Cityscape, a key regional real estate exhibition, is set to make its Bahrain debut later this year as one of the first major shows at the new Exhibition World Bahrain.
The launch is in light of an agreement inked by Informa Markets, Cityscape organisers, and the Kingdom’s Real Estate Regulatory Authority at the Cityscape Global Exhibition in November 2021. The exhibition will cover all aspects of the real estate ecosystem, including residential, hospitality and commercial, as well as proptech and financing initiatives to stimulate market growth.
The exhibition will bring key local and regional entities to offer them a platform to showcase their projects, developments and services, in addition to the opportunity to network with influential players in the real estate GCC market. The prestigious real estate and property exhibition aims to connect developers, architects, designers, service providers, as well as government bodies and industry associations to network, seek opportunities, and promote the prosperous real estate sector in Bahrain. Situated strategically in the heart of the Gulf, the Kingdom provides an ideal access point to regional investment in addition to providing the necessary infrastructure for proptech and real estate development.
The three-day exhibition will be held alongside a two-day proptech summit, at the Exhibition World Bahrain, which will feature an overview of the proptech sector in the GCC, government initiatives, a deep dive into the start-up scene. It will additionally and look at different forms of investment and venture capitalists.
Cityscape Bahrain 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.
Chris Speller, Vice President at Informa Markets, said, “We are very excited to be debuting Cityscape in Bahrain. As one of the key strategic real estate players in the region, 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, 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.”
Bahrain’s real estate sector is set for growth as the value of real estate transactions rose by 46 per cent in 2021 when compared to 2020. One of the key determiners of the growth of the real estate sector is the Economic Recovery Plan announced by the government to boost economic growth in the national economy. Based on the five pillars, the plan would see more than $30 billion invested in sectors including infrastructure, industrial, housing, tourism and healthcare.
As one of the key drivers of the event, the Real Estate Regulatory Authority (RERA) has been established to transform the real estate sector with an aim to increase investment into prop-tech. RERA signed an agreement with the Survey and Land Registration Bureau (SLRB) and Beyon Connect, a Batelco subsidiary to deliver its innovative digital post-box solution, OneBox, to enable secure communication of official documentation and messaging between RERA and SLRB.
Envisioning the potential of real estate growth and the associated upsurge of foreign direct investment into the country, the Kingdom of Bahrain is implementing innovative steps to ease transactions and processes within the real estate sector. Among the initiatives includes BENAYAT, a Building Permits Approval system, allowing users to apply for conceptual to final master planning approvals through an online portal.