projects like Cityscape Bahrain Property Expo provides a good platform. To deploy its cutting-edge digital post-box system, OneBox, and enable the secure exchange of official documentation and messages between RERA and SLRB, RERA struck a deal with the Survey and Land Registration Bureau (SLRB) and Beyond Connect, a Batelco subsidiary.
Final Thoughts
The Kingdom of Bahrain is taking innovative measures to streamline transactions and procedures within the real estate sector in anticipation of real estate growth and the corresponding increase in foreign direct investment into the nation. Initiatives like Cityscape Bahrain Property Expo are part of the process. One of the projects is BENAYAT, a system for building permit approvals that enable users to request conceptual to final master planning approvals via an online portal.